NodCredit Loan App Review: the best loan apps in Nigeria

We review a lots of loan apps and financial products here, that’s what we do – we are a Fintech review blog. Most loan apps in Nigeria usually have one draw back or the other, but this one we can confidently say, NodCredit app is one of the best loan apps in Nigeria. From the design, to the user interface and customer service, and loan disbursement, this app is truly amazing.

What is NodCredit?

NodCredit is a licensed Money Lender that provides Nano loans to support low and middle income earners to meet urgent cash needs. The app uses artificial intelligence to analyze your bank records and validate your BVN to take lending decisions based on your credit score.

The loan is 100% online, with no collateral required and you can apply at anytime, any day of the week. The app does not require you to make any payments before getting a loan, computer AI collects and analyzes your data to determine how much loan you qualify for.

NodCredit offers both employed and self-employed, business persons and corporates quick loans starting from N10,000 to N50,000 for first time borrowers. Returning customers can access upto 300,000.

How to Apply for NodCredit loan?

To get a NodCredit loan, all you need to do is:

  • Download and install the NodCredit APP from Google play store or the iOS version if you’re on Apple. You can also apply online via
  • Register for an account using your 11 digit BVN number.
  • Add your card (N20 will be charged for card tokenization) and bank account details
  • Verify your identity and that the information you’ve entered is correct.
  • Get money sent directly to your Bank account.

How to repay your NodCredit loan

Each time you Repay on time, you get a higher credit limit up to ₦ 50,000.

Repay your loan online through the payment gateway in app or offline transfer to the company account. You’ll have to call to verify your payment after depositing off line.
You can pay in full or make partial payments anytime before due date.

Nodcredit loan app review

NodCredit interest rate

Expect The interest rate offered on your loan to be from 15% monthly flat rate. For multiple tenors accessible to returning customers we charge on reducing balance at lower interest.
Representative Example of the total cost of the Loan:
If your loan is for 3-months and your borrowed N150,000, if NodCredit charges you a returning customer interest rate of 10% per month on your reducing balance. You will pay;

  • 1st month: N65,000
  • 2nd month: N60,000
  • 3rd month: N55,000
    This is a gross interest rate of 20% and an equivalent monthly interest of 6.6% for each month on your fixed balance of 150,000.
    PS: Remember you can also pause the pause and defer payments for another month.

Note: expect both your loan amount and loan tenure to be significantly lower as individual interest rate, loan amount and loan tenure are calculated based on the applicant’s credit score and credit worthiness. Keep a good credit score and repay your loan on time to qualify for higher amounts. See how loan apps make lending decisions for first time borrowers and how to increase your loan limits.

Why Choose NodCredit

  • Pause Option: you can defer your repayment date for 30 days if you run into any financial difficulties. You can defer for as many times as possible.
  • Custom repayment schedule – unlike the other lenders, we allow you settle your loan in split payments, pay parts of your loan whenever you have it.

Get revolving credit limit

Revolving credit means NodCredit will borrow you a higher amount Everytime you repay your previous loans. You just have to pay back your loans on time to qualify

Is NodCredit legit?

Yes, NodCredit loan is legit. Nodens Nigeria Limited, the owners of Nodcredit is a registered state lender, with a state lending license 2019 (0000333), 2020 (0000483). A lot of customers have testified to receiving a loan from them. Read other customer’s reviews on Google play store. However, this app will call your contacts and embarrass you if you default on your loan.

When you download NodCredit, it will ask for your permission to scan your financial location data and other information in order to verify your identity, creditworthiness, and provide you with an instant loan. It also use this to help you better understand and improve your finances with us. The app takes privacy seriously – all data you choose to share is encrypted and your personal data will never be shared without your consent.

What will happen if I default on my loan?

Late loan repayments automatically incur a fee of 2% per day. It is therefore advised that one does not exceed the due date. Repay the loan by its due date allows you to access larger loan sizes. Late repayments will affect your ability to get subsequent or larger loans. If you are very late on your payments, they report to the First Central Credit Bureau. Blacklisting by the First Central Credit Bureau may affect your ability to borrow from other lenders.

Personal Loan Eligibility

In addition to the information noted below, you must also meet a Risk acceptance criteria to obtain a loan from Nodcredit.

  • You are a Nigerian Citizen
  • You are at least 18 years or older
  • You have proof of income as a salary earner or business owner.
  • Approval of your loan depends on a number of factors, such as, all documents required are uploaded, leverage ratio and disposable Income.
  • You have a Nigerian Bank account.
  • You are willing to provide your bank statement covering at least 3 months transaction history.
  • You have an identity card, work Identity gives you more points than a government issued identity card.
  • Interest rate is 15% flat monthly.
  • Interest rate is 15% flat monthly.
  • Tenor is 30 days.

How much can I borrow with NodCredit?

Nodcredit will offer you a loan range between N10000 to N300000. Monthly loan payments, interest rates, and loan terms will vary depending on your credit score.

NodCredit customer care number

For Loan Administration/Approval:
Call Lanre +234 701 812 2475
For Loan Recovery/repayments:
Call Tade +234 708 164 9832

  • Facebook:
  • Twitter:
  • Website:
  • Office Address:10a Iweanya Ugbogoh Crescent Lekki Phase I, Lagos. Nigeria.


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