What is the lapo microfinance bank ussd code? In this post, you’ll find the answer to this and many other questions that people often ask. Learn about Lapo Microfinance Bank | List of lapo microfinance bank loans.
You can get a loan from Lapo, which is one of the microfinance banks in Nigeria that does business online. All you need is their USSD code, and you won’t have to put up any collateral or fill out any paperwork.
But the loan amount you can get with the Lapo USSD code may be very small. It can be anywhere from 5,000 to 350,000 Naira.
If you want a bigger loan, you will have to sign in to their website or use their mobile app.
What is the USSD code for Lapo?
*371# is the Lapo USSD code. With this code, you can get a loan from the bank while sitting on your couch at home. In other words, this code has made it easier than ever to borrow money from Lapo. See Biu Money Loans Zambia & How to Register & Apply for Loan
Requirements for Lapo Loan
To get a loan from Some Lapo, either through the USSD code or online, you have to meet some requirements. The requirements are easy to meet compared to applying in person.
- You must either be a citizen of Nigeria or have permission to reside there.
- You must have a bank account that is open and linked to your BVN.
- You must have had good credit before you turned 18 at the latest.
- Have a Legit source of income.
How to get Lapo Loan
Do you want to ask Lapo for money on your phone right now? Just dial the code *371# on the SIM card that is linked to your bank account.
If you meet the requirements, you will be given a choice of loans.
Choose one of the options, and then move on to the next step.
If you are approved for a Lapo loan, the money will be sent to your bank account right away.
The network (SIM) you used to get the loan is linked to your bank, so you don’t have to worry about paying it back. This means that the loan will be taken out of your bank account automatically on the due date. All you have to do is make sure your bank account has enough money in it.
Rate of Interest
Depending on how much money you borrow, the interest rate you pay could be anywhere from 2% to 25% of the total loan amount. The time it takes to pay back a USD loan is one month, but it could take up to a year to pay back a physical loan.
Access to money to grow a business
Access to other business loan products, like mid-term and asset loans, to help the client’s business grow.
Flexible repayment structure
Training on how to manage money, plan a business, and deal with customers.
A low rate of interest
Expert financial advice is available
You can now easily ask for a lapo loan without leaving your house. But I think you should only borrow money if you know how to pay it back.