FirstNell Personal loan app

FirstNell  Loan amount: ₦50,000 – ₦250,000 Loan term: the shortest is 91 days, the longest is 365 days Daily interest rate: 0.0057% Maximum annual interest rate APR: 20.55%

Calculating the number is very easy. For example, if you choose a 12-month 100,000 loan principal, we will show the details below:

Installment plan: 12.
Principal: ₦100,000.
Amount of expenditure: ₦100,000. Amount of expenditure = principal – expenses ₦100,000 – ₦0 = ₦100,000.
PMT (monthly payment amount): ₦10045.8. PMT = ₦100,000 x (1 + 20. 55%)/ 12 = ₦10045.8.
Cost:₦O.
Total interest: ₦20,550.
Total amount: ₦120,550. Total amount = principal + Total interest = ₦120,550.
Total interest rate: 20.55%. Total interest rate = total interest / principal * 100% =, ₦120,550 / ₦100,000 * 100% = 20.55%.
Monthly interest: 1.71%. Monthly interest = total interest rate / installment = 20.55% / 12 = 1.71%. In First Nell

1. Create your account.
2. Apply in seconds.
3. Receive your loan straight into your bank account.
4. Increase your loan limit every time you repay a loan.

Loan Eligibility

1. Nigeria Citizen.
2. Above 18 years old.
3. Valid Documents and proofs.
4. Must have active bank accounts.
Merit Finance Credit Corporation Limited is a Systemically Important Microcredit Company within the group of companies carrying the Soft Naira brand.

Merit Finance Credit Corporation Limited built FirstNell as a Free app.
All loan applications are approved and sanctioned by CBN(Central Bank of Nigeria) and communicated upfront during Loan application.

Address: Trans Amadi industrial layout of community secondary school road, Port Harcourt, Nigeria
E-mail: [email protected]
Mobile: +234 8056294848.
Working hours:
Monday to Friday: from 9:00 am to 6:30 pm
Saturday to Sunday: From 10:00 am to 6:00 pm

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