Rocket Loan Plus is one of the many digital lending platforms popping up in Nigeria’s fintech space. It promises fast, secure loans of up to ₦300,000 with minimal hassle and no collateral—targeted especially at those in need of personal or payday loans. But as with many loan apps in the country, flashy promises don’t always match reality.
In this review, we take a hard look at Rocket Loan Plus, breaking down its loan terms, app experience, and real user feedback to help you decide if it’s worth your trust—or your time.
Key Loan Features of Rocket Loan Plus
- Loan Amount: ₦20,000 – ₦300,000
- Loan Tenure: 91 to 365 days
- Annual Interest Rate (APR): Max 24%
- Daily Interest Rate: 0.0658%
- Service Fee: 0%
- Collateral Required: None
Rocket Loan Plus claims there are no hidden fees, and the interest structure is relatively moderate compared to many competitors. For example:
Loan Example:
- Loan: ₦30,000
- Tenure: 120 days
- APR: 24%
- Total Repayment: ₦32,368.80
- Monthly Payment: ₦8,092.20
These terms seem reasonable on paper. But does the experience hold up?
How to Apply for a Rocket Loan Plus Loan
- Download the app from the Play Store.
- Register with your phone number.
- Complete your profile and input basic personal and financial details.
- Submit a loan application.
- Wait for approval and disbursement notification.
You must be:
- A Nigerian resident
- Between 20–65 years old
- In possession of a valid ID card
Promised Benefits
- Quick Registration and Approval: Claim of simple registration and near-instant loan decisions.
- Privacy and Security: Claims of “high-level data encryption” and no unauthorized data sharing.
- Transparent Terms: Interest rates and repayment schedules are presented as fixed, with no extra charges.
But real-world user experience tells a different story.
User Reviews: A Mixed and Mostly Negative Bag
To understand how Rocket Loan Plus really performs, we analyzed user reviews posted from late 2024 to early 2025.
Positive Experiences (Rare but Noted)
Olusola Ifeoluwa (Feb 28, 2025):
“It’s so easy to operate. Customer service is top-notch. I recommend this app for anyone in need of urgent money without stress.”
Some users do report success with the interface and loan approval. However, this is the exception rather than the rule.
Common Complaints & Red Flags
1. Disbursement Delays or Failures
Olaniyi Taiwo (Jan 15, 2025):
“Received SMS saying loan approved, but nothing has been disbursed. Still waiting.”
Oke Oluwaseyi (Jan 15, 2025):
“Easy to use app, but money not received. Will update rating once disbursed.”
Users frequently report being approved but never receiving the funds. Often, they’re notified by SMS but then face app errors or delays.
2. App Glitches and Technical Failures
Avour Somtochukwu Chibuzor (Mar 20, 2025):
“System error keeps showing after everything is filled. Yet they still send approval messages.”
Nasir John (Dec 4, 2024):
“App is fraudulent. Requested ₦22,000, approved, but only ₦6,800 sent. No way to contact them. Email bounced.”
Several users mention consistent bugs, system errors, and disbursement of incorrect amounts. These technical problems are a big concern for an app that handles sensitive financial data.
3. High Interest and Unexpected Charges
Thomson Stanleyville (Mar 24, 2025):
“Interest rate is too high, and approved loan amount is too low.”
Even though Rocket Loan Plus claims a max APR of 24%, some users feel the real cost is higher or the loan amount too small to be useful.
4. Poor or Non-Existent Customer Support
Nsisong John (Dec 4, 2024):
“Email bounced. No contact number. No way to resolve disbursement issue.”
Contact is limited to an email (rocketloan074@gmail.com), which multiple users report as inactive or unresponsive. No phone number is available, and there’s no in-app support chat. For a financial service, that’s a huge red flag.
Rocket Loan Plus Contact Information Number
- Email: rocketloan074@gmail.com
- Number: 08122344405
- Address: 86 Yaya Cres, Ajeromi-Ifelodun 102241, Lagos, Nigeria
Unfortunately, there’s no website, phone number, or evidence of regulatory licensing provided—raising transparency concerns.
Pros and Cons
Pros:
- Low advertised interest rates (max 24% APR)
- Simple application process
- No service or hidden fees (claimed)
- No collateral required
Cons:
- Frequent disbursement issues
- App system errors and approval inconsistencies
- Disbursed amount may not match approved loan
- Non-functional or unresponsive customer service
- No phone support or visible regulatory oversight
Is Rocket Loan Plus Legit?
While it presents itself as secure and user-friendly, Rocket Loan Plus lacks transparency. There’s no clear evidence of registration with the FCCPC or CBN, and critical contact tools like a working support line or website are missing.
Based on user feedback, technical issues and customer support failures overshadow its low-interest selling point.
Should You Use Rocket Loan Plus?
You might consider it if:
- You understand the risks and are willing to try a small loan
- You can accept potential delays or technical hiccups
Avoid it if:
- You need urgent or guaranteed funds
- You value strong customer support
- You want clarity and consistency in your loan terms
Better Alternatives to Rocket Loan Plus
If you’re looking for more reliable loan options with better user satisfaction and clear customer service, try:
- Carbon – Widely trusted, licensed, and transparent
- FairMoney – Well-rated app with quick disbursement
- Branch – Global brand with consistent service
Final Verdict
Rocket Loan Plus has some decent marketing claims, but the user experience doesn’t hold up. From technical bugs to lack of customer support, it’s a risky choice. With so many more reliable loan apps in Nigeria, this one is hard to recommend.
Final Rating: 2/5 – Promises more than it delivers. Proceed with caution.
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