Renmoney Loan App Review – Fintech and financial services made easy

The Renmoney app is more than just a loan app, it gives you instant and quick access to savings and investments opportunities with competitive interest rates.

The Renmoney app is everything a money concious person would love. It doesn’t stop there, its designers are constantly evolving and adding more interesting features to this fintech tool.

The personal and business loans offered by Renmoney is one of its main features.
You can get a quick loan on the Renmoney app in just a few steps. The loans are for employed or self-employed people as well as business owners. So, if you need an instant personal or business loan, you can borrow from ₦6,000 to ₦6,000,000 and repay in 3 to 24 months.

How to get a loan from Renmoney?

Getting a Renmoney loan can be done easily online by:

  • Download and install the Renmoney mobile app from Google play store or Apple store if you’re on iOS.
  • Share some information about yourself, including your employment, ID card, BVN number etc
  • Verify the information you have provided
  • Get money in your bank account once you’re approved. The whole process should not take more than 10 minutes.
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RENMONEY INTEREST RATE AND LOAN REPAYMENT

Monthly interest rates range from 2.4% – 9.33% and the maximum Annual Percentage Rate (APR) is 35.76%. No other fees are charged.
example:
Loan Amount: ₦2,000,000
Loan Tenure: 12 months.
Number of Repayments: 12
Monthly Interest Rate: 2.4%
Monthly repayments: ₦214,667.00
Total amount payable: ₦2,576,000.00
APR: 28.8%.
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.

What you get with a Renmoney loan

  • Fast and convenient loans from ₦6k to ₦6m
  • Flexible repayments from 3 – 24 months
  • Money in your bank account in minutes
  • Lower rates and longer tenure on your next loan
  • No paperwork
  • No collateral or guarantor needed
  • No hidden charges – you always see your loan terms before you commit
  • We keep it simple, no confusing language
  • Support team always available to help
  • Secure processes

Renmoney savings account

Because the Renmoney app functions like a mini bank in your pocket, you can also set up a Smart Goal and save towards milestones that matter to you or set up a Save Easy plan and save what’s convenient. Whatever plan you choose, you’ll earn attractive interest on your money.

Renmoney investment

Make your money work for you with a Renmoney Fixed deposit account. Invest your money for a fixed duration and earn attractive interest.

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What you get with Renmoney Savings and Fixed Deposit

  • Earn up to 12% interest per annum
  • Save and invest securely and on your own terms
  • Build a savings habit
  • Set up automatic periodic savings

Is Renmoney legit?


Yes, Renmoney is legit. There are no scam complaints on their Google play store reviews. Renmoney is a Lagos based fintech lending company operating under a Microfinance Bank license. They are fully regulated by the Central Bank of Nigeria (CBN), and your savings and deposits are insured by the Nigeria Deposit Insurance Corporation (NDIC).

Customers information security and privacy

Note that The Renmoney app uses artificial intelligence to collect and analyse your financial records to determine your credit worthiness. When you download the Renmoney App, they will ask for your permission to verify your personal and financial information, including SMS and contact list.

Renmoney customer care number and contact

If you have any issue with any of their services, you can reach out to them via:
Email: [email protected]
Call: 0700 5000 500
Visit: www.renmoney.com
Like on Facebook: https://web.facebook.com/renmoney
Follow on Instagram: https://www.instagram.com/
Follow on Twitter: https://twitter.com/home
Follow on Medium: medium.com/@renmoney

Visit any of Renmoney office addresses

  • Ikoyi: 23, Awolowo Road Ikoyi, Lagos, Nigeria
  • Opebi: Pentagon Plaza, 23 Opebi Road, Ikeja, Lagos, Nigeria
  • Surulere: Kings Plaza, 80, Adeniran Ogunsanya Street, Surulere, Lagos, Nigeria

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