Aella is one of the popular fintech institutions that offers loan and investment services to its users. The institution operates in Nigeria, Ghana and the Philippines. This fintech platform offers loans without collateral. The company has many investors, like Friale, YCombinator, Vy Capital and lots more. One interesting thing about Aella is that they give special consideration to women to support their businesses.
Meanwhile, Aella has terms and conditions upon which they operate; hence, it is best to understand their policies before opting for their services. Not only that, there are also criteria that one must meet to be able to access loans from the Aella platform.
However, the platforms claim that they offer excellent financial loan services to their esteemed customers but some of their users hold contrary views about their mode of operation. Some of their customers frowned at their poor customer service. Nevertheless, if you are hearing about the Aella loan for the first time, it’s best to understand their policies to enable you to enjoy their services to the fullest. The subsequent sections are designed to keep you informed; stay tuned!
1. How Much Can You Borrow From Aella Loan?
The amount of money that a customer can get from Aella is not fixed. The customer’s credit score and trustworthiness determine the loan they can secure at a given point in time. Ordinarily, the amount of money that a user can get from an Aella loan ranges from ₦2,000 to ₦1,000,000. For new users, they may not be able to access huge amounts of money but the amount will increase if the user has a good repayable history.
2. Aella Loan Interest Rate
The Aella loan interest rate ranges from 4% to 29%. The interest rate is not fixed because it is dependent on the exact amount that the customer borrows and the repayment plan chosen. In all, the higher the loan amount, the higher the interest rate and vice versa.
3. Aella Loan Summary
| 1. | Loan repayment plan | 30 to 90 days |
| 2. | Interest rate | 4% to 29% |
| 3. | Available loan amount | 2,000–1,000,000 |
| 4. | Document | No document or collateral required |
| 5. | Support email | support@aellacredit.com |
4. Aella Loan Repayment Plan
The repayment plan for the Aella loan ranges from 1 to 3 months. One good thing about this loan app is that there are no late or rollover fees. But to be on the safe side, it’s best to repay the loan as agreed to enable you to have a good repayable history.
5. Aella Loan Requirements
As we noted in the introduction, there are basic requirements that a user must meet before accessing the Aella loan. Some of the requirements are outlined below:
- The applicant must have a functional bank account
- The intending applicant must have a bank verification number (BVN)
- The user must have a verifiable identity card, like driver’s license, National identity card, etc
- Person details like full name and address of the applicant must be handy
- The applicant is expected to have a positive account balance
6. Aella Loan Review
Most of the users have different views about the Aella loan platform. Some are of the view that the platform is a safe haven for loan procurement, while others have a contrary view. There are claims by some of their users that there are numerous cases of failed transactions.
According to reviews from the Play Store, most of the users recounted the ugly experience of failed transactions. Apart from that, some also complained about their poor customer service.
On the other hand, from the same source, some customers expressed satisfaction with the services offered by the Aella loan platform.
Conclusion
Aella has made a name for itself in the fintech space, offering loans without collateral to individuals and businesses across Nigeria, Ghana, and the Philippines. Their focus on empowering women and providing flexible loan options is commendable, especially for those seeking quick access to funds. However, like any service, Aella has its pros and cons. While many users appreciate its ease of use and loan accessibility, others have raised concerns about customer service and occasional transaction issues.
Before using Aella, it’s important to fully understand their terms, interest rates, and repayment plans to make informed decisions. If you meet the criteria and need quick financing, Aella might be a good option—just ensure you’re prepared for the experience, good or bad, as shared by other users. Borrow wisely and stay on top of your repayments to maintain a positive credit history.