Fairmoney Loan Requirements in Nigeria 2023

Fairmoney, a leading Nigerian lending company with a loan-giving license, has gained popularity for offering instant loans with no collateral required. Users have praised the company for its easy and efficient loan application process. In this post, we will walk you through the simple requirements needed to qualify for a Fairmoney loan, making the entire process hassle-free.


About Loan Requirements on Fairmoney:

Fairmoney stands out among online loan companies in Nigeria for its flexibility and speed in providing loans. With loan approvals taking as little as 5 minutes, it is evident that the loan requirements are user-friendly. While there are not many strict conditions, meeting the mandatory requirements is essential to successfully obtain a loan through the Fairmoney App.

Fairmoney Loan Requirements:

  1. Download the Fairmoney App: To access a loan from Fairmoney, the first step is to download their mobile application, available for both iPhone and Android users.
  2. Provide Your Full Name: When applying for a Fairmoney loan, you must provide your full name, including your Surname, First Name, and Middle Name. This information should match the details of your bank account.
  3. Submit Email Address & Phone Number: Fairmoney requires your phone number and email address for the loan application. During the sign-up process, you will receive a unique shortcode on your phone for verification purposes. Additionally, you’ll need to provide an email address, which can be Gmail, Yahoo Mail, iCloud, or Outlook.
  4. Bank Verification Number (BVN): Just like with other loan apps, your BVN is a crucial requirement for obtaining a loan through Fairmoney.
  5. Bank Account Details: You need to provide your bank account details, including your account name and account number. These details are essential for fund disbursement once your loan is approved.
  6. ATM Card Details: Your ATM card number is mandatory for the loan application. Fairmoney will use this information to automatically repay your loan when it becomes due.
  7. Face Verification: The last requirement for a Fairmoney loan is face verification. During the registration process, you must take a selfie to verify your identity.


With Fairmoney’s simple and flexible loan requirements, obtaining instant loans in Nigeria has never been easier. By downloading the Fairmoney App and meeting the necessary conditions such as providing accurate personal details and completing face verification, you can access the funds you need within minutes. Remember, while the requirements are straightforward, they are mandatory, so ensure you meet all the criteria to qualify for a Fairmoney loan hassle-free.

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