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Branch Loan App Review 2024: Is it Legit and Safe?

This review post on the branch loan app will help you understand how to get a personal loan and whether it is legit and safe?

Branch loan app is a legit and secure loan platform, approved by CBN. A reliable app for personal and SME loans with no late fees. Also, it is easy to qualify and be eligible for the branch loan with a fast payout.

Indeed, the Branch app loan is one of the best loan apps in Nigeria due to its impressive service delivery. Such as easy loan access, no paperwork, low-interest rates and no late fees.

So, let’s start.

What is Branch App Loan?

The branch loan is one of the services offered by the branch app. Owned by The branch company, the fintech app offers financial services such as loans, free bank transfers, investments and payments of bills, airtime and data to its millions of users.

Of all the Branch products and services, the loan aspect is the most popular. With the aid of Machine learning, the company is able to determine how creditworthy is its customers – whether one will qualify and the amount of loan for a start.

As mentioned above, the Branch loan is not a stand-alone app like other loan apps rather, it is one of the products of the Branch app. Hence, to access it, you have to download the Branch app.

Indeed, it can come in handy for anyone who needs a quick loan online with little paperwork and effort. It is a loan for personal or small business use with a competitive repayment interest rate.

However, do not expect to get a huge amount of funds on the branch app as a first time user.

Rather, you are simply offered a small amount depending on factors like the amount of data the branch app is able to gather on your smartphone with your BVN information.

Read the full review of the Branch here

Is Branch loan app Legit?

The branch loan app is legit because it is licensed and approved by the CBN to provide loans and other banking services in Nigeria. . The Branch is an international company, not one of the fake loans apps.

In addition, with a Branch loan, there is no application fee and paperwork before you get a loan and no late fees.

Read: Best Online Banks in Nigeria

Is Branch loan app Safe?

The branch loan app is safe to get a loan. The data collected from your phone is to determine your creditworthiness and not to embarrass your contacts when you default.

Also, the branch loan app is safe as your data and transactions are encrypted with the latest technology. However, keep your login details secure

How to download the Branch loan app and get Referral Bonus

Follow these steps to download, sign up and get a 650 Naira referral promo bonus on the Branch app:

  1. Go to Google Playstore, search for Branch and install.
  1. Next, select your Language. English, Hindi or Kiswahili. Then, tap Continue
  1. Tap Take me to Sign in/ Register
  1. Then, tap I’m new to Branch
  1. Select your country from the list. Then, Tap Register with Phone Number or Register with Facebook. Phone number preferably
  1. Enter your phone number and tap Register new account.
  1. Lastly, fill in the details, your BVN, take a selfie passport and others.
  1. Firstly, After you sign up on the Branch app, proceed to make a first deposit into your wallet. A debit card or bank transfer.
  1. Thereafter, a promotion code will pop up. Enter IKUSER98161.
Branch loan referral promotion code bonus
  1. If you didn’t see the pop up after deposit, tap the Invite tab. Tap Enter a promotion code and enter the code.
  1. Lastly, you will receive your bonus in Branch Reward within 24 hours.

Note: This promo code only works after your first deposit and will not work if you try it after a second deposit or next.

To understand it better, read my post on the Branch app referral bonus and the terms and conditions

How to apply for Branch App Loan Online

To apply for the Branch loan after signing up on the app, follow these steps:

  1. Firstly, open the app and tap the loan tab.
  2. Then, choose the loan amount the app offers you or swipe to select a lesser amount.
  3. Thereafter, proceed to select the loan terms.
  4. Lastly, tap Apply to wrap up the loan process.
how to apply for Branch app loan

How to qualify and eligible for a Branch Loans

There are two important steps required to qualify and be eligible for the branch loan. These are:

  1. Verify Branch account: Complete all the sign-up processes including adding your BVN and phone number.
  2. Use your smartphone: if your smartphone is new or not enough of your data, you won’t be eligible for a branch loan. Hence, if you have verified your account but are not qualified for a branch loan, continue to use your smartphone, such as to make calls and chat, and keep checking the app. Very soon, you will be able eligible for the loan.

Branch Loan Limit: How much can you borrow from the App?

Generally, as a Nigerian user, how much loan you can borrow from the Branch app is from 2,000 Naira to 500,000 Naira. That is the limit. However, as a new user of the app, you won’t be able able to borrow 500,000 Naira for the first time.

Therefore, how much branch loan you can borrow depends on these factors:

  • The data on your smartphone.
  • BVN number.
  • And most importantly, your repayment history.

What is the Branch App Loan Interest rate?

Below, is the branch interest rate on loans:

Loan Terms4 – 52 weeks
Interest range17% – 40%
Monthly interest1.5% – 20%
Equivalent APR18% – 260%
Late/Rollover feesNone

Simply put, if you apply for this loan, below is the amount you will pay plus the duration.

Loan Amount28 Days Repayment62 Days Repayment
5000 naira6,000 naira7,000 naira
11,000 naira13,200 naira15,400 naira
14,000 naira16,800 naira19,600 naira

How to repay Branch App Loans

Follow these steps to repay your branch loan:

  1. Open the Branch app and tap Loan.
  2. Thereafter, tap my loan > Make a payment.
  3. Next, enter the amount you want to repay.
  4. Then, select the payment method. Bank transfer, USSD, Cash or Debit card
  5. Proceed to pay.

How to repay Branch Loans Automatically

You can choose to repay your branch loan automatically by following these steps:

  1. Firstly, tap loan on the app.
  2. Next, tap my loan > Make a Payment.
  3. Then, add a new debit card or use your current debit card
  4. Thereafter, turn on the auto-debit and make the payment

Subsequently, the payments will be automatic.

What happens when you fail to pay Branch loans?

Failure to repay your branch loan on schedule is bad for you as it will affect your credit score and the loan amount you can get later.

Of course, this can happen occasionally since the branch does not charge for late repayment. However, don’t let it be frequent.

Furthermore, refusing to pay the loan can make the Branch report you to the National Credit Reference Bureau. This can prevent you from getting loans elsewhere.

Branch Customer Care

The branch Nigeria does not have a phone number you can call. So, there are 2 ways to contact the company:

  • In-app message.
  • Social Media Handles.

To contact Branch customer care on the app,

  • Simply, open the app and tap the profile icon on the top right corner.
  • Then, tap Help.
  • Next, tap Customer care.
  • Lastly, type your message and send it.

You will get a response very soon.

Alternatively, use any of the social media handles below:

Branch Alternatives

Apart from the Branch, some alternatives loan apps or companies are:


Is branch a good loan app?

The Branch loan is a good loan app; a quick online loan app that you can apply for easily with a competitive interest rate.

How long does it take for the Branch to process the loan?

The branch loan is processed within 24 hours. Therefore, when you apply for a loan on the branch app, it should be credited to your account within an hour, at most a day.   

Why is your Branch loan application rejected?

The Branch can reject your loan if there is not enough data on your smartphone to determine your credit score. This is most likely because you are a fresh user of the app, so Branch is still processing your details.
In this case, the solution is to continue to use your phone and the app and then check back later. Within a short time, you will be qualified to apply for a loan

Why is my loan amount not much and how to increase the loan amount?

The branch app uses data on your phone to determine your credit score which is why your amount is not much. Additionally, as a first time, you should not expect to get a large amount of loan.
To increase your loan amount, ensure you always repay the loan on time. This will build your credit score and ultimately, increase the loan amount you can apply for.

How to check my Branch loan balance

To check your branch loan balance, open the branch app and tap the Loan tab. Next, tap my loan to view it

What is the Branch loan repayment schedule like?

The repayment schedule depends on the duration of the loan. The options are one-time payment, weekly, and monthly options.

Final Thoughts

Branch app is a trusted loan and investment app by millions of users around the world. The ease, good interest rates, no collateral and late fees are reasons why Branch is one of the best loan platforms in Nigeria and other countries it operates.

Apart from loans, the Branch app is an app that has a lot of benefits and caters for everybody whether you desire to save and invest, pay bills or use its free bank transfer.

Therefore, try it and let me know your experience.

Lastly, let me know your opinion by dropping comments below.

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