Aella Loan: 7 Things You Need To Know Before Taking A Loan From Aella

Aella is one of the popular Fintech institutions that offers loan and investment services to their users. The institution operates in Nigeria, Ghana and Philipine. This Fintech platform offers loans without collaterals. The company has many investors like Friale, YCombinator, Vy Capital and lots more. One interesting thing about Aella is that they give special considerations to women to support their businesses. 

Meanwhile, Aella has terms and conditions upon which they operate, hence it is best to understand their policies before opting for their services. Not only that, there are also criteria that one must meet to be able to access loans from the Aella platform.

However, the platforms claim that they offer excellent financial loan services to their esteemed customers, but some of their users hold contrary views about their mode of operation. Some of their customers frowned at their poor customer service. Nevertheless, if you are hearing about the Aella loan for the first time, it’s best to understand their policies to enable you to enjoy their services to the fullest. The subsequent sections are designed to keep you informed; stay tuned!

1. How Much Can You Borrow From Aella Loan

The amount of money that a customer can get from Aella is not fixed. The amount is determined by the customer’s credit score and the trustworthiness that the customer builds with the platform. Ordinarily, the amount of money that a user can get from an Aella loan ranges from N2,000 to N1,000,000. For new users, they may not be able to access huge amounts of money, but the amount will increase if the user has a good repayable history.

2. Aella Loan Interest Rate

The Aella loan interest rate ranges from 4% – 29%. The interest rate is not fixed because it is dependent on the exact amount that the customers borrow and the repayment plan chosen. In all, the higher the loan amount the higher the interest rate and vice-versa.

3. Aella Loan Summary

1.Loan repayment plan30 – 90 days
2.Interest rate4% – 29%
3.Available loan amount2,000 – 1,000,000
4.DocumentNo document or collateral required

4. Aella Loan Repayment Plan

The repayment plan for Aella loan ranges from 1 – 3 months. One good thing about this loan app is that there are no late or rollover fees. But to be on the safe side, it’s best to repay the loan as agreed to enable you to have a good repayable history.

5. Aella Loan Requirements

As we noted in the introduction, there are basic requirements that a user must meet before accessing the Aella loan. Some of the requirements are outlined below:

  • The applicant must have a functional bank account
  • The intending applicant must have a Bank Verification Number(BVN)
  • The user must have a verifiable identity card like driver’s license, National identity card etc
  • Person details like full name and address of the applicant must be handy
  • The applicant is expected to have a positive account balance

6. Aella Loan Review

Most of the users have different views about the Aella loan platform. Some are of the view that the platform is a safe haven for loan procurement while others have a contrary view. There are claims by some of their users that there are numerous cases of failed transactions.

According to reviews from Play Store, most of the users recounted the ugly experience of failed transactions. A part from that, some also complained about their  poor customer services.

On the other hand, from the same source some customers expressed satisfaction with the services offered by Aella loan platform.

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