Are you aware that you can leverage on fairmoney Reward system to earn as much as 12,500 Naira per friend you are able to convince to download and use the fairmoney app? Fairmoney as we all know is one of the most popular loan applications and recently microfinance banks out there.
There are lots of things that can be done on fairmoney, some of the interesting features cannot be easily accessed on some other payment apps or loan services. Before we get down to the features, there is need to state the purpose of writing this piece which is to shed more light on fairmoney referral reward program that enables referrers earn as 12,500 Naira per referral?! Isn’t that amazing?
Imagine earning up to this amount for just referring one person to the app? That’s crazy and even more mind-blowing if you can refer more than one person. But it doesn’t end at referring them to download and register on the app, there are some other tasks to complete; which is what we’ll be discussing in this article.
Recall that I promised to highlight some of the interesting features of fairmoney that may encourage you to take the app seriously. So let’s have a look at some of the interesting features of fairmoney app;
Features Of Fairmoney App
With the FairMoney app, you can enjoy the following services;
- Get an account number and use it to receive money from anyone in Nigeria
- Add money to your account
- Send money to any bank account for FREE
- Apply for a loan without collateral and receive it instantly
- Pay your online bills,
- Enjoy discounted airtime and bill payments
- Earn daily interest with FairSave with Free withdrawals
- Earn interest rates as high as 26% with FairLock (fixed-term deposits)
Prior to being licensed by the Central Bank of Nigeria, fairmoney was just a loan rendering app, when it comes to the loan service, fairmoney still stands out; below is a break down of the characteristics of the loan service offered by fairmoney;
- Online Loan amount starting from ₦1,500 to ₦1,000,000
- No collateral required
- 100% digital application & fast loan disbursements
- Repayment periods from 61 days to 18 months
- APR from 30% to 260% per annum
- Interest discounts of up to 90% for early repayments
- No hidden fees
Below is an example of how fairmoney loan service works;
Borrow ₦100,000 over 3 months
Interest (total cost of the loan): ₦30,000 (30% rate)
Three monthly repayments: ₦43,333
Total amount payable: ₦130,000
Representative: 120% APR
Now that we’ve talked about the various services fairmoney offers, let’s get down to the main referral reward and how it works.
How Does The Referral Bonus Work?
According to fairmoney, when you refer a user to their app and the user completes all the steps mentioned in their referral incentive page, you will be rewarded with a total of 12,500 Naira bonus which can be withdrawn to your local bank account.
Also Read: How to Earn 2500 Naira Via Referrals On Reach App
In order to understand it better, we are going to list the steps all your referrals must complete in order for you to earn the total bonus;
Steps to Qualify for Fairmoney Referral Bonus
1. You can earn up to 7,500 Naira Cashback immediately the user you referred takes his or her first loan and repays.
2. You earn up to 2,000 naira Cashback on first fairlock account creation. That is to say, when the user sets up a fairlock account and saves with any amount, you get rewarded with 2,000 naira bonus. Fairlock is fairmoney’s saving service similar to the service on piggyvest and other savings apps.
3. You earn 1,000 naira Cashback on the first electricity top up of the user.
4. You get 300 Naira Cashback if the friend referred upgrade his or her account to KYC 3 bank account.
5. You earn up to 700 Naira Cashback if your friend completes first data recharge transaction.
6. You earn 1,000 naira Cashback if all the services stated above are unlocked
How to Get Started to Start Earning 12,500 Naira referral bonus
Download the Fairmoney App from Google Play Store and sign up. While signing up make sure this code is showing – WYTNF
After signing up, complete the KYC verifications to be upgraded to a standard bank account.
You can decide to obtain a loan or you start making use of the services. To earn via referring, simply click on your profile and copy your referral link, share it to friends and when they complete the steps, you earn.
