Moniepoint Review
VerifiedCBN LicensedBusiness loans for POS agents and merchants
₦10,000 - ₦5,000,000
Loan Amount
3-10%
Monthly Interest
7-90 days
Repayment Term
24 hours
Approval Time
Pros & Cons
Pros
- ✓High loan limits for merchants
- ✓Lower interest than personal loan apps
- ✓Loan based on business performance
- ✓Repayment from daily POS sales
- ✓No collateral required
- ✓Quick approval for existing merchants
Cons
- ✗Must be Moniepoint POS merchant
- ✗Not for personal/consumer loans
- ✗Automatic deductions from sales
- ✗New merchants have lower limits
How to Apply for Moniepoint Loan
- 1
Get a Moniepoint POS terminal
- 2
Process transactions for at least 3 months
- 3
Open the Moniepoint app
- 4
Navigate to Business Loans section
- 5
View your pre-approved loan offer
- 6
Accept terms and receive funds
User Reviews
Chinedu K.Verified
Lagos
January 2025
Got ₦500,000 for my POS business expansion. Interest is very reasonable and they deduct from my daily sales. Very convenient.
Amaka N.Verified
Onitsha
December 2024
Good for business owners. Started with ₦50,000 and now qualify for ₦2 million. They reward consistent business.
Ibrahim A.Verified
Kano
November 2024
Best option for POS agents. Much better rates than personal loan apps.
Frequently Asked Questions
Can I get Moniepoint loan without POS?
No, Moniepoint loans are specifically for their POS merchants. You need an active terminal with transaction history.
How is Moniepoint loan repaid?
Repayments are automatically deducted as a percentage of your daily POS transactions until the loan is cleared.
What is the maximum Moniepoint loan?
Loan limits vary based on your transaction volume. High-volume merchants can access up to ₦5 million.
Quick Info
- Founded
- 2019
- Headquarters
- Lagos, Nigeria
- CBN Licensed
- Yes
- Disbursement
- Same day
- Last Updated
- 2025-01-19
Requirements
- •Active Moniepoint POS terminal
- •Minimum 3 months transaction history
- •Valid BVN
- •Business registration (CAC) preferred
- •Consistent daily transactions