| Interest Rate | 35% |
| Duration | 7 |
| Access Level | Public |
| Company Name | BLOOMS MICROFINANCE BANK LIMITED |
| Phone 1 | |
| Phone 2 | |
| Website or Store | |
| Address | |
| Category | Mild Loan |
| Company Email | |
| Views | 120 |
Step by step guide to break free from loan apps
About Pal Loan
Life doesn’t wait—and neither should your finances. At Pal Loan, we understand that urgent expenses can arise anytime. That’s why we offer fast, flexible loans with competitive rates, designed to help you stay in control without stress.
Why Choose Pal Loan?
We’re a leading online lending platform in Nigeria, dedicated to making borrowing simple, secure, and hassle-free. Whether it’s an emergency, business need, or personal expense, Pal Loan provides instant financial solutions with speed and transparency.
Our Services
✅ Instant Loans – Get funds quickly with minimal paperwork and rapid approval.
✅ 24/7 Customer Support – Friendly assistance for applications, repayments, and inquiries.
✅ Secure & User-Friendly App – Manage loans anytime, anywhere with ease.
✅ Flexible Repayment – Choose a plan that fits your budget.
Our Mission
To empower Nigerians with fast, fair, and trustworthy loans—helping you bridge financial gaps and achieve your goals.
Our Vision
To be Nigeria’s most reliable digital lender, known for speed, integrity, and customer-first service.
Core Values
✔ Trust – Your security and privacy are our top priority.
✔ Speed – No long waits—just quick access to funds.
✔ Simplicity – Easy applications, clear terms, no hidden fees.
✔ Support – We’re here for you at every step.
Get a Loan in Minutes!
With Pal Loan, you don’t just get funds—you get a financial partner who cares. Our process is secure, straightforward, and stress-free, so you can focus on what matters most.
Join Thousands of Satisfied Borrowers!
Ready when you are. Download the Pal Loan app today and experience the fastest way to financial flexibility!
Expert Counsel
Send firm replies to loan app agents to stop their cyberbullying and blackmail.
The fastest way to stop cyberbullying is to stand up and fight back!
fight back they will leave you alone within a few days. but If you can't handle them simply block them using Truecaller to have peace of mind
Under Nigerian Civil Law, particularly in the context of money lending and microfinance banking, a contract may be considered invalid, unenforceable, or void in the following situations:
1. Illegal or Unlicensed Money Lender
According to the Money Lenders Act, any money lender operating without a valid license from the relevant state authorities or the Central Bank of Nigeria (CBN) is illegal, making contracts with them unenforceable
2. Unconscionable or Exploitative Terms
Contracts with excessive interest rates or hidden fees may be deemed unconscionable and unenforceable under consumer protection laws.
The Central Bank of Nigeria (CBN) caps interest rates for microfinance banks and regulates fair lending practices.
3. Fraud, Misrepresentation, or Coercion
A contract is voidable if the lender used deception, misleading statements, or threats to force a borrower into signing.
Section 19 of the Money Lenders Act states that fraudulent or deceptive lending practices can make a loan agreement unenforceable.
4. Breach of Privacy & Harassment by Loan Apps
Loan apps that invade borrowers’ privacy by sending defamatory messages to contacts violate the Nigerian Data Protection Regulation (NDPR).
FCCPC has declared harassment by loan apps as illegal, and contracts based on such practices can be challenged as invalid.
5. Absence of a Proper Written Agreement
Under the Money Lenders Act, any loan exceeding ₦20,000 (varies by state) must have a written agreement signed by both parties.
If there is no signed agreement, the lender may not be able to enforce repayment legally.
6. Violation of Loan Tenure & Repayment Rules
CBN guidelines on microfinance lending specify minimum and maximum repayment tenures.
A contract that violates these guidelines may be challenged.
7. Duress or Undue Influence
If a borrower is forced to sign under threats, blackmail, or undue influence, the contract is invalid under Section 20 of the Contract Law of Nigeria.
8. Lending to a Minor
A loan contract with anyone under 18 years old is automatically void under the Nigerian Contract Law.
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Safely Report A Loan Shark
If you have borrowed from a loan shark or are worried about someone else, we’re here to help and keep you safe. Learn how to break free from their grasp.
