FoundOne Loan App Review | Is FoundOne App Legit or Scam?
Sometimes, People just need some cash to get by. And for many entrepreneurs and freelancers, that cash comes from taking out one of these online loans without collateral without needing a credit check or collateral. But the downside is that these loans aren’t any safer than an online loan from a payday lending company, they charge high interest and they can result in a debt trap that is difficult to escape.
To help consumers, a startup called FoundOne set up an app that helps people understand their eligibility and loan money in Nigeria without collateral. Excited to know how this app work, kindly read this FoundOne App Review.
In today’s article, we’ll give answers to all questions about FoundOne, which includes: FoundOne Loan App review, how does FoundOne Loan App work, how to earn money on FoundOne Loan App, FoundOne Loan App Login, FoundOne Loan App sign up, FoundOne Loan App Referral, FoundOne Loan App contact, is FoundOne Loan App legit or scam, and more.
By the end of this article our team, Tunnelgist.com is sure you must have arrived at a solid decision on if FoundOne App legit, safe or scam, or maybe fake, as we assure every piece of information provided is authentic.
Without wasting more time, let’s get started with FoundOne App review.
FoundOne Loan App Review
In this FoundOne Loan App review, we’ll touch on various aspects of FoundOne Loan App, which would help you know if this new make-money website can be trusted or fraudulent.
Also please note: This FoundOne App review doesn’t verify it all, so in the nearest future things might change and if anything goes wrong we won’t be held responsible for any reason.
About FoundOne Loan App
FoundOne App is one of the online loans in Nigeria without collateral, It’s convenient, fast and easy to loan from.
- FoundOne Website URL availability to Google: Yes FoundOne Loan App is on Google, which makes it easier for new visitors to discover on search engines.
- FoundOne Website Security: Yes FoundOne Loan App is a secured and save to use on Playstore.
- FoundOne Loan App Performance & Design: The FoundOne App design is good, performance is great as well.
- FoundOne Loan App Contact Us and About Us Pages: Yes, FoundOne Loan App has Contact Us and About Us pages.
- FoundOne Loan App Social Media Accounts: These are FoundOne Loan App social media accounts: FoundOne Loan App Facebook: None, FoundOne Loan App Twitter: None, FoundOne Loan App Instagram: None.
Which Country is Eligible to Borrow/Loan Money from FoundOne App
Only if you live in Nigeria gives you the access to loan from the FoundOne App. Other countries, is not supported for now.
Who is the Owner of FoundOne Loan App
The owner of foundone app is yet to be known for now!
How to Download FoundOne Loan App
For starters, if you have installed Google Play store on your phone, simply search FoundOne App on Play store, then install.
How does FoundOne Loan App Work | How to Borrow Money from FoundOne Loan App
To get loan from FoundOne App you must Nigeria Citizen be above 18 years old, have Valid Document and proofs and lastly must have an active bank accounts.
Also, to loan from FoundOne App just follow these easy steps down below.
1. Create your account.
2. Apply in seconds.
3. Receive your loan straight into your bank account.
4. Increase your loan limit every time you repay a loan.
Also, know that the minimum to maximum Loan amount is from ₦3,000 – ₦50,000, and the shortest loan term is 91 days, the longest is 365 days.
FoundOne Loan App Sign Up | How to create an account on FoundOne Loan App
Follow the steps above to learn how to create an account on FoundOne Loan App.
FoundOne Loan Interest Rate
The Daily interest rate: 0.0057, and the maximum annual interest rate APR: 20.55%.
According to FoundOne App, Calculating the number is very easy. For example, if you choose a 12-month 10,000 loan principal, the details would be shown down below:
- Installment plan: 12.
- Principal: 10,000.
- Amount of expenditure: ₦99,63.002. Amount of expenditure = principal – GST – expenses ₦10,000 – ₦369.98 – 0 = ₦99,630.02.
- PMT (monthly payment amount): ₦1004.6. PMT = ₦10000 x (1 + 20. 55%)/ 12 = ₦1004.6.
- Total interest: ₦2055.
- Total amount: ₦12055. Total amount = principal + Total interest = ₦12055.
- Total interest rate: 20.55%. Total interest rate = total interest / principal * 100% =, ₦12,055 / ₦10,000 * 100% = 20.55%.
- Monthly interest: 1.71%. Monthly interest = total interest rate / installment = 20.55% / 12 = 1.71%.
FoundOne Loan App Referral | How to Refer and earn on FoundOne Loan App
Unfortunately, FoundOne doesn’t offer affiliate program at this point of time.
FoundOne App Customer Service
Incase things goes sideways, you can contact FoundOne via these means:
- E-mail: email@example.com
- Mobile: +234 09120180506.
Is FoundOne App Legit or Scam?
FoundOne App is legitimate and you’ll surely get your loans using foundone platform. Also, with the 4.6 ratings and 4k reviews on Playstore, I don’t think the foundone is bad, instead let’s say it’s awesome.
Thanks so much for reading this article till the end, that’s all for the FoundOne Loan App review, if there is more you want to add to this review, feel free to comment down below.