Ultra Naira Loan App Review


In today’s fast-paced world, financial emergencies can strike when you least expect them.

Whether it’s a medical bill, a car repair, or any unexpected expense, having access to quick and reliable loans can be a lifesaver.

This is where Ultra Naira, a mobile loan app tailored for Nigerians, comes into play.

In this post, I will go into the details of Ultra Naira, its pros, cons, and what you need to know before considering it as your go-to financial solution.

ultra naira loan app

The Ultra Naira App Download Here

Ultra Naira is a financial lifeline available on the Google Play Store, offering the convenience of quick and easy loans for the Nigerian populace.

Boasting over a million downloads, it’s safe to say that many have found solace in this app during their financial crunch times.

Loan Range and Repayment Terms

One of the standout features of Ultra Naira is its flexibility in terms of loan amounts and repayment terms. You can borrow anywhere from ₦10,000 to ₦500,000, with the freedom to choose a repayment window spanning 91 to 180 days.

This level of flexibility ensures that you can cater to various financial needs without being strapped to a rigid repayment schedule.

Interest Rates

When it comes to interest rates, Ultra Naira offers a reasonable range.

Depending on your loan amount and chosen repayment term, you can expect interest rates to vary between 10% to 35%.

This diversity allows borrowers to select options that align with their financial capabilities.

Pros of Ultra Naira

1. Quick and Easy Application

The loan application process with Ultra Naira is a breeze.

Say goodbye to long, tedious forms and waiting in line.

With just a few clicks, you can submit your application and receive an instant response, making it a lifesaver in times of urgency.

2. No Collateral Required

Unlike many traditional lenders, Ultra Naira doesn’t ask for collateral.

This means that your valuable assets remain safe and untouched, providing peace of mind for borrowers.

3. A Wide Range of Loan Options

As I mentioned earlier, Ultra Naira’s loan range is extensive, ensuring that you can access the amount you need, whether it’s for a small expense or a significant financial endeavor.

4. Flexible Repayment Terms

The app offers various repayment terms, accommodating different financial situations and preferences. You can choose a term that suits your repayment capacity, making the process more manageable.

5. Secure and Private

Security is a significant concern when dealing with financial transactions.

Ultra Naira ensures the privacy of your financial information, keeping it confidential and secure.

6. Transparent Fees and Interest Rates

One of the strengths of Ultra Naira is its transparency.

You won’t encounter hidden fees or unexpected rate changes.

Everything is clear and upfront, allowing you to make informed financial decisions.

7. Good Customer Service

Excellent customer service is essential when dealing with financial matters.

Ultra Naira has received positive feedback for its customer support, ensuring that you can reach out with any questions or concerns.

Cons of Ultra Naira

1. Relatively High Interest Rates

While the interest rates are reasonable, they may still be considered high for some borrowers.

It’s crucial to compare these rates with other lenders to ensure you’re getting the best deal.

2. Short Repayment Terms

The flexibility of Ultra Naira’s repayment terms is a double-edged sword.

While it’s excellent to have options, some may find the shorter terms challenging, especially for larger loan amounts.

3. Technical Issues

Some users have reported experiencing technical issues with the app.

It’s important to consider this factor if you’re heavily reliant on the app for your financial needs.

Who is ultra Naira?

When it comes to financial transactions and digital lending, safety and security are paramount concerns. In this post, I will go into the safety aspects of Ultra Naira, giving you a comprehensive understanding of what to expect.

The Legitimacy of Ultra Naira

Ultra Naira is not a fly-by-night operation.

It is operated by Piska Tech Nigeria Limited, a company that is not only registered with the Securities and Exchange Commission (SEC) of Nigeria but also holds a license from the Central Bank of Nigeria (CBN).

These regulatory affiliations ensure that the company operates within the bounds of the law and follows industry standards.

Mission and Approach

Founded in 2022, Ultra Naira has a clear mission: to provide Nigerians with quick and convenient access to credit.

To achieve this, the company employs a proprietary algorithm to evaluate the creditworthiness of borrowers and swiftly disburse loans.

This technology-driven approach eliminates the need for collateral and opens up borrowing opportunities to individuals with varying credit histories.

A Popular Choice for Nigerians

Ultra Naira has garnered popularity among Nigerians who require rapid access to funds, whether for unforeseen medical bills or educational expenses.

The company’s reach extends beyond individuals, as it also caters to small businesses, facilitating their growth and expansion.

Safety Measures

Safety is a top priority for Ultra Naira.

The company employs industry-standard security measures to safeguard users’ data and financial information.

This includes encryption protocols and secure data handling practices to protect sensitive information.

Customer Support

Should users encounter any problems or have questions, Ultra Naira offers a dedicated customer service team.

They are available to assist and provide guidance, ensuring a smooth experience for borrowers.

Vigilance is Key

While Ultra Naira takes comprehensive measures to maintain safety, it’s essential to remain vigilant.

There have been reports of scams and fraudulent activities associated with the app.

To protect yourself, only download the Ultra Naira app from the official Google Play Store or App Store. Avoid sideloading from unverified sources.

Protecting Your Personal and Financial Information

Your personal and financial information should only be shared directly with Ultra Naira.

Be cautious of unsolicited requests for such data from third parties.

The company will never ask for sensitive information through unofficial channels.

Which is the most trusted loan app in Nigeria?

In Nigeria, the quest for a trusted loan app is a vital pursuit, considering the financial needs and emergencies that can arise.

While the title of the “most trusted” loan app can be subjective, there are several popular and well-regarded options that have gained the trust of many Nigerians.

These options are not only licensed and regulated by the Central Bank of Nigeria, but they also offer diverse loan solutions to cater to a wide array of financial requirements.

In addition, they have earned a solid reputation for their customer service and commitment to transparency.

Here is a list of some of the most trusted loan apps in Nigeria:


ALAT, a digital bank, offers various financial services, including loans.

It has gained a strong reputation for its user-friendly app and customer-centric approach.

2. Branch

Branch provides accessible and transparent lending services, making it a popular choice among Nigerians. Their user-friendly app simplifies the borrowing process.

3. Carbon

Formerly known as Paylater, Carbon is a well-established loan app known for its quick loan disbursement and flexible repayment terms.

4. FairMoney

FairMoney offers a range of financial products, including loans.

With a commitment to transparency, it has gained trust among its users.

5. Kuda

Kuda, a digital bank, has ventured into the lending sphere, offering loans with competitive terms.

Its app is popular for its sleek design and user-friendliness.

6. PalmCredit

PalmCredit is recognized for its accessibility and rapid loan disbursement.

It’s a convenient option for those in need of quick financial assistance.

7. RenMoney

RenMoney offers a range of financial products, including loans.

Its reputation for reliability and transparency makes it a trusted choice for borrowers.

8. Umba

Umba stands out for its commitment to financial inclusion and accessibility.

It offers various financial services, including loans.

It’s essential to remember that no loan app is without its imperfections, and there are inherent risks associated with borrowing money online.

Therefore, diligent research and consideration are pivotal when choosing a loan app.

Here are some key factors to weigh:

  • Interest Rates: Compare the interest rates offered by different lenders to ensure you’re getting the most competitive deal.
  • Repayment Terms: Consider the repayment terms and select a lender whose terms align with your financial situation.
  • Fees: Examine the fees charged by the lender. Transparent and upfront fee structures are preferable.
  • Customer Service: Read reviews and gather insights into the quality of customer service offered by the lender.
  • Borrow Responsibly: Only take out a loan if you can comfortably make the repayments on time. Failure to do so can have serious financial consequences, including damage to your credit score.

Here’s the information in a table format for easier reference:

Loan AppDescription
ALATA digital bank offering various financial services, including loans.
BranchKnown for accessible and transparent lending services.
CarbonFormerly Paylater, it provides quick loans with flexible repayment terms.
FairMoneyOffers a range of financial products, including loans, with a commitment to transparency.
KudaA digital bank with competitive loans and a user-friendly app.
PalmCreditPopular for accessibility and rapid loan disbursement.
RenMoneyReliable and transparent lender offering various financial products.
UmbaCommitted to financial inclusion and accessibility, offering various financial services, including loans.


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how to apply for ultra naira loan

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Remember to conduct thorough research, compare interest rates, repayment terms, fees, and consider customer service quality when choosing the right loan app for your needs.

Additionally, always borrow responsibly to protect your financial well-being.

Can loan app access my contacts if uninstalled?

In the digital age, concerns about data privacy and app permissions are more relevant than ever.

You might have found yourself wondering, “Can a loan app access my contacts even after I’ve uninstalled it?” The answer is not only yes, but it’s a matter of understanding how and why it happens.

In this post, I’ll explain the intricacies of this scenario and provide tips on how to protect your data and privacy.

The Persistence of Data

When you install a loan app on your mobile device, you are typically prompted to grant various permissions.

These permissions can include access to your contacts, location, camera, and more.

In the case of contacts, you might allow the app to view and use your contact list for various purposes, such as verifying your identity or facilitating communication regarding your loans.

What many users don’t realize is that when you grant these permissions and use the app, the data is often uploaded to the app’s servers.

This data can include your contact information.

This is where the potential problem arises.

The Uninstallation Dilemma

Uninstalling the app from your device doesn’t necessarily mean that the access to your data stops.

Once your contact information is uploaded to the app’s servers, it remains there unless explicitly removed.

This means that even after uninstallation, the app can continue to access your contacts and potentially use them for various purposes.

Protecting Your Data and Privacy

To safeguard your data and privacy and prevent loan apps from accessing your contacts without your consent, consider the following tips:

1. Source Matters

Only download loan apps from trusted sources, such as the official Google Play Store or App Store.

These platforms have stricter regulations and monitoring processes in place to protect users.

2. Read the Fine Print

Before installing a loan app, take the time to read its terms and conditions and privacy policy. Understanding how your data will be used is crucial.

Avoid apps that have vague or intrusive policies.

3. Be Selective with Permissions

When installing a loan app, be cautious about the permissions you grant.

Only allow access to your contacts if it’s absolutely necessary for the app’s core functionality.

4. Revoking Permissions

Regularly review the permissions granted to the apps on your device.

If you’re no longer using a particular loan app, revoke the permissions it has, including access to your contacts.

5. Contact Customer Support

If you’re concerned about a loan app accessing your contacts, reach out to the app’s customer support team.

You can request that they delete your contact data from their servers.

It’s important to note that some loan apps genuinely require access to your contacts for valid reasons, such as identity verification or contacting you regarding repayments.

However, it’s crucial to exercise caution and avoid apps that seek contact access for marketing or unsolicited communication.


In conclusion, Ultra Naira is a viable option for Nigerians seeking quick access to cash.

The convenience of the application process, coupled with a broad range of loan options, makes it an attractive choice.

However, it’s vital to note that the interest rates may be relatively high, and the short repayment terms can be a double-edged sword.

As a relatively new player in the lending industry, conducting thorough research and reading user reviews is crucial before making a decision.

Remember that Ultra Naira is not a traditional bank and is not subject to the same regulations. Therefore, it’s essential to be fully aware of the risks associated with borrowing from this platform.

Furthermore, be prepared to share a significant amount of personal information when applying for a loan. Ensure you are comfortable with this level of disclosure before proceeding.

If you’re contemplating taking out a loan from Ultra Naira, carefully weigh the pros and cons.

Familiarize yourself with the terms and conditions to guarantee that you can manage the monthly repayments without compromising your financial stability.

Ultra Naira can be a valuable tool in managing your financial needs, but responsible borrowing is essential to make the most of it.


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