Getting a loan may be necessary if you want to start a new business or pay for an urgent business and personal expense.

In Nigeria, mobile lending platforms are changing the narratives of how we borrow loans. Their apps disburse loans to average Nigerians without any collateral or credit score. Interesting right😁? Sure.

One of these apps which I have used and personally tested is called “Branch“. I took a loan of ₦2,000 and I paid back ₦600 every week for 4 weeks. This means my loan repayment totalled ₦2,400 which is about 20% interest per month. I would be reviewing the platform below👇.

Branch App Review:

What is Branch?

Branch is a lending platform with a mission to deliver world-class financial services to the mobile generation. They currently operate in 5 countries with Nigeria inclusive, and they’re backed by world-renown investors like Visa, Foundation Capital, A16z, etc.

The platform offers loans from ₦1,000 to ₦200,000 and terms ranges from 4 – 40 weeks. In addition, interest ranges from 15% – 34% with an equivalent monthly interest of upto 21% and yearly rate of upto 261%, depending on your loan option. There are no late or rollover fees and no collateral necessary.

Why should you borrow money from branch?

Branch has over 3,000,000 customers and has issued $15,000,000 of loans thus far. Nevertheless, you should have a cogent reason why you want to borrow a loan or use the platform.

I would personally suggest you borrow loans only if you want to use the money to grow a business or invest in assets that brings in Cash Flow.

3 Steps to Borrow Money from Branch

If you have a very good reason to borrow a loan, the next step is to go ahead and download the Branch App. Afterwhich you follow the 3 basic application process below👇:

  1. Register on Branch using my referral link (that way we both get more loan offers) 👉:
  2. Complete registration with your Phone Number and Bank Account
  3. Access your initial loan of ₦2,000.

How does Branch determine their loan offers?

The loan offers you see depend on a number of factors, including your repayment history with Branch. If you repay each installment by its due date, you may unlock access to larger loans over time. Note that the increase may not always be immediate and that repaying your loan late may result in smaller loan offers.

How long does the application process take?

Branch usually process all loan within few hours. It all depends on the amount you’re borrowing because I got mine within 3 minutes.

What is Branch’s repayment policy?

  • In my own case, I was charged 20% interest rate. This means that I borrowed ₦2000, and paid back ₦2,000 plus ₦400 interest making a total of ₦2,400.
  • You should also note that my total loan repayment was made every week. So to complete my loan repayment of ₦2,400, I had to pay ₦600 every week for 4 weeks.

How should I repay Branch?

There are several ways to repay a Branch loan.

  1. In the Branch app with a debit card.
  2. Via USSD for GT Bank accounts only.
  3. In the Branch app with a bank account. At this time not all banks are supported.

To summarize, getting instant loans in Nigeria is much easier with the use of mobile lending platforms like Branch. If you would like to get your hands dirty by checking out their lending platform, kindly use my registration link, as we both get access to more loan amount👉:

Pls don’t forget to payup your loan ooh 😁😁😁 because If you do, it will end up affecting your credit score and loan offers.

If you have any questions or you want me to review another online platform. Kindly drop them in the comments below👇👇👇.

Thanks for reading this article. And until next time, keep learning 📖.