Rocket Loan Plus is a loan app that gives you quick access to money online. It is made for people living in Nigeria who need fast personal or payday loans.
You don’t need any paperwork or collateral. The whole process happens on your phone, from registration to receiving the loan.
In this post, we’ll look at how the app works, who can apply, the interest rates, and how to use the app. If you’ve been thinking about taking a loan online, this review will help you decide if Rocket Loan Plus is right for you.
What is Rocket Loan Plus?
Rocket Loan Plus is a mobile loan app. It helps you borrow money directly to your bank account. The app gives personal loans and payday loans. You can apply for any amount between ₦5,000 and ₦300,000.
The application process is simple. You can apply from home using your phone. You don’t need to visit any office or fill in long forms.
Loan Amount and Duration
The lowest loan you can apply for is ₦5,000. The highest is ₦300,000. You can pick a loan term between 91 days and 365 days. That means you can choose to repay in 3 months or up to one year.
The daily interest rate starts from 0.0410% and can go up to 0.0685%. The total interest you pay depends on how much you borrow and how long it takes to repay.
There are no hidden charges. The app does not charge any extra fees apart from interest. That makes it easier to know how much you will repay.
Interest Rate Examples
Let’s say you take a loan of ₦7,000 for 90 days. The daily interest rate is 0.0410%. At the end of 90 days, your total repayment will be:
- ₦7,000 (loan amount)
- ₦258 (interest for 90 days)
- Total = ₦7,258
Now let’s say you borrow ₦80,000 for 180 days. If your daily interest rate is 0.0685%, you will pay:
- ₦80,000 (loan amount)
- ₦9,864 (interest for 180 days)
- Total = ₦89,864
As you can see, the longer the time and the higher the amount, the more interest you pay. But since the interest is charged daily, you can repay early to reduce costs.
Who Can Apply?
To use Rocket Loan Plus, you must:
- Be a Nigerian resident
- Be between 20 and 65 years old
- Have a valid ID card
If you meet these conditions, you can apply anytime using your phone.
How to Download and Apply
To get started, go to the Google Play Store on your Android phone. Search for “Rocket Loan Plus.” Tap on install to download the app.
After that, follow these steps:
- Open the app
- Register with your phone number
- Fill in your personal and work details
- Submit your loan request
If you qualify, the money will be sent to your bank account. You’ll also get a notification in the app.
The app checks your credit history and other details before giving approval. If you repay your loan on time, your credit limit may increase in the future.
Is Rocket Loan Plus Safe?
Yes, the app is legit as it has been bennefitial to a lot of Nigerians. You can find rocket Loan Plus app on the play store for easy and safe download.
The company says it uses strong data protection methods. Your personal details, such as name, phone number, and bank info, are kept safe. The company says they do not share your data with third parties without your permission.
Still, always be careful. Do not share your passwords with anyone. Avoid apps that ask you to pay money before giving you a loan. Rocket Loan Plus does not ask for any upfront fees.
Customer Support
If you need help, you can contact Rocket Loan Plus by email or visit their office:
- Email: rocketloan074@gmail.com
- Office Address: 86 Yaya Crescent, Ajeromi-Ifelodun 102241, Lagos, Nigeria
You can also send a message directly from the app if you have questions or need assistance with your loan.
Final Thoughts
Rocket Loan Plus is a simple and fast loan app for Nigerians. It gives users access to small and medium-sized loans. The process is easy, and everything happens on your phone.
You only need to meet the basic age and ID requirements. There are no extra fees, and the interest rate is clear. This helps you plan your repayment without confusion.
However, as with all loans, you should borrow only what you can repay. The interest may look small, but it adds up if you delay payment. To avoid stress, always repay on time.
If you need cash quickly for rent, school fees, or business needs, Rocket Loan Plus is one of the options you can try. Just make sure to read all terms before accepting any offer.
