LifeLine Loan App: How To Apply, Download App

Nigerians can quickly apply for micro and medium loans through the LifeLine loan app, an online lending platform. Users of the Android app can take out unsecured loans between N1,000 and N500,000 with little to no documentation and no collateral. Customers can apply for loans online anytime, day or night, and a computer will review their credit report and make them an offer after doing a credit check.

Unsecured loans are ones that can be received without a down payment or collateral. It often has exceptionally high interest rates and is short-term.

When taking out a loan through this app, proceed with caution as the vast majority of the Google Play page reviews are fraudulent. App developers are typically up to no good when they buy fake reviews.

With mediocre reviews, this app has amassed over 10,000 downloads on Google Play. To create each borrower’s credit score, it gathers data from potential consumers, including phone records, banking transaction alerts, and BVN.

Keep accurate bank transaction messages on your phone and avoid having any unpaid balances with other loan applications to qualify for bigger amounts as lending decisions are handled by computers!

Online loans like this are typically far more expensive and have very high interest rates because they are unsecured and need no paperwork.

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How to Download APK and get a loan from LifeLine Loan app

  • Download the LifeLineLoan App available on the Google Playstore and install it on your Android phone.
  • Register an account with your phone number.
  • Preferably the phone number connected to your BVN as a one-time password will be sent to it for verification.
  • Fill in your basic Know-your-customer KYC information, including your residential address, next of kin and employment details.
  • You will also be required to provide your Biometric verification number BVN.
  • You’ll be charged N30 to bind your ATM card to your account to increase your chances and get a higher loan amount.
  • A one-time password OTP will be sent to your phone to confirm your details.
  • After the submission of your loan application, the software will analyze your credit score and the final result will be shown in the APP.
  • The result should be displayed in less than two minutes and if you qualify for a loan, the loan amount will be disbursed into the bank account in about 5 minutes.
  • Make sure you’re using a good phone with enough memory space as you will be required to take a clear live selfie for identification.

Is LifeLine loan app legit or a scam?

Yes, the LifeLine loan app is a legal loan app that offers customers micro and medium-term loans for up to N500,000, but it has exorbitant interest rates and faults that make registration difficult. Be very cautious when taking out an internet loan. Always read customer reviews before applying for a loan in Nigeria.

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You should be aware that neither the CBN nor any other Nigerian government organization has registered or regulated these loan apps. There is no redress for unsatisfactory customer service, and you alone are responsible for the security of your transactions with them.

Additionally, the fact that it is available on the Google Play store does not ensure the security of any transactions conducted there. While using loan apps in Nigeria, you are totally responsible for your safety; the Play Store only acts as a storage facility for downloads.

Requirements to obtain a LifeLine  loan

  • Have a bank account and bvn; your eleven-digit BVN will be used to check your credit score.
  • Have source a of income
  • Have a good credit score; if you have a history of late payments with other loan apps you might be denied a loan or be given a very high-interest rate.
  • Reside in Nigeria
  • Have a smart phone with which to download the app; the app is only available on the Google play store accessible only with an Android smartphone.
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Interest rate?

0.1 to 0.35% of the service price per day
Interest rate: 20% annual maximum APR
Repayment Timeframe: 91 to 365 Days
The total amount due would be N20,000+N28+N1640=N21668 for a cash loan with a principal value of N20,000 and a 150-day loan term. As an example, the total service fee would be N20,0000.14%=N28 and the total interest would be N20,0008.2%=N1640.

It should be noted that this interest rate and loan term are merely examples; you should anticipate that your actual loan and duration will be substantially shorter. Nevertheless, you can enhance it by making timely loan payments and maintaining a solid credit history.

Lifeline loan app customer service number

  • Consumer hotline: 09049567810
  • Customer Service Email:  liifeline@gmail.com
  • Office: 23 awolowo way , ikeja Lagos

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