Flypay Loan App: Requirements and How To Apply in 2024

Flypay is a popular digital loan app that is designed to help Nigerians borrow money easily without the need of collateral and pay back with low interest rate.

Are you a Nigerian, urgently in need of money and intend to borrow money from Flypay? That’s not bad. However, there are some certain requirements that must be met before your application can be considered.

Another good thing about this platform is their loan offer which ranges ₦5000 to ₦600,000, even as a new user you stand a chance of getting a reasonable amount.

I will tell you everything you need to know about Flypay loan app, requirements, eligiblity, pros and cons, how to borrow and interest rate. Just scroll down and read the article carefully in other to get all the key points.

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What is Flypay loan and how does it work?

Just like other loan platforms, Flypay is a digital loan platform that provides Nigerian users the opportunity to borrow money without the need for collaterals and pay back with an interest rate.

Flypay has an app which is available on Google Playstore. Users who intend to borrow money from the platform are required to download the mobile app first and then register.

Flypay loan also have some which must be met before a user can be considered for a loan such as age, nationality, BVN, and even credit score.

The platform is also registered and licensed by the Central Bank of Nigeria (CBN) which makes them very much trustworthy and a reliable platform that users can get quick loan.

Flypay loan eligibility and requirements

Before your application can be considered at Flypay, here are some certain requirements that must be met:

  • Age Requirement: before your application can be considered at Flypay, you must be at least 18 old and above before applying.
  • Must be a citizen of Nigeria: This is very important, Flypay loan is only available in Nigeria at the moment so every applicants must be a valid Nigeria citizen.
  • Must have a valid BVN: You must provide your 11 digit bank verification number (BVN) to help check your credit score.
  • Nigeria Bank account: You must have an active Nigeria bank account that has your name on it to help disburse your loan. This is very necessary, you won’t be able to receive a loan without Nigeria bank account.
  • Maintain a good credit score: This is required, you must ensure that you’re not owning any bank or another loan app. This might ruin your chance of getting the loan.
  • Must a tangible source of income: You must not be an idle man, you’re required to state the occupation that fetch you money either, daily, weekly or monthly.

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How to apply for Flypay loan

If you have met the requirements I listed above and is considering applying loan, then follow the steps:

Step 1: App download

Flypay app is currently available only on Google Playstore, then download and install the app. Take note that you can’t access Flypay services without using their app.

Step 2: Create an account

After you might have successfully downloaded the app on Playstore, the next step is to create an account. Here are steps to create an account:

  • Launch the Flypay app on your smart phone and navigate to sign up page.
  • Input your personal details which includes, full name, phone number, age, gender, email address, and others.
  • You will be promoted to take a real time photo (biometric authentication)
  • Then Input your bank verification number (BVN)
  • Enter your bank details for loan disbursement.
  • Create your password and the click on sign up.

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Apply For a loan

After you might have successfully sign up using the required details, the last step is to apply for a loan. Here steps you should follow:

  • Upon successful account creation and confirmation, navigate to your dashboard.
  • From your dashboard click on Loan Offer
  • Next, click on check loan offer 
  • Flypay will then review your details. If your detail is corresponding with the requirements you will get a loan offer.
  • Then, accept the loan offer and issue for disbursement.
  • Wait for few minutes and the money will be disbursed into your account details.

Flypay loan Pros and Cons

Here are some advantages and disadvanteges of Flypay loan you need to know before applying:


  • User-friendly app: Flypay loan app has a user-friendly interface which is very easy to utilize compared to most loan apps.
  •  Quick loan application: Flypay loan application process is very quick, just input your details and you get a loan offer.
  • Competitive interest rate: Another advantage of Flypay is it loan interest rate which is between 15% – 30%
  • Flexible repayment: With Flypay, you can choose to pay either weekly, bi-weekly or monthly.
  • No need for collaterals: You don’t need to provide any collateral before getting a loan from Flypay.


  • Small loan offer for new users: New users are likely to receive a small loan amount since they’re new. As a new user, the amount you get might not be able to solve your problem at that moment.
  • Strict repayment terms: Failure to pay or pay on time will attract additional repayment fee which many might find it difficult to afford.
  • Short repayment duration for new users: New users will be required to pay back their loan within a short period of time.
  • No loan offer: You might not receive any loan offer even after meeting the given requirements.

Here are some of the cons you might likely experience with Flypay loan app.

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Flypay loan offer and interest rate

Flypay loan offer ranges between ₦5000 to ₦600,000 depending on your credit score. New users are likely to get lower loan offer which will improve over time if they maintain good credit score.

At the other hand, Flypay interest rate ranges between 15% to 30% depending on the loan amount and other factors.

FAQs and Answers

What happens if I don’t pay my Flypay loan?

Failure or late loan repayment might lead to following consequences: additional repayment fee, ruin your credit score, BVN report and automatic debit.

Is Flypay legit or scam?

Flypay is a legitimate digital loan platform that provide users the opportunity to borrow money without the need for collaterals.

Is Flypay licensed by CBN?

Yes, Flypay loan is registered and authorized by the Central Bank of Nigeria (CBN), making them reliable and trustworthy.

How long does it take for Flypay loan to be approved?

Flypay loan loan approval average timeframe ranges between 10 minutes to 4 hours. In some cases it might surpass but that’s the average loan approval timeframe.

Why can’t I get a loan from Flypay?

The primary reason why you are not getting any loan offer from Flypay is when you don’t meet the requirements.

It’s important to meet all the given requirements before applying for a loan, secondly make sure you sign up using the right details, this can be another reason why you’re not getting a loan offer.


Flypay is a great loan app to borrow quick loan in a flexible way. However, before applying for loan, draw clear strategy on how to pay back loan and be free from debt.

All the things I outlined in this article will help you learn and understand more about Flypay and it loan format, if possible read the privacy and policy page to learn more about the platform.

Please also take note, that we’re not in any form endorsing or affiliated with this platform. All the contents you see here is our review based on the research we make. If you have additional inquiry or clarification about Flypay loan app the. Scroll down to the comment section.

Ugo Prosper Chibuzor

Hello everyone..... I'm Prosper Chibuzor Ugo, the founder and senior editor at Edu Forum Nigeria. Feel free to reach out to me using any of the contact details available below.

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