Getting access to quick money when you need it can be a big relief, especially when business or family expenses come up unexpectedly.
Many Nigerians are now using digital microfinance banks for fast, stress-free loans instead of going through long processes at traditional banks.
One of the most popular and trusted loan apps that has proven reliable over time is EaseMoni, owned and operated by Blue Ridge Microfinance Bank Limited, a financial institution licensed by the Central Bank of Nigeria (CBN).
EaseMoni gives instant loans without collateral, paperwork, or long waiting periods. The application is completely online and can be completed in minutes using your smartphone.
In this article, we’ll walk you through every step to borrow money from EaseMoni, what you need before applying, and important information about their interest rates and repayment process.
About EaseMoni Loan App
EaseMoni (sometimes written as EasyMoni) is a digital loan platform created by Blue Ridge Microfinance Bank, headquartered in Lagos, Nigeria.
The app provides personal and business loans to eligible Nigerians, helping them meet urgent financial needs quickly.
- Licensed by: Central Bank of Nigeria (CBN)
- Operator: Blue Ridge Microfinance Bank Limited
- Maximum Loan Amount: ₦2,000,000
- Loan Tenure: 91–365 days
- Interest Rate: 12%–30% monthly (depending on credit score and repayment history)
- Support Email: easemoni@blueridgemfb.com
EaseMoni’s main focus is convenience, users can apply, receive, and repay loans all through the app without visiting any office or filling paper forms.
Requirements to Borrow on EaseMoni
Before you can borrow money, you must meet some basic requirements:
- Be a Nigerian citizen aged 18 years or older.
- Have a valid BVN (Bank Verification Number).
- Have an active phone number and a smartphone with internet access.
- Own a bank account linked to your BVN.
- Have a steady source of income or verifiable cash flow history.
- No unpaid loans or active blacklisting on other loan apps or credit bureaus.
Step-by-Step Guide to Borrow Money on EaseMoni
Follow these steps carefully to borrow from EaseMoni successfully:
Step 1: Download and Install the App
- Go to the Google Play Store and search for “EaseMoni—Instant loan online.”
- Download and install the official app (avoid third-party links or APK sites).
- App size is around 16–20 MB and has over 5 million downloads as of 2025.
Step 2: Create an Account
- Open the app and tap “Sign Up” or “Register.”
- Enter your mobile number (the same number linked to your BVN).
- You will receive a One-Time Password (OTP) via SMS—input it to verify.
Step 3: Fill in Your Personal Details
- Provide your full name, date of birth, BVN, and valid ID (e.g., NIN, driver’s license, or voter’s card).
- The app automatically checks your credit record and history from the credit bureaus.
Step 4: Link Your Bank Account
- Add your bank account number (where your loan will be credited).
- Ensure the account name matches your BVN name.
- EaseMoni supports all major Nigerian banks, including GTBank, Zenith, Access, UBA, and FirstBank.
Step 5: Choose Loan Amount and Tenure
- Tap “Apply for Loan.”
- Select your desired loan amount (from ₦3,000 to ₦2,000,000).
- Choose a repayment period between 91 and 365 days.
- Review the displayed interest and total repayment amount.
Step 6: Submit Application
- Confirm all details and tap “Apply.”
- The system will process your credit evaluation in a few seconds.
Step 7: Loan Approval and Disbursement
- If approved, your loan will be disbursed directly into your linked bank account.
- You’ll also receive an SMS confirmation and in-app notification.
- Disbursement usually takes less than 10 minutes once approved.
EaseMoni Loan Interest Rate (2025 Update)
EaseMoni applies flexible interest rates based on your credit score and loan history.
- Monthly interest: 12%–30%
- APR (Annual Percentage Rate): 60% – 120%
- Loan Tenure: 91–365 days
Example: If you borrow ₦100,000 for 3 months at 10% per month:
Interest = ₦30,000 → Total Repayment = ₦130,000.
Returning users who pay on time get lower rates and higher borrowing limits.
Repayment Process
EaseMoni offers multiple repayment options for convenience:
- Auto Debit: The app automatically deducts repayment from your linked account on the due date.
- Manual Payment: You can repay earlier using the Repay Now option inside the app.
- Bank Transfer: Repay directly into your assigned EaseMoni repayment account shown in the app.
Always make sure your repayment account is funded before your due date to avoid penalty or extra interest.
Frequently Asked Questions (FAQs)
1. How much can I borrow from EaseMoni?
You can borrow between ₦3,000 and ₦2,000,000 depending on your credit score and repayment record.
2. How long does it take to get approved?
Most loans are approved within 5–10 minutes after applying.
3. Do I need collateral or a guarantor?
No. EaseMoni doesn’t require any collateral or guarantor.
4. What happens if I can’t repay on time?
A daily penalty may be added, and your BVN may be reported to credit bureaus, affecting future loans.
5. Can I apply for another loan while still owing?
No. You must repay your current loan before applying for a new one.
6. Is EaseMoni safe to use?
Yes. It is owned by Blue Ridge Microfinance Bank, licensed by CBN, and follows FCCPC lending guidelines.
Conclusion
EaseMoni remains one of the most reliable and easy-to-use loan apps in Nigeria. The process is straightforward, approval is fast, and repayment options are flexible. If you maintain a good repayment history, your loan limit will increase over time with reduced interest rates.
Just make sure you borrow responsibly, use the funds wisely, and repay on time to build a positive credit record.
