FoundOne app: I was charged N9,700 on N8k loan for 6 days — Borrower

FoundOne app: I was charged N9,700 on N8k loan for 6 days — Borrower

A customer of FoundOne lending app has revealed how the loan platform charged him N9700 interest on N8,000 loan for just 6 days tenure.

Making a review on Google Play Store at the platform where the app was hosted, the customer named Nneka Violet lamented that she only requested for N5,000 loan only for the app to approve N8k with a repayment of N17,700 for just 7 days.

Nneka vowed that she will never use the loan and that she is ready to return it to the lending app. She threatened FoundOne that they won’t like what is coming to them, asking the platform to collect back its money because she is no longer interested.

Read he comment below

If you people have been doing this to people and go Free, I’m so ready to take this case up.i needed just 5k, no option to reduce it because I was shown 8000. Only for me to check the app, and I’m seeing a repayment of 17,700? For 8000, loan for 6days? You won’t like what is coming up. Is either you tell me how to refund the 8k, back, I’m not interested, or you do something about the interest. Are you people in Nigeria to destroy people?

Other customers gave feedback about FoundOne loan app as below:

Balogun Sunday
20 October 2021
I would have given five star but both FoundOne app and the owner are scammers…. Firstly, the interest rate is too much and the time to pay back is too short. How can I borrow #7000 and you are asking me to pay back #10000 within seven days. And the money to pay back keeps increasing everyday before the due date….. You guys are trash….. To hell with you.. Just fix your app, let me pay back and destroy the app on my phone

Ruth Adeyemo
1 October 2021
FoundOne app is not good at all, I tried to pay my repayment back since two days ago, their online and offline are bad. I want to let you know that I can’t pay over charges.

Henrietta Wilson
8 October 2021
This app keeps telling me to keep a good record and apply next time as if I’ve ever loan money from you and didn’t pay back, this is the worse app so far, please don’t download.

Godfrey Kanu
13 September 2021
I just made a loan repayment to FoundOne app just a few minutes ago and overpaid by N500, tired calling the customer service number but switched off. If customers can’t reach you except you call them, then it’s really bad , my conversation yesterday with you guys was somehow not what I expected was poor so for now I will rate you 1 when you offer good customer service I will change it. Please sit up

bammy cole
20 September 2021
I will rate FoundOne app one star , though money disburse was fast but how come i collected 5000 and repay my loan back 4 days b4 due date .And i was expecting the loan amount to increase ,yet you still give another 5000 again at stage two .it makes no sense


1. Quick Loan Arena offers a social support initiative for members of its QLA Business Club.. The Club is to help members save and invest and earn monthly interest on their savings. It’s also for members to borrow soft loans at a very low interest rate for short term projects.

2. QLA Business Club will assist members raise pay day loans or soft loans for tenure up to one month.

3. You must be a member of QLA Business Club to be qualified to save, invest, earn interest or collect a loan or participate in the group activities.

4. To become a member of QLA Business Club, you must register with a membership fees of N5,000. After filling out our registration form.

5. QLA Business Club Members are expected to make voluntary weekly or monthly or fixed sum contributions which will earn 2% interest every month.

6. Loan amounts are N5k, N10k, N15K, N20k and N50k for tenure up to 30 days.

7. Members are free to invite other people to become members and shall be eligible to 25% of their registration fees as commission.

8. QLA Business Club loans are subject to a guarantee of 100% coverage of your loan amount partly in form of your savings and partly in form of 1 or 2 guarantors’ contributions who must be members of the club.

9. Loan disbursement commenced Tuesday 29th December, 2021 for members.

10. All members of QLA Business Club are hosted on a special forum where discussions and strategies are held regularly.

You can speak with any of our Loan Consultants for more information! Call or Whatsapp our business telephone (0) 915 382 1578.

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