Online loan apps have become a popular way to access quick cash in Nigeria. Many people no longer want to go through the stress of bank queues and paperwork. Instead, they prefer digital lending platforms that send money straight to their bank accounts. Pivot Loan is one such app. It promises fast approval, low requirements, and a fully online process.
In this review, we will explain how Pivot Loan works, the loan amounts you can get, interest rates, repayment examples, eligibility requirements, and how to apply.
What is Pivot Loan?
Pivot Loan is a mobile lending application operated under a Nigerian FCCPC financial license. This means it is registered to provide lending services in line with local regulations.
The app is designed for Nigerians who need quick financial help for emergencies, bills, school fees, or small business needs. According to the company, it uses advanced technology like big data analysis and artificial intelligence to approve loans faster.
Once you provide your details and meet the requirements, you can receive the loan directly in your bank account without visiting any office.
Why Choose Pivot Loan?
Pivot Loan offers several advantages for borrowers:
- Convenient Application – You can apply from your phone at home without visiting a branch.
- Fast Approval – The app uses AI to check your credit history and approve eligible loans quickly.
- Low Requirements – You only need basic details to apply, unlike traditional banks that may ask for collateral or a guarantor.
- No Service Fees – There are no extra charges apart from the interest on the loan.
Loan Amount and Duration
The app allows you to borrow between ₦10,000 and ₦500,000. The repayment period can be from 91 days to 180 days, depending on what you choose or what the app offers.
The annual interest rate can be up to 24%. This is equivalent to a daily interest rate of 0.0658%. The exact interest rate you get may depend on your creditworthiness and repayment history.
Example of Loan Repayment
Here’s how the app calculates repayment:
If you borrow ₦500,000 for 180 days at a 24% annual interest rate:
- Principal: ₦500,000
- Interest: ₦500,000 × 0.0658% × 180 days = ₦59,220
- Total Repayment: ₦559,220
This total includes both the principal and interest. If you repay earlier, you may pay less interest since it is charged daily.
Who Can Apply?
To qualify for a Pivot Loan, you must:
- Be a Nigerian citizen aged 20 years or older.
- Have an active bank account in your name.
- Maintain a good credit record.
The app may also check your phone number, BVN, and income details before approving your request.
How to Download and Apply
The application process for Pivot Loan is fully online and can be completed in minutes:
- Download the App – Go to the Google Play Store and search for “Pivot Loan.” Install it on your Android phone.
- Create an Account – Register with your phone number and set up your profile.
- Fill in Your Details – Provide personal information such as your full name, BVN, bank details, and employment status.
- Submit Your Loan Request – Choose the loan amount and repayment period, then submit for review.
- Receive Your Funds – If approved, the loan is sent directly to your bank account.
Is Pivot Loan Safe?
Pivot Loan states that it protects user data and follows Nigerian lending regulations. Your personal and financial details are stored securely and are not shared without your consent.
However, as with all loan apps, it’s important to borrow responsibly. Read the terms and conditions carefully, understand the repayment schedule, and avoid taking loans you cannot repay on time.
Customer Support
If you need assistance, you can reach Pivot Loan through the following channels:
- Phone: +234 08171911979
- Email: support@krestonfinance.online
- Address: Express Building, 7 Jobi Felle Road, Ikeja, Lagos State, Nigeria
- Privacy Policy: https://www.pivotloan.store/privacy-policy.html
Final Thoughts
Pivot Loan is a useful option for Nigerians looking for quick, short-term loans. It has a flexible loan range of ₦10,000 to ₦500,000 and offers repayment terms of up to 180 days. The approval process is fast, and there are no extra service fees apart from interest.
Its simple requirements make it accessible for many people who may not qualify for traditional bank loans. However, interest rates can add up if you delay payment, so it’s best to borrow only what you can repay comfortably.
If you need emergency cash and meet the basic requirements, Pivot Loan can be a convenient and fast solution.
