Lairaplus Loan App: How to Apply, Requirements and Interest Rate

lairaplus loan app download

Have you ever found yourself in a situation where you needed money urgently but had no access to funds at that time? Well, I have found myself in such a desperate situation, and I was able to sort myself out. Want to know how? Yes, with the help of an online lending platform called Laira Plus.

A friend introduced this amazing loan app to me, and since then, I’ve had no regret in borrowing money from the lending platform. In this blog post, I will tell you everything you need to know about Laira Plus, how to get a quick loan, and the requirements for applying for a loan on Laira plus loan app.

About Laira Plus Loan App

LairaPlus Loan app is a digital lending platform that provides quick loans to individuals in Nigeria. The platform is designed to offer quick and easy access to credit without the need for collateral or extensive paperwork.

LairaPlus offers different loan products, such as personal, business, and educational loans. To apply for a loan, customers must create an account on the platform, complete the loan application form, and provide the necessary documentation.

The platform uses advanced algorithms to analyze loan applications and determine the creditworthiness of borrowers. Once a loan is approved, the funds are disbursed to the borrower’s bank account within minutes.

However, it’s important to note that while Laira Plus may be a legitimate lending platform in Nigeria, borrowers should exercise caution and do their due diligence before taking out a loan with any lender. It’s also advisable to carefully read and understand the terms and conditions of any loan agreement before signing up for it.

What Does LairaPlus Loan App Offer?

LairaPlus offers the following:

The amount you can borrow ranges from N5,000 to N300,000:

The LairaPlus app lets you borrow anywhere from N5,000 to 300,000. Since this is a platform for personal loans, you can only borrow a little money. At the moment, the platform can only lend up to 300,000.

Service that is quick and secure

Laira gives its borrowers fast and secure service as one of the things it has to offer. The loan platform keeps your information and privacy as safe as possible.

Repayment Period of 91 to 365 days

You can choose your loan repayment period from 91 days to 365 days, although each repayment period has its own interest rates and fees.

No collateral is required

The LairaPlus Loan app lets people get loans without putting up any collateral. To get a loan on this platform, you only need to give information about yourself and grant permission over your device, and you must be at least 18 years old.

Where and How to Download LairaPlus Loan App

You can download LairaPlus Loan app from Google Playstore. LairaPlus Loan app is only available on Google Playstore, hence is you are an iPhone user, you won’t find it on Apple store. To download LairaPlus Loan app, please follow these three steps:

  • Open Google Playstore on your Android device.
  • Search for LairaPlus instant loan and click on install. Wait for it to download.
  • After downloading and installing the app,launch it and sign up using your phone number. I have provided the steps in signing up for LairaPlus Loan in the next paragraph.

How to Sign Up for LairaPlus Loan

Signing Up to receive a loan on the Laira Plus app is easy. By following these steps, you will get it done within minutes:

  • Go to Google Playstore, search for and download LairaPlus – online loan.
  • After successfully downloading and installing the app, Sign up using your active phone number and a verification code will be sent to you, you will be asked to provide a one time password which you will use to login each time you launch the app.
  • Create and complete your profile to enable you to apply for a loan.
  • Request a loan and have money disbursed to your bank account.

How to Apply for LairaPlus Loan

To apply for a LairaPlus loan, follow these steps:

  • Launch the LairaPlus app.
  • Sign up with your phone number. Preferably the phone number linked to your BVN as a one-time password will be sent to it for verification.
  • Fill in your basic Know-your-customer KYC details, including your death of birth, residential address, next of kin, and employment details.
  • You will also be required to provide your BVN, which will be used to access your credit score.
  • You’ll be asked to bind your ATM card to your account to increase your chances and get a higher loan amount. You will be charged a refundable amount of N30 when binding your ATM card.
  • A one-time password OTP will be sent to your phone to confirm your details.
  • After submitting your loan application, the software will analyze your credit score, and the final result will be shown in the app.
  • The result should be displayed in less than two minutes, and if you qualify for a loan, the loan amount will be disbursed into the bank account directly.
  • Make sure you’re using a good phone with enough memory space, as you must take a clear live selfie for identity.

Note: having your debit card connected to N30 does not ensure you will be approved for a loan; you must still pass a credit check.

If you have any outstanding loans or have yet to pay your previous lenders when they were due, your application will likely be denied because of the negative impact on your BVN and credit score.

The information that makes up your credit history includes loans you collected, when you paid them back, and how much money has come and gone from your bank accounts.

By downloading the app, you agree to allow it access to your phone’s contacts (who will act as guarantors), text messages (which will show your banking transaction history), apps (which will show how you use other loan apps), and other information that will be used to determine your creditworthiness.

You can only reapply for a new loan once your loan is declined. Hence, you must be careful when filling out your application form and only have outstanding loans from other lenders.

Eligibility Criteria for Applying for LairaPlus Loan

  • You must be between 18 years and above.
  • You must have a personal bank account which must be among the list of banks on the app.
  • You must be a Nigerian resident.
  • Your phone number must be the one connected to your BVN.
  • Please provide details of two of your next of kin, including their phone numbers.
  • Have a good credit score with no outstanding loans from other lenders.

LairaPlus Interest Rates

LairaPlus interest rates range from 16% to 36%, depending on the repayment period.

I have provided an example of how the loan interest rate is calculated below:

If the loan amount is N5,000, the loan term is 91 days, and the interest rate is 16%. Total interest should be N5,000*16%= N800. The total repayment amount will be N5,000+ N5,000*16%= N5800.

LairaPlus Customer Care Information

For inquiries or complaints, you can reach out to the LairaPlus customer support team through the following:


WhatsApp: +234 8119402317.

Company address: 87 Nosamu St, Ajengule 102103, Lagos.

Frequently Asked Questions

Is LairaPlus a Legit Loan App?

Yes. The more than 700 views and 4.0 rating on Google Play Store make LairaPlus a legit and reliable loan app.

How much can I borrow using the LairaPlus Loan app?

You can borrow money up to N300,000 on the LairaPlus Loan app.

How quickly can I get approved for a loan through the LairaPlus Loan app?

LairaPlus loans are approved within minutes.

What are the interest rates and repayment terms offered by the LairaPlus Loan app?

Interest rates range from 16% to 36%.

Bottom Line

The LairaPlus Loan app is a convenient and user-friendly platform for individuals needing quick loans. With easy access through a mobile device, borrowers can apply for loans, receive approval, and get the funds they need in minutes.

The app also offers flexible repayment terms and competitive interest rates, making it a viable option for those looking for short-term financial assistance. However, it’s important to note that borrowers should carefully review the terms and conditions of the loans before accepting them to avoid any potential pitfalls.

Overall, the LairaPlus Loan app provides a fast and reliable solution for individuals looking to cover unexpected expenses or bridge a financial gap.

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