Full Review: Is EasyLoan Legit Or Scam?

EasyLoan is an innovative platform that aims to fulfill people’s financial aspirations by providing accessible and affordable personal lending services. It is owned and operated by Atimi Lending Limited, a licensed credit provider incorporated by the Corporate Affairs Commission of Nigeria and authorized to lend money under a license granted by the Lagos State government.

Is EasyLoan Legit?

The legitimacy of the EasyLoan app raises some concerns as there are no clear indicators to confirm its authenticity. There is no record of EasyLoan being approved by the Central Bank of Nigeria (CBN), and it does not appear on the list of approved loan apps by the Federal Competition and Consumer Protection Commission (FCCPC). Furthermore, the EasyLoan application is not available on the Google Play Store, and it remains uncertain whether this absence is due to Google’s scrutiny or if the mobile app is still in the developmental stage.

Given these uncertainties, caution is advised when considering loans from EasyLoan, as its legitimacy cannot be definitively confirmed. Reports of fraudulent loan applications have emerged, with numerous customers complaining about the misuse of their personal information by lending entities. Some of these companies have resorted to physical and psychological harassment of customers who fail to meet loan repayment deadlines, which contravenes the guidelines set forth by the CBN.

Reviews of EasyLoan App on Google’s PlayStore

“This app is a scammer, they scammed me of ₦4,900. I was asked to pay ₦4,900 to get a ₦300,000 loan, which I would repay in six months. I paid the security fee of ₦4,900 into a Wema bank account with the account name Akimbo Technology Limited. It has been over a week, and nothing has happened. Please don’t fall victim. This app should be removed from the Play Store. 😡” – Awene Steve

“This app seems fraudulent. They claim they have approved the loan, but it doesn’t credit your bank. Instead, it asks you to repay money they haven’t credited!!!” – Irie Konoubi

“Pure scammer, please delete it and many more scammer apps. They’ll make people lose trust in your platform. One star for appearing on your platform.” – John Adedoyin

How To Verify A Legit Loan App

  1. Check for Reviews and Ratings: When evaluating the legitimacy of a loan app, your first step should be to delve into online reviews and app ratings. These resources provide valuable insights into the experiences of other borrowers. Positive reviews and high ratings are typically indicators of a legitimate and user-friendly app. However, it’s essential to approach this step with a degree of skepticism. While a multitude of positive reviews can be a good sign, excessively positive reviews that lack substance may be misleading. Pay attention to detailed reviews that highlight the app’s strengths and weaknesses, as they offer a more balanced perspective.
  2. Visit the Company’s Website and Social Media Pages: Authentic loan apps prioritize their online presence. They maintain well-designed and up-to-date websites that provide comprehensive information about their services, terms, and conditions. Additionally, legitimate loan apps actively manage their social media profiles, engaging with users and providing updates. Therefore, take the time to visit the company’s official website and explore their social media pages. An outdated website or inactive social media profiles should raise concerns. Reputable loan providers invest in their online presence to establish trust and transparency.
  3. Look for Accreditation and Licenses: Regulatory compliance is a hallmark of a legitimate loan app. Such apps obtain accreditation and licenses from the appropriate regulatory authorities. These certifications signify that the app operates within the bounds of the law and adheres to established industry standards. To verify a loan app’s legitimacy, check for evidence of accreditation and licenses on its website or within the app itself. A failure to provide this information or evasive responses to inquiries about regulatory compliance may be warning signs of a potentially fraudulent app.
  4. Verify Permissions: When you install a loan app on your device, it typically requests certain permissions to access specific functions or data. These permissions should align with the app’s intended functionality and purpose. To safeguard your privacy and data security, scrutinize the permissions requested by the app. Be cautious if the app seeks excessive or irrelevant permissions that are unrelated to its core services. For example, a loan app that asks for access to your contact list without a clear reason may raise red flags. Prioritize apps that are transparent about the reasons for requesting specific permissions and provide options to customize these settings.

In the realm of digital finance, transparency and legitimacy are paramount. When considering a loan app like EasyLoan, which operates in a space that demands trust and accountability, it’s essential to exercise caution. The absence of clear indicators of legitimacy, such as approvals from regulatory bodies like the Central Bank of Nigeria and inclusion in the list of approved loan apps by the Federal Competition and Consumer Protection Commission, raises concerns. Customer reviews and reports of fraudulent activities further emphasize the need for vigilance. Instances of borrowers experiencing difficulties in obtaining loans, coupled with questionable repayment demands, undermine the confidence users should have in such platforms.

To protect oneself from potentially unscrupulous lending entities, it’s crucial to follow due diligence when considering a loan app. Checking for reviews, verifying licenses and accreditations, and scrutinizing app permissions are key steps in ensuring the legitimacy and reliability of any financial service provider. In the case of EasyLoan, until there is concrete evidence of its legitimacy and regulatory compliance, users are advised to tread cautiously and explore alternative financial platforms with established reputations for trustworthiness and transparency. Remember that in the digital financial landscape, a healthy dose of skepticism can go a long way in safeguarding your financial well-being.