Home » Download FirstNell Loan App Apk For Free

Download FirstNell Loan App Apk For Free

FirstNell Loan is a Nigerian personal loan online platform that provides fast and secure micro- and medium-sized loans. The mobile app lets users take out loans up to N60,000 with no collateral or documents.

Unsecured loans are one type of loan that doesn’t need collateral or a downpayment to be able to access. It’s typically short-term with extremely high rates of interest.

FirstNell affirms that all loans are approved and endorsed through the CBN (Central Bank of Nigeria) and that they are informed upfront when submitting a the loan application. There isn’t any proof to support this. This is an advertising stunt since the CBN is not have a proven track record of approving or disapproving any loan application submitted online. app. You are the sole party responsible for your security and safety when you take loans over the Internet.

Merit Finance Credit Corporation Limited is a systemically important microfinance company within the group of companies that carry Soft Naira as their brand. Naira soft brand

Merit Finance Credit Corporation Limited created the FirstNell app as a free app.

Do not take out an internet-based loan app to finance your daily expenses. These loans can be useful in situations of emergency, but they can be quite costly in comparison to longer-term loans. They should be treated with care.

FirstNell Loan app allows you to get a personal loan easily by using the information stored in your phone, which includes the information you provide to confirm your identity as well as create a credit score.

A loan in Nigeria through banks and other official sources is lengthy and requires documentation such as collateral that most people do not have. This is why services like these can be extremely useful, especially in times of emergency.

While the app isn’t exactly new, the reviews from customers are positive. The app has already had more than 10,000 downloads on the Google Play Store, but with mixed reviews. It utilizes loan software to collect information from prospective customers such as phone numbers, bank transactions, and the BVN and credit rating of every borrower.

In order to be eligible for greater amounts, ensure that you keep a record of your bank transactions on your smartphone and don’t have any outstanding debts from other loan applications!

How to download the APK, and then get a loan from FirstNell loan app

  • Install the FirstNell personal loan app on the back of your Android phone by downloading it from the Google Playstore.
  • Register for an account by providing your phone number.
  • It is advised that you use the phone number you have associated with the BVN since it will require a special password to confirm your identity.
  • Complete your basic Know-your-customer KYC details, which include your address for residence, next of kin, and your employment information.
  • You’ll also have to submit you with your Biometric confirmation number BVN.
  • It will cost you N30 to connect an ATM account to the account in order to increase your chances of getting more money.
  • One-time username and password OTP is sent directly to you mobile to verify your details.
  • After you submit a loan request, the program will evaluate your credit score, and the results will be displayed in the app.
  • The results should be visible within less than 2 minutes. If you are eligible for an loan, the amount will be deposited into your bank account within around five minutes.
  • Use a high-quality phone with enough memory because you’ll need to take a precise live selfie to prove your identity.
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It is important to note that affixing your ATM card by using N30 does not assure you that you’ll be able to receive a loan. However, you must still get a credit score.

The N30 charge to tie the ATM credit card with your bank account can be refunded, however it could take between seven to twelve business days in order for funds to be returned in your banking account.

Your BVN is tied with your credit rating. So when you’re in the middle of a loan with another lender or failed to pay any other lender in full when they were due you can expect to be denied.

Credit score the result of your previous loans as well as the amount of time you pay and cash transactions coming into or out of the bank accounts, and other details.

FirstNell Loan App
FirstNell Loan App

If you download the app you will need to agree to allow access to the contacts in your phone book that act as your guarantors. SMS for access to your bank transactions, applications on your phone that check how you’re using different loan apps, as well as other data it uses to improve the credit score.

While FirstNell offers loans to certain customers, there have been complaints that the app removed money from their bank accounts after the binding of their ATM cards. Be cautious when you use the loan app.

Do you think FirstNell loan app authentic or is it a fraud?

Absolutely, FirstNell loans app is an official loan app which offers short and long-term loans of up to an amount of N60,000 to its customers however it comes with extremely high rates of interest and bugs that hinder seamless registration. It is important to be cautious prior to making any online loan. Make sure you read the reviews of other customers before submitting an application for loans in Nigeria.

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It is important to know that these loan applications are not regulated or registered with CBN, CBN or any other government institution in Nigeria. The responsibility lies with you for the safety of your transactions through them , and there’s no remedy for poor customer service.

Additionally, its presence as a feature on the Google play store doesn’t ensure that transactions made on it are safe. The play store is the possibility of downloading and you are accountable for your security using loan applications in Nigeria.


  • Registration is simple and effortless.
  • It is not a way to denigrate customers when they fall short of repaying their loans, unlike other loan applications that operate in Nigeria.
  • Students can use this in emergency situations.
  • It’s real, it’s been confirmed by the admin that they actually offer loans.
  • Fully online and no need for collateral.
  • The loan is high, and can be that can reach up to.


  • The loan’s duration, especially for new customers, begins at only 7 days.
  • Very high interest rates for very small amounts of loans.
  • Rejection rate is high.
  • The app is only compatible with Android smartphones.
  • Problems with networking that could hinder card binding.
  • The loan can be credited on your behalf even if you do not agree with the terms and conditions, and must pay the high interest
  • The initial loan amount is typically one thousand dollars in the case of new customers.

When you take out a loans, you should be aware of the repayment schedule. If you are taking the loan for 60 days and have two installments of repayment and two installments due, the app could attempt to auto debit you at the due date for the first installment. It may also charge you for overdue fees before the expiration date of your 60-day tenure.

You can modify your ATM card’s password to stop auto debit. It is reported that this app has been found to intentionally auto debit their customers, even after they’ve completed transactions through bank transfer.

Since there are no laws in Nigeria the majority app developers are loan sharks. They may threaten to send texts to your family members , calling you a fraudster in the event of a default on the repayment. Avoid these apps if there are other alternatives.

If you’re being harassed or bullied by loan sharks in Nigeria, check out the following Facebook group in which you can get help and learn about the experiences of others who have been victimized by loan applications.

What do other borrowers have to say about the FirstNell loan app

Adegbuyi Omolanle said, “Please, i didn’t apply for your loan as I saw an amount in the form of 7 days to pay N2435, but you credited my account without my authorization.” In any case, I’ll make the payment when it’s due, however, please take my information off your database because I think your offer is too low.”

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Sarumi Selimot wrote, “Very good apps, I received money within a minute.”

Omoye Dennis wrote, “How can u give 9k to me in a month and have me repay 17+ in 6 days? Does this not seem like fraud in full view. It’s not necessary to take your loan. All I saw on your app was 9k in order to repay 13k. Be assured that I’m not paying for a meal.”

What is the interest rate?

What’s the difference? First Nell offers
The loan amount is N50,000. 250,000
The shortest loan term is 91 days long, while length is up to 365 days.
The rate of daily interest is 0.0057%
The maximum annual rate of interest APR 20.55 percent

The process of calculating the amount is simple. For example, if we select a $100,000 loan for 12 months as the principal, we will calculate the principal amount.
Below, you will find the following information:
plan of installment 12.
Principal: N100,000.
Amount of expenses: N100,000. The amount of expenditure is the principal plus expenses, or N100,000.. – N0 = N100,000.
PMT (monthly amount of payment): N10045.8. PMT = N100,000 x (1 + 20. 55%) / 12 = N10045.8.
Total interest total: N20,550.
total amount of N120,550. The total amount is $120,550 (principal plus interest).
Rate of interest: 20.55%. Total interest rate = total interest / principal multiplied by 100% = N 120,550 / N 100,000 multiplied by 100% = 20.55%.
The monthly interest rate is 1.71%. Monthly interest is the total interest rate divided by the number of installments: 20.55 percent x 12 = 1.71 percent.

Be aware that this rate of interest and loan term is only examples. Expect the actual amount and length to be lower; however, you can increase it by repaying the loan on time, and maintaining good credit ratings.

FirstNell app customer service number

Address Trans Amadi Industrial Layout of the community second school roads, Port Harcourt, Nigeria
E-mail: [email protected]
Mobile: +234 8056294848.
Hours of operation:
Monday to Friday: From 9:00am until 6:30pm
Saturday to Sunday: From 10:00am to 6:00pm

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