Overview
Aella is a fintech company built to simplify instant credit and payment solutions for emerging markets, primarily serving Nigerian customers. The platform offers comprehensive financial services, including instant loans, bill payments, money transfers, micro-insurance, and investment options. Aella MFB has been empowering financial freedom in emerging markets for over 8 years, secured and licensed by CBN, with insured deposits by NDIC. The app targets individuals and small businesses seeking quick access to credit without traditional banking requirements, requiring only basic information, BVN, and a smartphone.
Key Features
Instant Loans
Quick and easy access to loans in 5mins with loan amounts ranging from ₦2,000 to ₦1,500,000
Bill Payments
Airtime, data, electricity bills, and transfers at no extra cost
Money Transfers
App-to-bank transfers across Nigeria
Micro-Insurance
Affordable healthcare plans through Aella Care
Investment Options
High-yield savings accounts and investment products
Credit Building
Credit score improvement through prompt repayments
Pros & Cons
Advantages
- No late fees or hidden charges
- Up to 60% interest cut on early repayment
- Loan approval and disbursement in 5 minutes
- No agency fees for bill payments
- CBN licensed and NDIC insured
Limitations
- High APR rates for some borrowers
- Limited to Nigerian market only
- Requires smartphone and BVN
- Customer service response time issues
- Limited loan tenure (max 12 months)
Security Features
Regulatory Compliance: Licensed by Central Bank of Nigeria (CBN) and deposits insured by NDIC
Data Protection: Committed to protecting Personally Identifiable Information (PII) with proper identity verification processes
Privacy Policy: Comprehensive privacy framework available at https://aellaapp.com/privacy-policy
Device Security: Secure app architecture with device-based verification
Financial Protection: NDIC deposit insurance coverage for customer funds
Pricing & Fees
| Service | Fee | Details |
|---|---|---|
| Instant Loans | APR: 22% - 264% per annum | Monthly interest: 1.5% - 22% |
| Loan Processing | No processing fee | No hidden or late fees |
| Early Repayment | Up to 60% discount | Available throughout loan tenure |
| Bill Payments | No agency/convenience fees | Airtime, data, electricity bills |
| Money Transfers | No fee within app | App transfers to any bank account |
| Account Maintenance | Zero maintenance fees | For savings accounts |
Getting Started
Detailed Ratings
Final Verdict
Aella Credit is quite legit and reputable, having established itself as a reliable player in the instant loan financial sector with a commitment to transparency and customer service. The platform excels in speed and convenience but carries higher interest rates typical of instant lending services.