Jumia Loan: How To Get a Loan From Jumia

Jumia Loan: How To Get a Loan From Jumia

The loan is what most people need for bsuniness or personal purpose. So in this post, I’ll share with you how you can get a loan from Jumia Nigeria.

Another important thing I will also share here is what Jumia Loan is all about and how you can benefit from them.

Kindly note that With the reputation of being the largest online marketplace for electronics and phones in Africa, Jumia is currently offering loans, known as Jumia Pay Loan, where you can an individual can borrow money, you will be learning how to get a loan from Jumia.

We also learned that jumiapay loan interest rate is not high, and everybody can afford to pay that little interest.

The Jumia loan interest rate is 3.5% per Monthly which means you will pay only N350 when you borrow N10,000 Nigerian Naira.

Types Of Jumia Loan

Jumia offers three different types of loans; let’s quickly discuss their types of loans to know which you are going for.

1. Payday loans

Payday loans refer to short-time loans where the borrower will pay the money when he receives his wage.

This is one of the most popular loans; it works like an overdraft. However, there are slight differences between an overdraft and Payday Loans.

2. Business

Business, I hope it explains itself, well Incase you didn’t understand what we mean by Business loan, here is what we mean.

A business loan refers to a loan designed to provide financial assistance for businesses to cover cash flow.

3. Education

Education, This doesn’t require much explanation because its name has cleared and explains everything.

An education loan is designed to provide financial assistance for anyone pursuing educational expenses.

How Does Jumia Pay Loan Work?

It’s just a simple and straightforward loan that offers fast and easy money without any means of collateral or long-form filling; that is how it works.

How To Get A Loan From Jumia?

Here is a straightforward guide to get a loan from Jumia, the good news about borrowing money from Jumia is; the process is not as difficult as it seems; all you have to do is get a jumiapay loan app (download).