Kredi Bank Savings and Loans Review

Kredi Bank is a microfinance app offered by Kredimoney MFB Limited. It is an app designed as a one stop shop for all financial needs. The app also allows you to send money to other bank accounts, pay bills and buy airtime.

Kredi meets your banking needs, including savings and loans, at all times.

Be it as an individual or as a business, kredi has the right products to help you save and access loans at reasonable interest rate.

The app also grants you a virtual bank account which you can use to save money and receiv your loans into.


  • Account Opening: Opening a Kredi account can be done wherever you are and whenever you want. Simply select an account type and fill in your personal details. It’s easy peasy!
  • Save Money: Saving your money just got better. Simply log into your Kredi account, click the “start saving “button to start saving immediately for all your needs and goals.
  • Loans: Kredi provides small, short-term nano, SME, salary-backed, and collateral-backed loans to cushion your finances when you need it.
  • Fund Account: Send money and make direct deposits to other bank accounts. With your Kredi account, you enjoy secure transactions with just one click.
  • Transfer: Enjoy credible, convenient, and quick transfers. You can make transfers to Third Parties seamlessly and in no time. Start making your transfers!
  • Bill Payment: Reliable and secure way to settle your bills and fast payments. Just create an account to manage and pay your bills online with Kredi.
  • Airtime Top-up: Our airtime & data top-up service allows you to send mobile credit to any mobile network. You can buy instant airtime for family and friends where you want, when you want.

Kredi Bank Interest RATES AND FEES

Loan amount range from N5,000 to N500,000. However, you must be at least 21 years at your last birthday to be considered for a loan. The loan tenor can be between 60 to 180 days. Interest rates range from between 4.5% – 35% with an equivalent monthly interest of 5%- 29%. An APR of 29% to 120%.

A typical example is this:
If you choose to get a 6-month loan of N10,000, Kredi Bank charges an interest rate of 5% per month which would amount to 30% for the tenor. We would charge you N3,000 as the interest of the 6-month period so that your total repayment is N13,000.

This interest rate and tenure is just an example, expect your actual loan to have a much shorter tenure. But you can increase your tenure and loan amount by making your full repayments on time. Defaulting will affect your credit score negatively.

Kredi Bank usually require no collateral, guarantors, or documents. However, for loans beyond certain amounts, they may require additional documentation.

Is Kredi Bank legit or scam?

Kredi Bank is legit and does give out loans. It is still relatively new with just about 10k downloads so far, but on average users who have used the app give positive reviews.

What Kredi Bank can improve

The app still contains some bugs which prevent users during registration, the date of birth field during registration is not functioning for some users.

Loan rejection rate is also high, you might labour and submit all your details only to be denied a loan. To increase your chances of getting a loan, continue using the app to pay bills and save.


When processing your loan request for eligibility, they look at several signals, such as your credit score, past loan performance, etc. They require that loan applications be filled with the correct information as any falsification could delay your loan request, or your profile may be blacklisted. For cases of fraud, you may be reported to the authorities.

Kredi Bank customer service CONTACT

If you have any feedback, questions, or concerns, please contact [email protected] or call +234 1 888 5557.


A writer! Columnist and an academic researcher
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