Pennylender is an online moneylender platform that provides single payment loans, business loans, instalment loans and payroll loans for borrowers through their employer.

Pennylender’s minimum loan amount is N10,000 and the upper limit for a new customer is N500,000.

Minimum loans can be borrowed for a period of 30 days. However, other loans like the instalment and payroll loans can be borrowed for a period of six months.

Also, data provided by your employer determines the size of loan and interest rate. These data also include salary, length of service and position.

REQUIRED DOCUMENTS

  • Valid means of identification (Int’l passport, Driver’s License, Permanent Voters Card, National ID card)
  • Utility bill
  • Passport photograph
  • 3 months bank statement
  • Employment letter or promotion letter or contract review

Applying for loans from Pennylender is very simple and it can be done by visiting www.pennylender.com