Lucky Loan Review: Customer Care Number, App Apk Download

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Hello, Today we’ll talk about Lucky Loan Review: Customer Care Number, App Apk Download.

Getting quick access to credit in Nigeria can be challenging, especially for salaried individuals and MSMEs. Lucky Loan aims to provide fast, affordable loans to meet urgent financial needs. In this review, we’ll examine their services, interest rates, application process, customer support and more.

Overview of Lucky Loan

Lucky Loan is an online lending platform operated by Luckyway Micro Credit Company. They provide collateral-free loans from ₦1,000 to ₦500,000 to individual borrowers. Repayment term ranges from 7 days to 12 months.

Key features include:

  • Quick application process done fully online
  • Instant loan decision and disbursement in minutes
  • No collateral or guarantor required
  • Loans paid directly to your bank account
  • Repayment by cash, transfer, debit order or ATM
  • Penalty-free early repayment option

Types of Lucky Loans

Lucky Loan offers these credit products:

1. Payday Loan

Get an advance on your salary with repayment on payday. Maximum amount is 50% of your monthly income.

2. Emergency Loan

Quick funds for urgent needs like medical bills, car repairs etc. Loan term is 1-12 months.

3. Business Loan

Financial support for your business needs like inventory, equipment etc. Maximum amount is ₦500,000.

Interest Rates and Fees

Lucky Loan Review: Customer Care Number, App Apk Download

Lucky Loan charges 2.5% to 10% interest per month, based on your profile. Other fees include:

  • App download fee – ₦100 (first 10,000 customers only)
  • Management fee – 3% of loan amount
  • Late payment fee – ₦2,000 every 7 days

No prepayment or collateral fees. Interest rates up to 60% APR.

Lucky Loan Requirements

To qualify for a Lucky Loan, you need:

  • Minimum age of 18 years
  • Valid means of ID (national ID, voter’s card, driver’s license etc.)
  • Active bank account and BVN
  • Proof of income (payslips, bank statements etc.)
  • Valid phone number and residential address

How to Apply for a Lucky Loan

Follow these steps to apply online:

  1. Download the Lucky Loan app on your Android or iOS phone
  2. Register your profile with personal details
  3. Select desired loan product and amount
  4. Upload required documents like ID and payslips
  5. Submit your application for instant decision
  6. Disbursed loan amount directly to your bank if approved

The whole process takes just a few minutes. Ensure you provide accurate details to increase approval chances.

Loan Disbursement and Repayment

If approved, your loan amount will reflect in your bank account within minutes. Repayment is done through these channels:

  • Cash deposit at partner banks
  • Online transfer from your bank
  • Debit order on repayment date
  • ATM cash deposit

You can repay the full amount early with no penalties. Late payments attract a ₦2,000 fee every 7 days.

Pros of Lucky Loan

Benefits of getting a loan with Lucky Loan include:

  • Fast processing and disbursement – Get loan in minutes if approved
  • Online application – Apply from anywhere using the app
  • No collateral – Only basic eligibility requirements needed
  • No guarantor – Apply without getting third-party endorsement
  • Flexible repayments – Repay before deadline or in installments
  • No credit check – Approval based on income, not credit score

Cons of Lucky Loan

Downsides to consider include:

  • Very high-interest rates compared to banks
  • Maximum loan amount is small at ₦500,000
  • Additional fees like management and late fees
  • Missed payments affect profile and eligibility for future loans
  • Strict eligibility criteria, not everyone may qualify

Lucky Loan App Download and Login

To download the Lucky Loan APK, follow these steps:

  • Visit Google on your mobile device.
  • Search for “Lucky Loan” in the search bar.
  • Select the Lucky Loan app from the search results.
  • Visit the site
  • Tap the “Install” button to begin downloading the app to your phone.

Overall, the app provides an efficient way to manage your loan end-to-end. Simply login using your registered mobile number and OTP.

Lucky Loan Customer Care Contacts

Unfortunately, lucky loans haven’t unveiled their customer care number making it more difficult to get solutions to issues you may have regarding their products and services.

Yet, if you have any questions, concerns, or issues while using the Lucky Loan app, their customer care team is readily available to assist you. You can reach out to them via email at

They are dedicated to providing prompt and effective solutions to any queries or problems you may encounter during your loan application process.

Verdict on Lucky Loan

Lucky Loan makes it fast and convenient to access emergency funds online with minimal requirements. However, the high-interest rates, strict eligibility criteria, and low maximum loan amount limits its appeal compared to alternatives.

FAQs On Lucky Loan Review: Customer Care Number, App Apk Download

Lucky Loan Review: Customer Care Number, App Apk Download

What documents do I need to apply?

You need a valid ID, proof of income like payslips or bank statements, passport photo, and proof of residence.

How long does approval take?

Lucky Loan touts instant loan approval in minutes if you meet the eligibility criteria.

Can I apply without a guarantor?

Yes, Lucky Loan does not require a guarantor for approval unlike some other l

What is the maximum loan amount I can get?

Lucky Loan offers loans from ₦1,000 up to ₦500,000 based on your eligibility.

How quickly is the money disbursed?

If approved, the loan amount is disbursed to your bank account usually within a few minutes.

Can I pay my loan early?

Yes, Lucky Loan allows early repayment with no extra fees or charges.

What happens if I miss my repayment date?

A late payment fee of ₦2,000 is charged for every 7 days you are late. This can negatively impact your credit profile.

Is there a penalty for early repayment?

No, you can pay off your full loan amount before the deadline at no extra cost.

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Lucky Loan provides a quick and convenient way to access emergency funds online in Nigeria. The ability to apply and get approved completely digitally within minutes makes it appealing. However, borrowers should be cautious of the high interest rates and fees charged. While Lucky Loan can meet urgent short-term credit needs, consumers should compare interest rates and terms with other lending platforms and banks for the best deals based on their financial situation.

After reading this blog you know about Lucky Loan Review: Customer Care Number, App Apk Download.

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