Monibac 1.5.1
Continue to app
Free Version
Publisher Description
Monibac is an app where you can access loans without any collateral, save and earn interest on your savings, and easily top up and withdraw to your account.
Why Monibac?
1. You do not need collateral before you can access a loan
2. There are no charges on both deposits or loans.
3. You can get an additional 50% of your savings as a loan.
4. You can get from 20,000NGN to 500,000NGN as a loan
5. We will always send reminders for your repayment without much disturbance.
How it works
Install the Monibac App from App Store
Register your account
Start saving
After 3 months, the customer is eligible to request a loan of up to 150% of their total savings.
If they request for the loan, they submit their request on the app, we check to ensure their KYC documents are complete.
If the loan is approved, they will get a request to E-sign.
Once they sign, the approved amount is added to their Monibac Balance
Apart from loans, they can also lock their savings for a specified period of time. For example; if they save for 3 months, they get 3% of their savings. 6 months, they get 5%.
Our Loan Product
Tenure- Our tenure ranges from 90 to 180 days.
Interest rate for 90 days is 9%
Interest rate for 180 days is 15%
Loan amount will be capped at N5 million
Our interest rate depends on the tenure the customer chose.
An example of how this loan and repayment works….
If a customer has N200,000 as total savings, they can get a loan of N300,000.
If they take the loan for a period of 3 months, then the 9% interest will be on the principal amount of N100,000 which is 9,000. Therefore, the total payable amount will be N109,000.
Since the repayment is monthly, the N109,000 divided by 3 months = N36.333
Our APR is between 30.4% and 36.5% if we use 15% for the 6-month repayment and 9% for 3 months respectively.
Eligibility
1. Above 18 years.
2. Lives in Nigeria
3. Have saved on our platform for over 3 months
Contact Us
customer service hotline> 07060953139
Apr 11, 2024
Version 1.5.1
bug fix on monilock page
About Monibac
Monibac is a free app for iOS published in the Accounting & Finance list of apps, part of Business.
The company that develops Monibac is Prime Zone Limited. The latest version released by its developer is 1.5.1.
To install Monibac on your iOS device, just click the green Continue To App button above to start the installation process. The app is listed on our website since 2024-04-11 and was downloaded 3 times. We have already checked if the download link is safe, however for your own protection we recommend that you scan the downloaded app with your antivirus. Your antivirus may detect the Monibac as malware if the download link is broken.
How to install Monibac on your iOS device:
- Click on the Continue To App button on our website. This will redirect you to the App Store.
- Once the Monibac is shown in the iTunes listing of your iOS device, you can start its download and installation. Tap on the GET button to the right of the app to start downloading it.
- If you are not logged-in the iOS appstore app, you'll be prompted for your your Apple ID and/or password.
- After Monibac is downloaded, you'll see an INSTALL button to the right. Tap on it to start the actual installation of the iOS app.
- Once installation is finished you can tap on the OPEN button to start it. Its icon will also be added to your device home screen.
