Moniepoint review

Updated September 28, 2026 · BorrowCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Moniepoint lends from Moniepoint Microfinance Bank Limited, so working capital comes straight from the bank rather than a broker. It suits Nigerian businesses already running a Moniepoint account with steady turnover, and personal borrowers in a hurry, at interest of 24% to 40%.

Key facts

Best for
Nigerian businesses and account holders needing short working capital finance without leaving the Moniepoint app.
APR
24% to 40% (Source, checked September 26, 2026)
Loan amount
from NGN 1,000,000 (Source, checked September 26, 2026)
Term
3 to 6 months (Source, checked September 26, 2026)
Arrangement fee
Management fees only, amount not published (Source, checked September 26, 2026)
Funding time
1-2 business days after approval (Source, checked September 26, 2026)
Lender type
Direct lender (Source, checked September 26, 2026)
Free early repayment
Yes (Source, checked September 26, 2026)
Eligibility
Active Moniepoint business account held for at least six weeks with consistent use for business transactions (Source, checked September 26, 2026)
Loan types
Business, Personal, Credit-line (Source, checked September 26, 2026)
Legal entity
Moniepoint Microfinance Bank Limited (Source, checked September 26, 2026)
Headquarters
Nigeria (Source, checked September 26, 2026)
Founded
2019 (Source, checked September 26, 2026)
Support channels
Email, Phone, Help-centre (Source, checked September 26, 2026)
Official website
moniepoint.com

Apps and profiles

Get the app
App StoreGoogle PlayGoogle Play
Elsewhere
WikidataLinkedInX

Pros and cons

Pros

  • Business loans are a direct product from Moniepoint Microfinance Bank Limited, not a broker arrangement
  • Free early repayment is available, so you can clear a balance sooner without a charge
  • Funding arrives 1-2 business days after approval, quicker than many business lenders take
  • Business, personal and credit line borrowing sit under one account

Cons

  • Interest of 24% to 40% is well above the site median of 12%
  • Management fees of Management fees only, amount not published leave the real cost of a loan unclear before you apply
  • Eligibility needs an active business account held for a minimum period with consistent transaction use
Moniepoint

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Scored 8.8 / 10 by BorrowCue.

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Who it suits

  • Nigerian trading businesses with a live Moniepoint account and steady turnover
  • Personal borrowers already banking with Moniepoint who want one app for credit
  • Traders who want to repay early and cut the interest bill

Who should look elsewhere

  • Borrowers wanting a long fixed loan, since terms run 3 to 6 only
  • Anyone without an existing Moniepoint account history
  • Lenders' customers who need published fee figures before committing

Safety and regulation

Moniepoint is a direct lender, direct lender, and the loan is issued by Moniepoint Microfinance Bank Limited under the Central Bank of Nigeria in Nigeria. That means the credit comes from a named bank rather than an intermediary, though the terms are short: 3 to 6 and interest of 24% to 40%. The Central Bank of Nigeria is the regulator to raise a concern with if servicing goes wrong.

Who runs it

The lending entity is Moniepoint Microfinance Bank Limited, headquartered in Nigeria and founded in 2019. Because the loans sit inside an existing payments business, the practical route to borrow is an account you already hold rather than a separate application. Assistance runs through email, phone and help centre, so a missing payment or a stuck drawdown can be chased by phone, email or the help centre.

How Moniepoint compares

Where Moniepoint is available

Available
Kenya, Nigeria
Licence in Nigeria
Central Bank of Nigeria, checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What interest does Moniepoint charge on its loans?+

Interest runs at 24% to 40% on Moniepoint loans, and Management fees only, amount not published applies on top. For a sense of scale, the median interest across the site is 12%, so the rate here sits well above a typical personal loan figure.

How much can I borrow from Moniepoint?+

Business borrowing starts at from NGN 1,000,000 and is offered as a working capital facility. Moniepoint also lends for personal use and as a credit line, so the same account can cover both business and household borrowing.

How long do I have to repay a Moniepoint loan?+

Terms run 3 to 6, which is short compared with the site median of 36 months across lenders. Free early repayment is available, so settling early cuts the interest rather than adding a charge.

How fast does Moniepoint release money?+

Funding takes 1-2 business days after approval. Many lenders list same day funding as a feature, and it appears on 82.9% of the site listings, so set your expectations around a short wait after approval.

Do I need a Moniepoint account to get a loan?+

Eligibility rests on holding an active Moniepoint business account for a minimum period with consistent use for business transactions. The loan is therefore tied to your account history rather than a standalone application.

Is Moniepoint regulated?+

Yes. Lending runs through Moniepoint Microfinance Bank Limited, a direct lender at direct lender, and the Central Bank of Nigeria is the regulator for Nigeria. The legal entity and country are both set out on the company's own pages.

How do I get help with a Moniepoint loan?+

Support is available through email, phone and help centre. Phone support is common across the market, appearing on 85% of listings, so a call is often the quickest route for a payment or drawdown query.

What kinds of loan does Moniepoint offer?+

Moniepoint covers business lending, personal loans and a credit line. Business loans dominate the market, with 100% appearing across business lending listings, while credit lines are a smaller category at 27.4%.

Sources

  • moniepoint.com checked September 26, 2026

    Backs: Headquarters

    “Nigeria: The Post Square, Off Adeola Odeku, Victoria Island, Lagos, Nigeria”

  • moniepoint.com/about checked September 26, 2026

    Backs: Founded

    “In 2019, Moniepoint set out to even the odds by providing businesses and individuals with access to banking, payments, credit and business management tools to help them grow.”

  • moniepoint.com/ng/business/working-capital-loans checked September 26, 2026

    Backs: Loan amount, APR, Funding time, Legal entity, Lender type, Support channels, Licences

    “Working Capital Loan: Get a minimum of N1,000,000 and more without collateral”

  • support.moniepoint.com/topics/business-loans-225 checked September 26, 2026

    Backs: Eligibility, Free early repayment, Loan types, Arrangement fee, Term

    “Business owners who have had an active Moniepoint business account for at least six weeks and use their business account consistently for all their business transactions, are eligible to apply for a...”

Compiled from 4 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Credit check, Representative example.

Moniepoint

Moniepoint

Nigerian businesses and account holders needing short working capital finance without leaving the Moniepoint app.

8.8/10See alternatives

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