Hello Today we’ll talk about P2vest Loan: interest rate, app download, customer care number.
Access to quick, short-term loans has become easier in recent times with the rise of fintech lending companies. One such platform that has been gaining popularity in Nigeria is P2vest.
P2vest offers digital loans ranging from ₦1,000 to ₦500,000 to salaried individuals and MSMEs. In this comprehensive guide, we will provide details on P2vest loans, interest rates, repayment, eligibility criteria and answer some frequently asked questions on their lending process.
What is P2vest?
P2vest is an online lending platform that provides short-term loans up to ₦500,000 to working professionals and small businesses in Nigeria. The company leverages technology and analytics to offer customized credit based on users’ financial capability and repayment history.
Launched in 2017, P2vest operates as a subsidiary of Carbon and is now an emerging digital lender in Nigeria. The company claims to maintain high underwriting standards for responsible lending.
P2vest Loan Features
Some key features of P2vest loans include:
- Fully digital application process via website or mobile app.
- Loan amounts from ₦1,000 to ₦500,000.
- Loan tenures from 1 week to 12 months.
- Instant disbursement into bank account, wallet or airtime.
- No paperwork, guarantors, or collateral required.
- Repayment via debit instructions, transfer, cash.
- Top-up available for existing customers.
How Does P2vest Lending Work?
Here is an overview of how the loan process works at P2vest:
- Registration – Visit P2vest website or app to create an account.
- KYC – Complete your profile by providing personal, employment details.
- Eligibility – Based on your data, P2vest will confirm your eligibility for a loan.
- Offer – Eligible users will get a loan offer specifying amount, tenure, interest rate, etc.
- Acceptance – Review and accept the offer if you wish to proceed.
- Disbursement – Loan amount will be instantly disbursed to your account.
- Repayment – Make repayments as per the agreed schedule via preferred mode.
Interest Rates and Fees
P2vest charges interest rates starting from 13% per annum for loans. Additional fees include:
- Management fee – 2% flat on loan amount.
- Late repayment fees – 5% penalty of amount due.
- Rescheduling fee for tenure adjustment – 2% of principal.
No pre-payment penalties apply. Your final pricing will depend on amount, repayment period and credit history.
Eligibility and Documents
To be eligible for a P2vest loan you must:
- Be between 21 to 60 years old.
- Have a personal bank account and valid ID.
- Be employed, self-employed or have a registered business.
- Provide phone number, residential address.
Documents required during signup are passport photo, valid ID card, employment/business details, and bank statements.
How to Apply for P2vest Loan
Follow these steps to apply for and get a quick P2vest loan:
- Download the P2vest app on your Android or iOS phone.
- Register by providing your personal, employment/business details.
- Complete your KYC by uploading required documents.
- Provide income, bank statement, existing loans/liability details.
- Select desired loan amount and repayment tenor.
- Review the loan offer and accept after understanding all details.
- Disbursed loan amount will reflect in your bank account instantly.
The entire process is online and can be completed in minutes. Existing users can get loan top-ups quickly.
Pros of P2vest Loans
- Fast approval – Get loan decision in minutes after submitting application.
- Instant disbursement – Get loan amount credited real-time after approval.
- No paperwork – 100% digital process without physical documents or signatures.
- No collateral – No need for guarantors or asset pledging.
- Lower rates – P2vest offers competitive interest rates vs other lenders.
Cons of P2vest Loans
- Strict eligibility – Approval chances are lower for new customers.
- Limitations – Maximum loan amount offered is ₦500,000.
- High management fee – 2% flat fee on the loan amount.
- Penalty charges – 5% late fee applicable on overdue amounts.
- Credit impact – Defaulting can negatively impact your credit profile.
Alternatives to P2vest
Some top alternative instant loan apps in Nigeria include:
- Branch – Offers loans from ₦500 to ₦500,000.
- FairMoney – Provides loans up to ₦500,000 with flexible tenors.
- RenMoney – Instant loans between ₦3,000 to ₦150,000.
- PalmCredit – Digital loans from ₦1,000 to ₦100,000.
- L Credit – Salary advance loans up to 50% of monthly income.
Repayment Options
P2vest offers flexible repayment options including:
- Direct Debit – P2vest deducts installments from your bank account.
- Cash – Visit an agent location to repay with cash.
- Transfer – Make payment transfers to P2vest using your bank app or USSD.
You can choose a suitable option during loan application. Repaying timely helps maintain a good credit score.
How to Improve Your P2vest Loan Eligibility
You can potentially increase loan eligibility and amount at P2vest by:
- Maintaining a consistent income source and bank account.
- Building a good credit history by timely repayments.
- Providing complete documentation and accurate data.
- Having long-term employment/business history.
- Minimizing applications from multiple platforms.
P2vest Customer Care Contacts
You can reach P2vest customer support through:
- Email – support@p2Vest.com
- Phone – +234 702 500 3549
- Social Media – @P2vest on Facebook, Twitter, Instagram
- In-app live chat support.
FAQs On P2vest Loan: interest rate, app download, customer care number
What is the loan processing time at P2vest?
P2vest claims to process loans within 10 minutes. Actual time varies per case, but disbursal generally happens on the same day.
Can self-employed people get P2vest loans?
Yes, self-employed individuals and business owners can get P2vest loans by providing business documents and meeting eligibility criteria.
Does P2vest call employers for verification?
P2vest may call employers and business partners in some cases for employment/business verification before approving loans.
How can I pay back my P2vest loan early?
You can pay back your full P2vest loan amount before maturity. Just inform customer care, make the payment and no prepayment penalties will apply.
Can I get more than one loan from P2vest?
Yes, you can have multiple loans from P2vest concurrently by submitting separate applications. Total amount will depend on your eligibility.
What is the maximum loan amount at P2vest?
P2vest offers loan amounts from ₦1,000 to ₦500,000 based on customer eligibility and income level. First-time borrowers can get up to ₦50,000.L
How quickly does P2vest disburse loans?
P2vest claims to disburse approved loans instantly. Users typically get the money in their account within minutes after loan approval.
What repayment options are available at P2vest?
P2vest offers flexibility in repayment including bank
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Conclusion
P2vest is a digital lending platform that offers quick, collateral-free loans for professionals and businesses in Nigeria. Their application process is 100% online, with funds disbursed instantly on approval. While interest rates and fees are on the higher side, P2vest provides a convenient way to access short-term credit.
With robust data security, transparent terms and responsive customer service, P2vest is considered a safe and legitimate option. Do evaluate loan costs, repayment ability and alternatives before applying. Used wisely, P2vest loans can help bridge cash flow gaps and meet urgent financing needs.
After reading this blog you know about P2vest Loan: interest rate, app download, customer care number.
