If you’re looking for quick and easy access to a loan in Nigeria, you’ve probably heard of Sokoloan. With its app and website, Sokoloan offers personal loans to Nigerians without the need for collateral or a guarantor. But before you dive into the world of Sokoloan, here’s what you need to know.
Sokoloan is an online loan lender in Nigeria that provides short-term loans to Nigerians through secured mobile app. The lending platform is owned by a microfinance institution registered as Soko Lending Company Limited, which mainly focuses on providing financial services to low-income entrepreneurs, small businesses, female entrepreneurs, and students.
The platform is available 24 hours a day, 7 days a week and the registration process is fast. Unless there is a bug. They promise instant loans for applications. Applicants do not need collateral to access the loans. The only way to apply is through the mobile app.
Sokoloan Requirement:
Here is the requirement for getting a loan:
- Valid bank details
- Bank verification number (bvn)
- An active phone number
- An android phone
- Internet connection
- An identifier
- Valid atm card (for refund)
- You must be a working adult or self-employed.
How To Get A Loan From Sokoloan
Follow these steps to get a loan from Sokoloan:
1. Download the mobile app
To get a loan you need to download the application. They only provide loans through the mobile app. You can visit the Google Play Store to download the app.
2. Sign in
After downloading and installing the app on your phone, click on it to subscribe. Just follow the instructions and fill in the registration details, starting with verifying your phone number. To complete the registration, basic information is required, such as your name, email address, phone number, and so on. You can learn how to login here.
3. Apply for a loan
After completing your registration, simply apply for a loan. In the app, you will see the option to apply. You receive a loan offer
4. Submit your application and wait for the loan decision
After you have seen the loan offer, expected repayment date, and all other necessary information, if you agree, submit your application. You then have to wait for a decision on the loan. This won’t be long in coming. Wait a few minutes or an hour.
Sokoloan USSD Code?
If you’re used to dialing shortcodes for getting loans, sad to break to you that, there is no Sokoloan USSD Code for now. To get a loan from Sokoloan, you might have to use Sokoloan, as there is no Sokoloan USSD Code now.
How much can you borrow?
You can get a loan from 5,000 to 100,000. Keep in mind that you will only get a small loan on the first attempt. If you pay on time, you will get a bigger offer. Other factors can affect how much you get. One is your credit score.
Sokoloan Interest Rate
The interest rate is 4.5% – 34% with a monthly interest equivalent of 3% – 29% and an APR of 29% – 365%. You will get a better interest rate by paying off the loan on time and also referring people to the application.
Loan Term
The loan term varies from 7 to 190 days
Sokoloan Repayment
The loan term varies from 7 to 190 days. Please make this clear before submitting your application.
You can pay off the loan with your debit card. When applying for a loan, you must add your debit card to your profile. Your loan will be deducted from the card you have added at maturity.
All you need to do is deposit money into your account, open the app, and pay. In case of problems, please contact customer service immediately.
Please note that you cannot reschedule your loan date with them. You must pay no later than the due date. However, if you have any problems paying, be sure to contact them.
How To Contact Sokoloan Customer Care?
The customer support phone number is 01-4536792 or 08148799371. The customer support email address is admin@sokoloan.com or sokolending@gmail.com
Sokoloan website
The site is
Sokoloan headquarters
The head office is located at 9, Acme Road, Agidingbi Ikeja, Lagos
Sokoloan Whatsapp Number: Get Help and Support
If you need help with your Sokoloan account or have questions about their services, you can reach out to their WhatsApp number at +234 906 254 1747. You can also send a message to this number to report harassment or file a complaint.
Sokoloan Loan App: Borrow Money with Ease
Sokoloan offers personal and business loans to eligible Nigerians. With their loan app, you can apply for a loan in minutes and receive your loan disbursement within hours. The loan application process is straightforward, and you’ll receive a loan decision within minutes of submitting your application.
Sokoloan Loan App Download: How to Get Started
To download the Sokoloan loan app, simply search for “Sokoloan” on the Google Play Store or the App Store. Once you find the app, click on “Install” and follow the prompts. You’ll need to provide some personal information and verify your identity to complete the application process.
Download Sokoloan App for Android: How to Get Started
To download the Sokoloan app on your Android device, go to the Google Play Store and search for “Sokoloan”. Once you find the app, click on “Install” and follow the prompts. You’ll need to provide some personal information and verify your identity to complete the application process.
If you’re an Android user and want to get started with the Sokoloan app, follow these steps:
- Open the Google Play Store on your Android device and search for “Sokoloan”.
- Once you find the app, click on “Install” to download and install it.
- Once the app is installed, open it and click on “Register” to create a new account.
- Enter your personal information, including your name, phone number, email address, and date of birth.
- Next, you’ll need to verify your identity by providing some additional information, such as your BVN and a valid ID card.
- Once you’ve verified your identity, you’ll be able to access the loan application page.
- Select the loan amount you want to borrow and the repayment period.
- Review the loan terms and conditions and accept them.
- Submit your application and wait for it to be processed.
If your loan application is approved, the funds will be disbursed to your account within minutes. Keep in mind that the amount you can borrow and the interest rates will depend on your creditworthiness and other factors. Be sure to read the terms and conditions carefully before accepting a loan, and borrow only what you can afford to repay.
Download Sokoloan App for iPhone: How to Get Started
To download the Sokoloan app on your iPhone, go to the App Store and search for “Sokoloan”. Once you find the app, click on “Get” and follow the prompts. You’ll need to provide some personal information and verify your identity to complete the application process. Here are the steps you need to follow to get started with the Sokoloan app on your iPhone:
- Open the App Store on your iPhone and search for “Sokoloan”.
- Once you find the app, click on “Get” to download and install it.
- Once the app is installed, open it and click on “Register” to create a new account.
- Enter your personal information, including your name, phone number, email address, and date of birth.
- Next, you’ll need to verify your identity by providing some additional information, such as your BVN and a valid ID card.
- Once you’ve verified your identity, you’ll be able to access the loan application page.
- Select the loan amount you want to borrow and the repayment period.
- Review the loan terms and conditions and accept them.
- Submit your application and wait for it to be processed.
If your loan application is approved, the funds will be disbursed to your account within minutes. Keep in mind that the amount you can borrow and the interest rates will depend on your creditworthiness and other factors. Be sure to read the terms and conditions carefully before accepting a loan, and borrow only what you can afford to repay.
Why Choose Sokoloan APK?
- Quick and Easy: Sokoloan offers fast approvals within 5 minutes, ensuring that you get the funds you need promptly.
- No Collateral Needed: Unlike traditional lending institutions, Sokoloan doesn’t require any collateral to grant you a loan.
- Flexible Repayment: With repayment terms of 91 to 180 days, borrowers can choose a schedule that aligns with their financial capabilities.
- Competitive Interest Rates: The app provides competitive interest rates, making it a cost-effective solution for your financial needs.
- Privacy and Security: Sokoloan ensures the confidentiality of your personal information and promises not to share it with third parties.
List of Loans Available on Sokoloan Apps: Which One Is Right for You?
If you’re not sure which Sokoloan app to download, here’s a breakdown of each app’s features:
- Sokoloan: Offers personal loans of up to ₦100,000 for first-time borrowers
- Sokoloan Business: Offers business loans of up to ₦500,000 for entrepreneurs
- Sokoloan SmartCash: Offers loans of up to ₦500,000 for salary earners
Sokoloan APK: Is It Safe?
Downloading the Sokoloan APK from third-party sources can put your device and personal information at risk. It’s best to download the app from the Google Play Store or the App Store to ensure that you’re getting the legitimate and safe version of the app.
Is Sokoloan approved by CBN?
Yes, Sokoloan is registered and approved by the CBN. Sokoloan is an online lending platform that provides quick and easy access to loans without collateral. The platform offers loans ranging from ₦10,000 to ₦100,000 with a repayment period of 7 to 180 days. Sokoloan is duly registered with the Corporate Affairs Commission (CAC) in Nigeria and operates under the guidelines of the Central Bank of Nigeria. Therefore, it is a legal and approved loan app in Nigeria.
How To Stop Sokoloan From Accessing My Contacts?
If you’ve granted Sokoloan permission to access your contacts and want to revoke that permission, you can do so by following these steps:
- Open your device’s settings app.
- Scroll down and select “Apps & Notifications.”
- Find and select the Sokoloan app from the list of apps.
- Select “Permissions.”
- Find the “Contacts” permission and select it.
- Toggle off the switch next to Sokoloan to revoke the permission.
Once you’ve turned off the contacts permission, Sokoloan will no longer be able to access your contact list. Keep in mind that if you’ve already granted permission, Sokoloan may have already accessed your contacts and stored them on their servers. If you’re concerned about your privacy, you can contact Sokoloan’s customer care team to request that they delete your contact information from their servers.
Sokoloan Harassment: What You Need to Know
There have been reports of Sokoloan customers receiving harassment calls and messages from the company. If you experience harassment from Sokoloan, you can contact their customer care number or send a message to their WhatsApp number. Sokoloan takes customer complaints seriously and has measures in place to address harassment claims.
Fast Money with Sokoloan: Is It Worth It?
While Sokoloan offers fast and easy access to loans, it’s important to consider the interest rates and fees associated with borrowing money. Make sure you read and understand the terms and conditions of the loan before accepting it. Borrow only what you need and can afford to repay.
How to Delete My Sokoloan Account
If you no longer want to use Sokoloan or want to delete your account for any reason, you can contact their customer care number or send a message to their WhatsApp number. They’ll guide you through the account deletion process.
How Many Apps Does Sokoloan Have?
Sokoloan has multiple apps available for download on the Google Play Store. These include the Sokoloan app, Sokoloan Business, and Sokoloan SmartCash.
Say No to Sokoloan: Borrow Responsibly
While Sokoloan offers fast and easy access to loans, it’s important to borrow responsibly. Make sure you understand the terms and conditions of the loan and only borrow what you need and can afford to repay. If you’re struggling with debt, seek help from a financial advisor or credit counseling service.
Sokoloan USSD Code FAQ
Is Sokoloan Legitimate?
Sokoloan is a legitimate microfinance institution in Nigeria. It is owned by Soko Lending Company Limited and operates within the legal framework set by Nigerian financial regulators.
What Are the Interest Rates for Sokoloan?
Sokoloan offers interest rates ranging from 4.5% to 34%, depending on the loan amount and repayment period chosen by the borrower.
What Are the Eligibility Criteria for Sokoloan?
To qualify for a loan from Sokoloan, applicants must be Nigerian citizens with a valid bank account, active phone number, BVN, and a stable source of income.
What is the Loan Repayment Period for Sokoloan?
Sokoloan offers a loan term ranging from 7 to 190 days, providing borrowers with flexibility in choosing a suitable repayment period.
Conclusion
In conclusion, Sokoloan is one of the most popular loan apps in Nigeria, offering a fast and convenient way to access funds when you need them. Whether you need money for an emergency expense, to pay bills, or to make a major purchase, Sokoloan can help. With its user-friendly app and responsive customer care team, getting a loan from Sokoloan is simple and straightforward.
However, it’s important to remember that borrowing money is a serious responsibility. Before accepting a loan from Sokoloan or any other lender, make sure you understand the terms and conditions of the loan, including the interest rate, repayment period, and any fees associated with the loan. It’s also important to borrow only what you can afford to repay and to make your payments on time to avoid late fees and damage to your credit score.
If you’re experiencing harassment from Sokoloan or any other lender, don’t hesitate to take action. You can report the harassment to the appropriate authorities or contact Sokoloan’s customer care team for assistance. And if you’re struggling with debt or financial problems, seek help from a financial advisor or credit counseling service.
At the end of the day, the key to a successful borrowing experience is to be informed, responsible, and proactive. With Sokoloan, you can access the funds you need quickly and easily, but it’s up to you to make sure that you’re using those funds wisely and responsibly.
