Am I eligible for a loan?
Eligibility is based on your credit score and points.
Last updated June 18, 2026
Your loan eligibility is based on a credit-points system that reflects how you use Boldswitch. You build points through verification and responsible activity, and you become eligible once your points reach the qualifying threshold.
What affects your points
- Completing your account verification.
- Using the app regularly and responsibly.
- Repaying any past loans on time.
- Keeping your account in good standing.
A standard quick loan ranges from ₦5,000 to ₦100,000, runs for 60 days, and is charged 10% interest over the term.
Membership tiers
Your points (on a 0–1000 scale) also place you in a membership tier. These tiers are separate from KYC verification and unlock larger limits as you climb:
| Membership | Points | Free transfers/day | Overdraft up to | Direct loan up to |
|---|---|---|---|---|
| Starter | 0–100 | 0 | — | — |
| Elite | 100–300 | 2 | ₦100,000 | — |
| Gold | 300–700 | 3 | ₦200,000 | ₦2,000,000 |
| Diamond | 700–1000 | 5 | ₦500,000 | ₦5,000,000 |
Gold members can apply for direct loans up to ₦2,000,000, and Diamond members up to ₦5,000,000.
How to check
- Open the Loans tab.
- View your current credit score, points, and membership tier.
- See which loan products are available to you at that level.
The higher your points, the more loan products and larger amounts you can unlock.
Tip: If no products are available yet, finishing verification is the fastest way to start building points toward the qualifying threshold.
For ways to raise your score, see How to improve your eligibility. To finish verification, see Account verification.
Questions? Reach us at support@boldswitch.ng.