Have you about the Naijaloan forum where a lot of individuals have made good money online from. We decided to take a look at the website and know what the platform is all about. You will also be more enlightened on the possible risks that come with transacting on the Naijaloan app if any.
What You Should Know About Naijaloan Forum
This is a money borrowing website that also avails users the opportunity to make good cash online from the comfort of their homes. The platform was established in March 2020 and has been the business of helping people financially in the form of loans since then.
The main mode of operation is the Member to Member lending that they implement. It means that whenever a user is giving out a loan to someone they will be giving it directly to another user of the Naialoan forum. With that said, asking for financial aid on the website means that your need will be met by another member of the platform if you end up successful.
It is safe to say that naijaloan forum plays the role of the middle-man that connects the lender to the borrower. You must understand that the only part they play is to link you with a potential lender or borrower and vise-versa. They don’t give out loans by themselves in summary.
You can up to 6 levels on the naijaloan, and potential members are allowed to begin their transactions on the lowest level with 1000 Naira. If you provide users a loan of 5,000 Naira (on level 2), you are going to receive 10,000 Naira (the 5,000 Naira you gave + 5,000 Naira interest). But at the same time, it means not only are you giving a loan of 5,000 Naira on the forum, though you are also obtaining 10,000 Naira.
How Does it Work?
- Level I
This is the default level for all members on the naijaloan forum. You must come up with 1000 Naira in order to receive 5000 Naira in the space of a single day which you can withdraw or use to get yourself to level 2.
- Level II
You’ll have to provide 5000 Naira to upgrade to level 2 and get 10000 Naira in 2 days which you can either cash out or use to upgrade to level 3.
- Level III
To upgrade to level 3, you’ll have to pay 10000 Naira and get 20000 Naira within 4 days which you can cash out or use to upgrade to level 4.
- Level IV
Here you will come up with 20000 Naira and make 40000 Naira within 6 days which you can cash out or use to upgrade to level 5.
- Level V
To upgrade to level 5, just pay 40000 Naira and stand to receive 80000 Naira in the space of 10 days when you can withdraw or upgrade to level 6.
- Level VI
This is the maximum level. You’ll have to pay 80000 Naira to upgrade to this level. The forum will give you 120000 Naira in the space of 10 days. Since this is the biggest level, you can only cash out everything and start from level 1 again.
How to Register on Naijaloan Forum
To register and become a member, you’ll have to pay #1000. Your default level will be level 1. Follow the steps below to register.
Visit the naijaloan Registration page here and click on “Get Started” as seen in the image below.
Then, fill in the required details correctly and click on “Register”. After that, you’ll be paired with someone. The person is who you’ll pay 1000 Naira. This usually takes a few minutes.