Fairmoney USSD Code: Your Complete Guide To Instant Loans In Nigeria (2025)

Last updated on December 8, 2025

Navigating financial needs in Nigeria often requires quick and accessible solutions. Fairmoney, a prominent Nigerian-French fintech company, has emerged as a key player in providing instant, collateral-free loans to individuals across the country.

Their innovative approach aims to bridge the financial access gap, especially for those who might not have traditional banking histories. This article will guide you on how to obtain a loan from Fairmoney, including using its USSD code.

One of the most convenient ways to access these services is through the Fairmoney USSD code. This simple dialing option allows users to apply for loans directly from their mobile phones, eliminating the need for a smartphone or an internet connection.

By leveraging smartphone data for credit scoring, Fairmoney makes financial services available to a broader population, ensuring quick loans are within reach for many Nigerians seeking immediate financial support.

Table of Contents

Key Takeaways: Fairmoney Loans at a Glance

For those seeking quick financial solutions, Fairmoney offers a straightforward lending platform. Here’s a summary of the essential details you need to know about Fairmoney loans, from loan amounts to repayment terms.

Fairmoney provides flexible options designed to meet various personal and business needs without requiring collateral or hidden charges.

Feature
Details

Loan Amounts
₦1,500 to ₦1,000,000

Repayment Periods
61 days to 18 months

Interest Rates (Monthly)
2.5% to 30% (APRs 30% to 260%)

Access Methods
Fairmoney USSD code (*566*15#) or Fairmoney mobile app (Android only)

Collateral Required
None

Hidden Charges
None

Important Note
Late repayments incur penalties and can negatively affect your credit score.

Understanding Fairmoney: A Digital Lending Powerhouse
Fairmoney stands as a significant Nigerian-French fintech company, officially authorized to offer loans across Nigeria. Since its launch in March 2017, it has become well-known for providing quick and collateral-free financial assistance to millions of individuals. While Fairmoney caters to a broad audience, other specialized institutions also offer unique financial products, such as Sharia-compliant business loans from Jaiz Bank, providing diverse options for Nigerian entrepreneurs.

The company’s innovative approach involves using a sophisticated scoring algorithm that analyzes smartphone data. This method allows Fairmoney to create credit scores for people who might not have access to traditional banking services, thereby expanding financial inclusion.

Crucially, the USSD channel plays a vital role in this mission. It ensures that financial services are accessible to a wider population throughout Nigeria, regardless of whether they own a smartphone or have a stable internet connection.

If you’re looking for a quick and accessible way to get a loan in Nigeria, the Fairmoney USSD code offers a straightforward solution. This method is especially useful if you don’t have a smartphone or a stable internet connection. For another option, you can also explore the Sokoloan USSD code and application process.

Here’s a simple guide on how to borrow using this service. Remember to always dial the correct code to ensure you’re accessing legitimate Fairmoney services and avoid any potential scams.

Step-by-Step Fairmoney USSD Loan Application

Dial the Code: From your mobile phone, dial the Fairmoney USSD code: *566*15#.
Follow On-Screen Prompts: Once dialed, your screen will display a series of prompts. Carefully read and respond to these instructions.
Check Eligibility and Select Amount: The system will guide you through checking your loan eligibility and allow you to select your desired loan amount.
Provide Personal Details: You will need to input necessary personal information as requested. A Bank Verification Number (BVN) is typically required for identity verification, so have it ready.
Review and Accept Offer: Fairmoney usually provides loan offers within minutes based on your details. Review the terms carefully before accepting.
Receive Funds: Upon acceptance, the approved funds are disbursed almost instantly into your registered bank account.

For those exploring various loan options, understanding how to borrow money from your First Bank account using specific codes can also be beneficial.
It’s crucial to provide accurate personal and BVN information to prevent any delays or rejection of your application. While Fairmoney’s loan service itself is free, be aware that standard network charges may apply for USSD interactions, depending on your mobile network provider.

Applying for a Fairmoney Loan via the Mobile App

For those with an Android smartphone and a stable internet connection, the Fairmoney mobile app provides another convenient way to access instant loans. This method offers a more visual and interactive experience compared to the USSD code.

Getting started is simple and quick. Please note that the Fairmoney app is currently available exclusively for Android devices on the Google Play Store. Users with iOS, Windows, or Blackberry phones will need to use the USSD code instead.

How to Get a Loan Using the Fairmoney App

Download the App: First, head to the Google Play Store on your Android device and search for “Fairmoney”. Download and install the official Fairmoney app.
Sign In or Register: Open the app and sign in using a phone number linked to your BVN, or you can use your Facebook account. Ensuring your phone number is associated with your BVN helps with seamless verification.
Answer Assessment Questions: The app will ask you a few questions. These help Fairmoney’s algorithm predict your credit score and determine suitable loan offers.
Receive and Accept Loan Offer: Based on your credit assessment, the app will present you with one or more loan offers. Review the terms and conditions carefully before accepting the offer that best suits your needs.
Fund Disbursement: Once you accept a loan offer, the approved amount will be disbursed directly into your registered bank account, often within minutes.

A stable internet connection is essential for both downloading the app and using it effectively for your loan application. Always ensure your phone number is correctly linked to your BVN for the smoothest possible verification process.

Fairmoney Loan Features, Benefits, and Eligibility

Fairmoney offers a flexible and accessible lending solution designed to meet various financial needs across Nigeria. Understanding the specific features, benefits, and general eligibility criteria can help you make an informed decision about borrowing.

One of the key advantages is that Fairmoney loans are entirely collateral-free, meaning you don’t need to provide any assets as security. This makes financial access easier for many individuals.

Key Features and Benefits of Fairmoney Loans

Loan Amounts: You can borrow amounts ranging from ₦1,500 up to ₦1,000,000, catering to both small and larger financial requirements.
Flexible Repayment: Fairmoney provides flexible repayment periods, from as short as 61 days to as long as 18 months, allowing you to choose a schedule that fits your budget.
Transparent Costs: Monthly interest rates typically fall between 2.5% and 30%, with Annual Percentage Rates (APRs) ranging from 30% to 260%. Importantly, there are no hidden fees or charges during the loan processing.
Quick Disbursement: Funds are disbursed rapidly, often within minutes of your loan approval, ensuring you get the money when you need it most.
Loan Management: Existing borrowers can benefit from options like loan top-ups and extensions, providing additional flexibility if your financial situation changes.

Fairmoney Loan Eligibility

While Fairmoney does not list explicit ‘requirements’ in the traditional sense, a Bank Verification Number (BVN) is absolutely essential. Your BVN is crucial for identity verification and plays a significant role in Fairmoney’s credit assessment process.

It’s important to remember that interest rates are personalized. They depend on factors like the specific loan amount you request, your chosen repayment period, and your individual credit assessment. Always take the time to read and fully understand the complete loan terms and conditions before accepting any offer.

Fairmoney Loan Repayment Options and Policies

Understanding how to repay your loan is just as important as knowing how to get one. Fairmoney offers several convenient ways to manage your loan repayment, ensuring you can settle your dues easily and on time.

It’s crucial to ensure you have enough funds in your account by the due date to avoid any penalties. Always double-check all transfer details, such as the account number and amount, before confirming any payment.

How to Pay Your Fairmoney Loan

Fairmoney provides multiple flexible options for settling your loan. You can choose the method that best suits your banking preferences and convenience.

Through the Fairmoney App: This is often the most straightforward method. Simply open your Fairmoney app, navigate to ‘Loan details’, and then select ‘Pay’ to initiate your repayment.
Direct Bank Transfer: For those who prefer bank transfers, Fairmoney assigns a unique Providus or Wema Bank account number specifically linked to your borrower’s name. You can transfer the repayment amount directly to this account.
USSD Transfer Repayment: If you prefer using USSD codes, Fairmoney facilitates this option. You will need to dial a specific code provided by Fairmoney, which combines your bank’s USSD code with the necessary transfer details. This method allows you to complete your repayment without needing internet access.
Debit Card Payment: You can also make payments using a debit card that you have registered within the Fairmoney app. Before using this option, make sure your bank has enabled your card for online transactions.

Whichever method you choose for your Fairmoney loan, remember to confirm the transaction details carefully. This helps prevent errors and ensures your payment is successfully applied to your loan.

What Happens If You Don’t Repay Your Fairmoney Loan?

Taking out a loan comes with the responsibility of timely repayment. Understanding the consequences of late or non-payment is vital for maintaining good financial health and ensuring future access to credit.

Fairmoney, like any responsible lender, has policies in place to address overdue loans. These policies are designed to encourage timely repayment and protect the lending ecosystem.

Consequences of Late or Non-Payment

If you fail to repay your Fairmoney loan by the agreed-upon due date, there are several significant repercussions you should be aware of:

Additional Fees and Penalties: Late repayment will incur an additional processing fee. Furthermore, a penalty of 0.2% per day is applied on top of the initial interest for any overdue loan amount. These charges can quickly add up, increasing your total repayment burden.
Negative Impact on Your Credit Score: One of the most critical consequences of not paying Fairmoney on time is the negative effect on your credit score. Your credit score is a reflection of your financial reliability, and a poor score can make it much harder to obtain future loans from Fairmoney or other lenders across Nigeria.
Reporting to Credit Bureaus: Fairmoney may report instances of loan default to credit bureaus. This action can severely impact your financial standing and limit your access to various financial services in the future.

It is always best to prioritize your loan repayment to avoid accumulating additional charges and damaging your credit history. If you find yourself facing difficulties in making a payment, it’s crucial to contact Fairmoney customer service proactively.

Discussing your situation with them early might allow for potential solutions or extensions, which is far better than simply defaulting on your loan.

Common Questions About Fairmoney Loans (FAQ)

Navigating instant loans can sometimes bring up questions. Here are answers to some common queries about Fairmoney loans, from application issues to customer support.

Understanding these points can help you manage your loan experience more smoothly and avoid common pitfalls.

Why was my Fairmoney loan rejected?

Loan applications can be rejected for a few reasons. This might include insufficient phone usage data, which Fairmoney uses to assess your profile, or other aspects of your user profile review. If your initial application is rejected, you can typically reapply for a loan after 15 days.

Why does Fairmoney require my BVN?

Fairmoney requests your Bank Verification Number (BVN) primarily to verify your identity. This is a crucial step in preventing loan defaults across different lending platforms and ensuring the security of your financial transactions.

How can I find my BVN?

To easily find your BVN, simply dial *565*0# from the phone number that is linked to your bank account. This USSD code provides a quick way to retrieve your BVN.

What if I don’t have access to the phone number linked to my BVN?

If you no longer have access to the phone number associated with your BVN, you will need to visit your bank in person. They can assist you with updating your registered phone number.

I’m having issues linking my debit card. What should I do?

Card linking issues often occur if your debit card is not enabled for online transactions by your bank. You will need to contact your bank to ensure your card is properly set up for online payments.

How do I contact Fairmoney customer service?

Fairmoney’s primary customer service channel is email. You can reach them at help@fairmoney. ng for support.

Please note that Fairmoney currently does not offer phone support.

Does Fairmoney have a physical office or headquarters I can visit?

No, Fairmoney does not have a public physical office or headquarters for customer visits. All customer support and services are handled remotely, primarily through their app and email.

Is the Fairmoney app available for iPhones (iOS)?

Currently, the Fairmoney app is only available for Android phones. You can download it directly from the Google Play Store.

Always remember to use only official Fairmoney contact channels for support and be cautious of any phishing attempts or unofficial apps claiming to be Fairmoney.

Conclusion: Unlock Financial Freedom with Fairmoney

The Fairmoney USSD code and its user-friendly mobile app offer a remarkably convenient and rapid way to access loans across Nigeria. This digital approach means you can often secure the funds you need quickly, right from your phone.

It truly simplifies the borrowing process for many individuals seeking digital loans in Nigeria. Fairmoney’s model plays a vital role in promoting financial inclusion by providing collateral-free loans with flexible terms.

This accessibility empowers a broader range of people who might not qualify for traditional bank loans. It’s about giving more Nigerians practical financial options. To ensure a positive borrowing experience and truly achieve financial freedom with Fairmoney, it’s essential to fully understand the application process and all available repayment options.

Being aware of the potential consequences of late payments is also crucial. Always borrow responsibly and ensure you can meet your repayment obligations to maintain a healthy financial standing.