Is Arich Loan App Legit Or Scam? Reviews, Interest Rate, Customer Care Number

If you need money quickly, you might think about getting a loan through the Arich Loan app. But before you do, it’s important to know if the platform is real and what kind of interest rates you can expect. In this piece, we’ll talk about whether or not the Arich Loan app is a scam and what you need to know about the interest rates it offers.

Let’s start with the most important things. The Arich Loan app is a mobile app that lets people quickly and easily apply for loans. It says it has low interest rates and open payment plans, which make it a good choice for people who need cash quickly.

After doing a lot of study, we can confirm that the Arich Loan app is a real way to borrow money. It is listed with Nigeria’s Corporate Affairs Commission (CAC) and runs in accordance with all laws and rules.

But it’s important to remember that users have had different things to say about the Arich Loan app. Some users have said the app worked well for them, but others have said the interest rates were too high and there were hidden fees. Also, some users have said they have trouble getting in touch with customer service, which can be frustrating when trying to solve problems.

The Arich Loan app charges interest rates that range from 5% to 15% per month, based on how much you borrow and how long you have to pay it back. Even though these rates may be lower than what some other platforms charge, they can still add up quickly if you can’t pay back the loan on time.

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When it comes to customer service, the Arich Loan app gives people several ways to reach out. These include a phone number, an email address, and a chat feature right inside the app. On the app’s website and in the app itself, users can also find solutions to questions that are often asked.

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So, is the Arich Loan app a scam or not? The Google Play Store says that the app has been downloaded more than 100,000 times, which shows that it has a large number of users. Also, many users have given it good reviews, praising how easy it is to sign up and how helpful the customer service is.

But it’s important to remember that not every review of the app is good. Some customers have complained about high interest rates, secret fees, and trouble getting in touch with the customer service team.

ARICH LOAN INTEREST RATE

Monthly interest rates that range from 1% to 30% (Annual Percentage Rates (APR) from between 30% to 260%).

To give an example of how this will be calculated if you borrow NGN100,000 over 3 months.

The Interest (total cost of the loan) will be NGN30,000 (30% rate).

The loan will be repaid in three monthly installments of NGN 43,333.

This makes the total amount payable equal to NGN130,000. That is representative of a 120% APR.

HOW MUCH CAN I BORROW FROM ARICH LOAN APP

You can borrow between 6000 naira and 5 million naira.

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REQUIREMENTS TO GET A LOAN FROM ARICH LOAN APP

To get a loan from Arich app:

You must reside in Nigeria
You must have a BVN
You must have a source of income
You must be between 22 to 55 years

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HOW TO APPLY FOR LOAN ON ARICH LOAN APP

To borrow money from Arich app:

Download Arich loan app
Register with your correct details
Request for a loan
Get the loan.

HOW LONG DOES IT TAKE ARICH LOAN APP TO GIVE A LOAN

It takes few minutes to hours depending on the amount.

HOW TO REPAY ARICH LOAN

Simply login to the Arich app, go to the repayment option, choose a repayment method you are okay with to repay the loan.

ARICH LOAN CUSTOMER CARE

To contact Arich customer service visit the contact us option on the loan app.

Conclusion

Even though the Arich Loan app is a legal way to borrow money, you should be careful when using it. Before you agree to a loan, read and understand the terms and conditions carefully to make sure you know about all fees and fines.

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Also, be aware that the app may charge high interest rates and make sure you are okay with the terms of the loan before you accept it. If you have problems or questions, you can try getting in touch with the Arich Loan app’s customer service team through the app or website.