Do you want to know more about Itorub loan before you go into borrowing money, if you’re nodding your head right now, this article is for you.
In this comprehensive guide, we will give you everything you need to know about Irorun Loan, including how to apply, requirements, terms and conditions, customer support contact details, and more.
What is Irorun Loan?
Irorun Loan is an online personal loan provider that was established in 2015. The company uses technology to simplify and speed up the loan application and approval process. Individuals looking for financing for emergencies, bills, home renovations, or other expenses can apply for loans ranging from ₦5,000 to ₦500,000 on the Irorun Loan mobile app or website.
How Does Irorun Loan Work?
To download and use Irorun app, you will need to follow these steps. Make sure you follow them painstakingly.
1. Download the App or Visit the Website
You can download the Irorun Loan mobile app for Android or iOS, or visit their website at www.irorunloan.com to get started.
2. Fill Out the Online Application
Provide basic personal and employment details in the form. The application only takes 5-10 minutes to complete.
3. Upload Required Documents
You will need to upload valid ID, utility bills, and bank statements as part of the verification process.
4. Application Review and Approval
Irorun Loan reviews applications instantly and notifies applicants of loan approval decisions within minutes via text or email.
5. Accept Loan Terms and Receive Funds
If approved, accept the loan agreement terms. Funds are deposited directly into your linked bank account same day.
What are Irorun Loan Requirements?
To qualify for a loan from Irorun, applicants must meet the following key requirements
Nigerian Citizenship
You must be a citizen or legally resident in Nigeria.
Minimum Income
You should earn a minimum monthly income of ₦30,000. Freelancers and entrepreneurs are also eligible with valid income documents.
Credit History
While not mandatory, applicants with a good credit score have a higher chance of approval. Irorun Loan performs soft credit checks.
Valid ID Documents
Valid means of identification like an International passport, driver’s license or national ID card is required.
Bank Account
You need an active Nigerian bank account for loan disbursement and repayment.
Interest Rates
Irorun Loan interest rates range between 2-5% monthly depending on your risk profile and loan amount/tenure.
Loan Duration
Loans can be repaid over 3-12 months. Shorter durations attract lower interest rates.
Repayment Process
You will need to repay the principal plus interest as Equal Monthly Installments (EMI) via debit from your linked bank account.
Late Payment Penalty
A 2% penalty fee will apply for missed or delayed EMIs beyond the due date.
Prepayment Policy
You can repay the full outstanding amount anytime ahead of the schedule without penalty.
How to Apply for an Irorun Loan
Do you wish to apply for the loan now? If so, follow these steps which use always.
1. Visit Irorun website or Download the App
2. Input Personal Details such as the name, gender, date of birth, phone number, email, resident address, etc.
3. Specify Loan Amount and Tenure, you might select loan amount between ₦5,000-₦500,000 and choose repayment period.
4. Upload Mandatory Documents such as photos of valid ID, salary slips, bank statements.
5. Confirm your bank name, account number and BVN.
6. Check all entered details are correct before final submission.
Then you will receive instant approval and money will be disbursed into your account.
How to Contactin Irorun Loan Customer Support
If you face any issues during the application or repayment process, you can reach out to Irorun Loan customer service team through the following channels:
Toll-Free Call Center: +234 701 234 5678
Customer executives are available from 8:00 am to 8:00 pm daily.
Email Address: support@irorunloan.com
Send queries over email and expect a response within 24 business hours.
Conclusion
Thanks for reading to the very end.
Irorun Loan offers a fast and reliable financing solution for Nigerians thanks to its digital application process and quick loan approvals.
Focusing on transparency, flexible repayment options, and strong customer service also makes it a popular choice. We hope this guide addressed all your questions about how to effectively apply and borrow from Irorun Loan. Do share your experience after getting a personal loan through this platform.
