As one of Nigeria’s growing financial institutions, Moniepoint has made quite a name for itself. Its integration with a range of financial services has seen it become a favorite for several small and medium-sized business owners. If you are reading this, it’s assumed that you are also one of the many persons who are asking the question “Does Moniepoint offer loans in Nigeria?” In this guide, we provide an answer to this question as well as give you some other information you need to know about this fintech company.

Moniepoint: Brief Overview

Moniepoint is primarily known for its mobile money agency platform. They’re renowned for facilitating seamless financial transactions like funds transfers, bill payments, and airtime recharge.

As Nigeria’s population keeps growing, more and more people need better ways to handle their money. Moniepoint saw this and decided to create a platform that makes it easier for Nigerians to use their money in a modern way, like online banking. The aim is to help regular Nigerians with their daily money needs and make it simpler to do transactions without using cash. This also helps more people become part of the banking system.

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The Core Services Offered by Moniepoint

Moniepoint caters to various financial needs in Nigeria, and some of them include:

  • Bill Payments: Paying bills can be a hassle, especially with the unpredictable network issues in Nigeria. Moniepoint provides a stable platform for Nigerians to pay their bills without a hitch.
  • Airtime Recharge: Running out of airtime? Moniepoint has you covered. You can recharge your mobile line without any extra charges.
  • Funds Transfer: Whether you’re sending money to a loved one or paying for a service, Moniepoint ensures that your transaction goes through smoothly.
  • Cash Withdrawal and Deposit: Beyond digital transactions, Moniepoint also facilitates physical cash transactions. With their wide network of agents, you can withdraw or deposit cash at a location near you.

Does Moniepoint Offer Loans?

Now to the question of the day. Does Moniepoint give loans to Nigerians? Yes indeed, Moniepoint does offer loans to Nigerians, however, the loans are meant for those who need them to finance their businesses and not for personal use.

How to qualify for a Moniepoint loan

To qualify for a Moniepoint working capital, you will need to:

  • Have a Moniepoint account that has made and received payments.
  • Get a Moniepoint card and make a transaction with it.
  • Have a working business in Nigeria.
  • Have a good credit score.
  • Have a means of identification.
  • Not be less than 18 years of age.

If you tick all these boxes, then you are welcome to apply for a Moniepoint business loan.

How to Apply For Moniepoint Loan

The Moniepoint loan offering is currently not available on their mobile app so you will need to use the web to access the page.

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To get started with an application for a Moniepoint loan,

  • Log in to your Moniepoint business account at or click on “Sign Up” on the page if you don’t have an account yet.
  • Tap on your business profile.
  • From the drop-down menu, tap on loan. If you don’t see the loan option, then you have yet to fulfill the first two criteria above for qualifying for a loan.
  • If you see the loan option, follow the on-screen prompts to complete a loan application.

How Much is Moniepoint Interest Rates?

The interest rates on Moniepoint loans depend mainly on how much you borrow, your credit score, and the repayment plan you choose. However, you can expect to pay an interest rate of up to 10 percent per annum

Frequently Asked Questions

What is the highest loan amount Moniepoint can offer me?

Moniepoint can offer up to 90 million naira to business owners, however, this does not mean you can get up to that amount. Your limit will depend on your credit score, so you can only be able to calculate your Moniepoint loan limit by applying for the loan.

Is Moniepoint a loan app?

Moniepoint is not just a loan app but a bank that offers loans to small and medium-sized business owners.

What is the other name for Moniepoint on the bank app?

There is no other name for Moniepoint on your bank app, Moniepoint is Moniepoint. If you need to send money to your Moniepoint account using any bank app, just search for the name and you will find it on your app.

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Who founded Moniepoint?

Moniepoint Inc. was founded in 2015 by Tosin Eniolorunda and Felix Ike. They were both working at Interswitch, a leading African fintech company when they met.

Can I use Moniepoint on my phone?

Sure, you can use the Moniepoint app on your phone to send and receive payments, buy airtime, pay bills, etc. However, you currently can not use the app to take a loan from them, but can only use your phone’s/computer’s browser.


To conclude, Moniepoint does offer loans to Nigerians but only for businesses. If you need loans for personal expenses, there are other duly licensed loan apps in Nigeria that can offer you instant cash.


Many loan apps change their interest rates and repayment terms over time. Always review the terms and conditions carefully before downloading any loan app. B4loan doesn't promote any loan app, we just help you make informed decisions.

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