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App Of The Week: Sokoloan

Sokoloan is an app that lets you easily acquire loans from/in the comfort of your home. Using the same technology as Branch, Carbon, Palm Credit and other loan apps, Sokoloan disburses loans to individuals and lets them payback within 2-6 months. 

Read more about other Apps of the week

Meet the App

In order to get quick loans in Nigeria without collateral, Sokoloan is your one your best bet. Download the app from the Google Play store and follow the steps below: 

  • Create your account 
  • Apply for a loan in seconds
  • Receive your loan straight into your bank account
  • Increase your loan limit each time you repay your loan

Sokoloan Interest Rates 

Loans on Sokoloan range from ₦5,000 to ₦10,000 with terms from 91 – 180 days. The interest and service fee from 4.5% – 34% with an equivalent monthly interest of 3% – 29% and APR of 29% – 365%. The platform is open 24 hours a day of every day of the week. 

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The Benefits of Using Sokoloan 

Sokoloan is fast, reliable and promises a great user experience. 

  • It comes with no paperwork or mortgage.
  • No requirement to visit an office
  • There are no restrictions on how you use your money. 
  • It makes the process of getting a loan easy by using the data on your phone including your SMS history to verify your identity and create a credit score. 

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Getting The App

The Sokoloan app is available on the Google Play store at a downloadable size of 5.8 MB. It has been installed over 500,000 times and requires Android versions from 4.2 and above. Click the link below to download the app. 


Featured Image Source: Sokoloan

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Samuel Okoruwa

My name is Samuel Okoruwa. I am an ardent researcher, reading is life and writing is fun.

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