About MoniNow

  • What is MoniNow?

    MoniNow is a digital lending platform through which people can apply for and obtain loans of up to ₦300,000. Complete our application and start enjoying our offerings.

  • Where is MoniNow located?

    MoniNow is located in Lagos, Nigeria.

  • How can I get in touch with you?

    You can send a mail to hello@moninow.com or call +2348079893505 or +2348079893501 or send us a message on any of our social media handles.

Accessing Loans

  • How do I apply for a loan?

    Visit here to apply for loans or download the MoniNow app from your app store.

  • How much can I borrow?

    Our loan sizes range from ₦1,000 to ₦300,000. If you repay loans as scheduled, the amount that you can borrow will increase.

  • How do you determine my loan offers?

    The loan offers you see depend on a number of factors, including your credit check and repayment history with MoniNow. If you repay each installment by its due date, you may unlock access to larger loans over time.

  • What's the largest amount I can take?

    The largest loan amount we currently offer is ₦300,000. To access this amount you need to take and successfully repay the smaller amounts as scheduled and gradually build your credit limit.

  • What are the requirements?

    There are no prescribed requirements for our fast cash loans. However, for our salary loans, if you are salary earner based in Lagos, we will require you to complete the application process and submit the supporting documents - bank statement (last 3 months, where your salary is being paid), work ID, valid ID (drivers license, international passport, national ID card, voters card).

  • Who can access MoniNow loans?

    Anyone can access our fast cash loans. However, our salary loans are currently available to only salary earners living in Lagos.

  • Why do you require my BVN?

    We need your BVN to make a verification check on you and to access your credit worthiness. It is also a standard CBN process for KYC. Your details are very safe with us.

  • How long does the application process take?

    Once all documentation is submitted, we aim to process all loan within 24 hours. We hope to reduce it soon to just a few minutes.

  • What is the interest rate?

    Interest rates and loan amounts vary based on your personal information and loan repayment history. Interest rates can decrease, and loan amounts can increase, with good repayment history.

  • Why was my loan request declined?

    We aim to make you an offer every time you make a request. However, in instances where we are unable to ascertain your personal information, your documentation is incomplete or you fail the credit check, we may not be able to make you an offer.

  • Can I have more than one loan running at the same time?

    You cannot have more than one loan at a time. When you pay off your existing loan, you can re-apply for another loan.

Loan Repayments

  • How do I repay MoniNow?

    There are several ways to repay a MoniNow loan.
    a)In the MoniNow app with a debit card.
    b)Via bank transfer to your unique account number or our commercial bank account.
    c)On our online platform with a debit card.
    If you are having trouble with repayments please retry or contact us.

  • Can I extend my loan tenor?

    No, you cannot currently extend an existing facility loan tenor.

  • Can I pay down my outstanding loan before the end of the loan tenure?

    Yes, you can pay down/liquidate your existing facility at any time.

  • Do I have to pay my loan with the same card I registered with when I applied for the loan?

    You can repay your loan using any valid debit card. If you previously registered a card and would like to change that card, please do so on your account on the app.

  • Can I repay my MoniNow loan on another platform.

    No. Please check our FAQs or contact us to view the list of our verified repayment methods. Any repayment method that is not on this list is fraudulent. Please beware of fraudulent actors that attempt to steal your funds by posing as a MoniNow repayment option. If you come across such fraudulent actors, please report them to our customer support.

  • What happens if I do not pay back my MoniNow loan?

    You must repay your loans when due. In the unfortunate event that you do not repay your loan on the due date, we will charge an additional default fee. If you still do not repay, further penalties, as agreed in the terms and conditions, will be issued. Late repayments will affect your ability to get subsequent or larger loans. If you are very late on your payments, we may report to the National Credit Reference Bureau (CRB). Being listed with the CRB will block you from getting access to loans from other lenders and may also affect your ability to get a job with certain employers

My Account

  • How do I validate my contact number?

    If you are having trouble validating your contact number, contact our customer care. We will resend the validation code to you.

  • How can I know my BVN?

    To know your BVN, dial *565*0# from the phone number linked to your bank account. Please note that your provider may charge N20 for each check.


  • Can I trust MoniNow with my BVN and account details?

    We use world-class data security and encryption techniques to protect the data you share with us. MoniNow never shares your information with third parties. We do not sell your data or credit profile.

  • Why do you need permission for my phone?

    MoniNow uses data from your phone to make lending decisions. This data is a crucial part of our decision making process, and allow us to provide seamless and efficient financial services.

  • How do I know that MoniNow loans are genuine and not a scam?

    We are duly registered with relevant regulators and stakeholders including the Central Bank of Nigeria and have processed loans to many Nigerians so rest assured that our offers and products are genuine.

  • What are your Terms of Use and Privacy Policy?

    Please read our Terms of Use and Privacy Policy.