The rise of digital fintech platforms has revolutionized financial services, providing Nigerians with convenient access to seamless transactions right from their smartphones. Among the notable online fintech platforms in Nigeria, Aella Credit stands out as a comprehensive solution. This overview will delve into the features and benefits of the Aella Credit platform.
An Overview of Aella Credit Loan
Aella Credit App is an online fintech platform that offers a wide array of financial services, including easy access to loans, quality insurance, solid investments, and streamlined payments. Founded in 2015, Aella Credit emerged as Africa’s first online lending platform, catering to the continent’s largest market.
Today, the platform serves millions of Nigerians annually, empowering them to secure loans, make payments, obtain insurance, and invest wisely. Aella Credit offers a remarkable four-in-one package, ensuring its users receive top-notch services across various financial needs. The platform’s primary goal is to bolster financial access in emerging markets, thereby enhancing the financial capabilities of businesses and individuals through convenient loans.
What services does Aella Credit offer?
Basically, the Aella platform offers four products to customers. These products include:
1. Loans
This platform allows you to apply for loans and get them within 5 minutes. It is one online lender that many people trust in Nigeria. As a user who wants a loan from this platform, you need to download the app and set up an account for yourself. Thereafter, the platform will permit you to obtain loans, based on your credit score.
2. Investment
The investment feature on this platform is called “Aella Note”. With the notes feature, you can invest and cash out safely. The minimum amount of money users can invest on this platform is N10,000 and users can invest a maximum of N100,000.
Also, as one of their investors, you should expect an interest rate of between 16% – 20%. If you invest for 3 months, your investment will attract 16% interest. A 6-month investment attracts an interest rate of 18%. Lastly, investing for one year gives you an interest of 20%.
3. Insurance
Aella app, in partnership with Hygenia HMO, has provided Nigerians with easy access to health insurance services. Basically, as one of their users, you can get access to affordable micro-heath plans through their product called “Aella care”.
To access this service, all you have to do is to visit the app, select your preferred insurance plan, provide your details, and subscribe to it. It is very affordable.
4. Pay Bills
Do you need to pay your data subscription fee or other utility bills? The Aella platform can grant you access to that all from your smartphone. Hence, you can pay your bills without any stress and from the comfort of your home.
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How can I apply for an Aella Credit loan?
The loan application process on this platform is very simple and easy to understand. Follow the guideline below to get a loan from this platform:
1. First, download the Aella app. You can download this mobile app from the App Store or Google Play Store.
2. Next, install and launch the app, then create your digital account by registering your details on the app.
3. After you have registered successfully, you will see how much loan you are eligible to borrow. Usually, this amount is calculated on your creditworthiness.
4. Thereafter, apply for a loan within your limit. If your application is successful, you will receive the funds in less than 5 minutes.
Note that you have to repay your loan on time if you want the platform to grant you access to larger amounts.
What is the maximum amount I can borrow from Aella Credit?
The amount of loan people can get on the Aella platform ranges between N2,000 to N1,000,000. Hence, you can access a minimum of N2,000 and a maximum of 1,000,000. Remember to pay back your loan on time, as this will qualify you to access a higher loan amount.
What is the interest rate on Aella Credit loan?
The interest rate on all loans you receive on this platform ranges between 6% to 20%, depending on some factors. Basically, factors like the loan amount you borrow and the loan tenor can affect the interest rate of any loan you receive. The higher the loan amount and tenor, the higher the interest rate on your loan.
What is the loan duration?
This platform generally offers borrowers a loan duration of 3 months. So within 3 months, you have to repay your loan. However, in special cases, they may extend your loan duration more than the 3-month period.
How can I pay back my loan on Aella?
Basically, there are two ways you can repay your loan on this platform. They include:
A. Debit Card
To pay back your loan through this method, follow these instructions:
1. Open the app and tap open the menu section.
2. Next, navigate to the ‘Your Loans’ options and tap on it.
3. Thereafter, click on the ‘Repay/Pay Now’ tab and you’ll see the card linked to your Aella account. Tap on this card option to pay off the debt with your credit card.
B. Money Transfer
To pay back your loan through the money transfer method, follow these instructions:
1. Open the mobile app and click on the menu section.
2. Next, click on ‘Your Loans’. You’ll find a unique account number linked to your Aella account.
3. Pay your loan to that account number. For more details on how to pay back your loan, reach out to Aella through their customer support.
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How can I contact Aella Credit?
You can reach Aella Credit via any of the ways listed below:
Email Address: support@aellacredit.com
Website: www.aellaapp.com
Alternatively, you can reach Aella through the customer care centre on their mobile application.
Wrapping Up
The Aella Credit platform is a reputable platform that provides you with some unique fintech products. Basically, this platform enables you to borrow instant loans, invest, pay bills, and get insurance coverage for yourself. If you want to access these benefits, all you should do is download the Aella app from Google Play Store or the App Store.
