Payday Loans – How To Borrow Money From Maxi Loan [Full Step By Step Guide]

Payday Loans - How To Borrow Money From Maxi Loan [Full Step By Step Guide]

Payday Loans – How To Borrow Money From Maxi Loan.

Payday loans have saved a lot of people from going bankrupt.  However, loans should not only be taken in dire situations. Most people see loans as assistance that they can take only when they’re about to go down. 

While this is a good reason, taking loans show not be limited to reasons like this.

In one of my articles, I explained some of the good reasons to take out a loan. You can check it out.

Maxi Loan is one of the payday loans in Nigeria and it has helped a lot of people.

These types of loans are called payday loans because they are often taken when people are falling a bit short on their budget before their next payday (or salary).

Maxi Loan provides users with fast access to funds and gives them the freedom to address most of their financial needs by using the Maxi Loan app. 

What You Should Know About Maxi Loan?

– Convenient and easy service.

Maxi Loans offers a convenient and easy loan service to its users all over Nigeria.

The requirements and procedures for getting a loan should not take up to 5 mins.

– Customer satisfaction.

Maxi Loan is very particular about satisfying its customers and it will do everything to ensure that.

– Protect your credit score. Maxi Loan understands that your credit score is important to get a bigger loan and they will ensure that it increases. 

– Fast process and account funding.

As long as you fill in your correct details, Maxi Loan lets you have your funds disbursed into your account in 5 to 7 minutes.

– Personal financial assistant.

If you ever need a personal assistant to assist you with any difficulty while trying to get your loan, Maxi Loan has got you covered. Their customer care team is ready to help you out to have a seamless transaction.

Do I Need A Collateral For Maxi Loan?

No. Maxi Loan gives instant loans with no collateral.

Maxi Loan requires no collateral to give a loan. It is an online app that lets its users get loans without holding any of their property. 

Maxi Loan will not ask you to pay a fee or drop paperwork before you’re given the loan. It is a 100% stress-free and paperless transaction that you can do in under 5 mins. 

Is MaxiLoan App Legit?

Yes, the MaxiLoan platform is legit and can give you quick loans, however, the interest rate is a bit high. Hence, before you apply for a low, read the terms and conditions as well as reviews from other customers for a proper understanding of what you want to apply for. 

Make sure you understand their terms and conditions before going ahead to take loans.

What Are Maxi Loan Requirements?

There are no tough requirements to get a loan from Maxi Loan.  

To get a loan from Maxi Loan, below are the fee requirements that must be met:

1. Loan collectors must be above the age of 18.

It is believed that individuals under the age of 18 may still depend on their guardians largely. Thus, they may not have a stable source of income thereby defaulting on the loan when due.

2. You are to submit your Bank Verification Number (BVN).

This increases the loanable amount available to you and it also ensures that Maxi Loan is safe to give you the loan.

If customers still refuse to pay their loan after every appropriate action has been taken. Maxi Loan has the right to report such customers to their bank while they take necessary actions. 

3. You will need to provide your bank account details.

This is where your loan will be sent once all processes are completed.

4. Stable source of income.

You must have a means of paying back the loan. This is more important than the reason why you need to take the loan.

Remember that this is an official agreement between you and an organization. You have to pay back.

5. You can either use your Phone number or Facebook details.

Ensure that the phone number is linked with your Bank Verification Number (BVN) to increase your chances of getting a better loan.

6. You must have downloaded the Maxi Loan loan mobile app.

How Do I Borrow From Maxi Loan?

To get money from Maxi Loan, you’ll need to follow these simple steps carefully.

1. Go to Google Play Store, and search for the Maxi Loan app (most times, you may not even need to search. It may be one of the apps that will be displayed to you once you open the app).

2. Download the application and install it.

3. Sign up with your phone number or Facebook profile.

4. Create a profile if you’re a new user or applying for a loan as an old user.

5. Fill in every necessary detail correctly.

You would be asked to fill in your name, date of birth, bank details (like your account number), and any other necessary information. Don’t worry about your details as it’s safe with them.

6. Click on “Continue” after selecting the loanable amount of your choice. This amount will be transferred to your bank account instantly by Maxi Loan and you will get a notification once the transaction is completed.

If you want to, you may go ahead to check your bank app for confirmation.

7. Get credited with money in your bank account within a matter of minutes. It is that easy.

From these steps, you’d also affirm that getting a loan on Maxi Loan is quite easy and of course, a very straightforward process that anyone can carry out. 

Have you tried borrowing from Maxi Loan or any other loan app or platform and your application was rejected? Then you should see this.

Application rejection can happen due to several reasons but one of the most important reasons is Credit History. A Bad Credit History.

What Is Credit History And How Can It Affect My Loan? 

Credit history, or credit report as it’s known, is a report of all the previous loans an applicant has taken in the past. 

It is a record of a borrower’s responsible repayment of debts. It includes credit history from different sources. 

Partial repayment is one of the factors that affect credit reports.

This is bad for your credit report, avoid it as much as you can!

I know you make these partial repayments to avoid loan defaults, but it affects your credit report negatively. 

When lenders see this, they’ll assume that you’ll do the same to the new loan, and they may be reluctant to grant you credit.

To qualify for a good loan on any loan app you need to have a good credit rating. If you want to know how to have a good credit rating, check out my other posts. They’ll guide you.


As easy as it is to borrow from Payday loans like Maxi Loan. It is important to avoid factors that can cause your application to be rejected.

Follow the steps above to borrow from Maxi Loan today or any day.