An applicant can avail LinkCredit Loans purely based on his or her credit scores. The applicant can even get the recommendations on the size of the personal loan available and the possible loan repayment options based on the credit score. This is to make sure that the loan is affordable for the borrower. LinkCredit Loans Personal Loan is very easy to avail and provides you with great features like easy documentation and quick disbursal of the loans to ensure that you have access to funds whenever you require it.

How to download APK and apply for LinkCredit Loans?

Here is the easy process to avail of LinkCredit Loans. 

• Step 1: Download the LinkCredit Loans app from the Play store.
• Step 2: Register your account.
• Step 3: Once the mobile number is verified, fill in the personal details.
• Step 4: Upload a photograph of your NIN slip and enter the details.
• Step 5: Add details like the residential address, education, work experience, current employment, and salary.
• Step 6: Upload your bank statement.
• Step 7: Once the bank statements uploaded and verified, you can apply for the loan.
• Step 8: Choose the loan amount you can afford to pay monthly, the quantum of loan you require, the desired repayment tenure, and your loan purpose.
• Step 9: Upload the photo.
• Step 10: Upload the latest salary slips and proof of the residential address in PDF format.
• Step 11: Share the contact details of two references (one family and one friend).
• Step 12: The loan application is now complete and will be processed within 2 working days once approved.

Eligibility Criteria for LinkCredit Loans

The eligibility criteria for availing LinkCredit Loans may vary based on the applicant profile. Here are the generic criteria in which an applicant has to stand on to acquire LinkCredit Loans:

• Salaried applicants should be between 21 to 60 years of age.
• Employed for a minimum period of 3 months in the current job and have previous working experience also.
• Having a net monthly salary/income of NGN 12,000.

LinkCredit Loans- Features and Benefits

• LinkCredit Loans provides loan amount directly in the borrower’s bank account.
• The transferred loan amount can be used anywhere for any purpose.
• Top-up loan available after repayment of 50% of the current loan 
• Its process hardly takes few minutes depends on the information.
• LinkCredit Loans is a platform where a borrower can get a loan from NGN 2500 to NGN 50,000.
• A borrower has an option to choose any personal loan as per the requirement.
• LinkCredit Loans also offers a range of repayment tenures up to 4 months.
• An applicant can get a small number of loans for a short period as per his/her requirement.

LinkCredit Loans – Customer Care

LinkCredit Loans’ customer support team strives to assist you. In case of any query or complain you can call them on E-mail us at contact@linkcredit.ng

WhatsApp customer number: +234 7042855407

Website: https://www.linkcredit.ng

Email: contact@linkcredit.ng

Privacy policy: http://www.linkcredit.ng/html/web/privacy/index.html

What other borrowers are saying about LinkCredit loan

This is the worst credit lending institution I have seen so far! I applied for extension and charged 3k for 8 days yet they keep calling and threatening me to pay. I paid 7,023 all together for the extension but I think out of 7,023, 3k is the actual fee for extension. Initially, the total repayment was 16k but it's now 13k after paying 7,023. If the extension didn't work, they could have told me. And if it didn't work then my balance is supposed to be 9k not 13k as showing on the app.

– Okwo Ojobo

This is the worst app. I had issues repaying my loan cos of app error amd i was reported to the credit bureau. Despite that i have paid with the accumulated interest. All efort to reach them via mail or contact number provided proved abortive. I need a letter of Non indebtesness and no where to contact this people. They are quick to report you to credit bureau for their error and no way to reach them for correction..this is bad and fruadulent.

– Oyetunbi Fagbenro

Firstly, it’s easily accessible and very convenient. Also, it’s fast and the rate is quite reasonable, getting a loan was made very easy, and the repayment is made easy. I’ll definitely preach it’s gospel.

– Bakare Daniel

My experience so far has been great. The high interest rate with just seven days duration can be annoying sha. Please change that WhatsApp number if you won’t respond to customer’s complaint… it isn’t useful. Thumbs up to Customers Service, at least they pick and respond professionally when I call.

– Owoeye Kayode

FAQs

Is linkcredit loan legit?

Yes, Linkcredit loans are legit in that the app gives short term loans to customers. Online loan apps in Nigeria are not regulated, you are responsible for your own safety when you use these apps.

If my loan gets rejected, can I apply again?

Yes, you can apply again after you cleared all outstanding loans with other lenders.

What is the interest rate?

Linkcredit interest rate starts from 1.25% – 2% monthly flat. The exact interest rate applicable to the customer depends on the credit score and will be communicated after credit decisions.

Conclusion

Pros and Cons of LinkCredit loan app:

Pros:

• Quick and easy application process
• Convenient online platform
• Flexible repayment terms
• Competitive interest rates
• Registered and regulated financial institution

Cons:

• High interest rates
• Limited loan amounts
• Strict eligibility criteria
• Potential for late payment fees

Overall, LinkCredit loan app is a good option for Nigerians who need a quick and easy way to access personal loans. However, it is important to be aware of the high interest rates and limited loan amounts before applying.

Here are some alternatives to LinkCredit loan app:

• Branch
• FairMoney
• Palmcredit
• Carbon
• Okash
• Aella Credit
• QuickCheck
• Umba

These apps offer similar services to LinkCredit, but they may have different interest rates, repayment terms, and eligibility criteria. It is important to compare different apps before choosing one.

The post LinkCredit Loan App: 2023 Review appeared first on AFRICA EXPLAINED.

YES! WE KNOW!

Calm down to read this comprehensive review about KashCash so that you won’t later enter WAHALA! (problem)

They offer quick and hassle-free access to short-term unsecured personal loans of up to NGN100,000.

With competitive interest rates starting from as low as 4% per day (equivalent to 24% to 56% per month), Kashcash ensures affordability and flexibility for its borrowers.

Whether you need financial assistance for unexpected expenses, medical bills, or other urgent needs, Kashcash is here to help.

Furthermore, the repayment tenure provided by Kashcash ranges from 7 days to 30 days, allowing borrowers to choose a suitable timeframe that aligns with their financial capabilities.

This flexibility ensures that borrowers can comfortably repay their loans without undue stress.

The application process is simple and user-friendly. Through the Kashcash mobile app, you can easily apply for a loan and receive the funds within minutes.

This streamlined digitized process eliminates the need for lengthy paperwork and reduces the waiting time associated with traditional loan applications.

Kashcash is committed to providing efficient and reliable financial solutions to individuals across Nigeria. With its transparent and customer-centric approach, Kashcash aims to empower individuals with access to quick and convenient loans to meet their immediate financial needs.

Experience the ease and convenience of Kashcash loan app today!

Kashcash details

How to Apply for Kashcash Loan?

You can download the Kashcash loan app from Google Play Store. You will have to register to create an account and login to kashcash to check the eligibility to apply for the loan. You will be required to provide some basic details as given below:

• Name and address
• Mobile number
• Email ID
• Employment status
• Monthly income
• City of location
• Any other information, as required in the loan application, has to be provided.
• The details of the bank account have to be provided to disburse the loan amount.
• Before the disbursement, you will also be required to agree to the terms and conditions of Kashcash on the Mobile App.
• The loan application will be processed, and on approval and affixing e-signature on the loan document through the App, the amount will be credited directly to your bank account.

Kashcash Personal Loan Eligibility Criteria

The following are the Kashcash personal loan eligibility criteria:

• Easily available personal loan for salaried or self-employed
• A regular source of income is mandatory.
• The applicant should be in the age group of  18 to 56 years.
• The applicant should be a resident Nigerian.
• The applicant should have a valid BVN and Address Proof.

What other borrowers are saying about Kashcash loan app

This is a scam app, their loan 100% interest rate. Just to click on it to see loan options. i got an alert, with 100% interest rate. I have paid the money i they paid into my account. I’m not paying any interest, they’re scammers.

– Ray Lawson

This app belongs to scammers. If you make the mistake of downloading and installing the app, as soon as you complete registration and attach your credit card, they will offer you a loan instantly. It is a bait. Even when you did not want the loan, they will send to your bank account without your consent . Only for you to discover that what they sent is half the loan they approve. After paying them 31,000 for a loan of 19,000, they deducted 15,000 from my card. They don’t pick their number.

– Jibril Musa

I have tried every possible means to reach out to the management of this app, all to no avail. Take this as official compliant, since you will neither pick or respond to my message to you support email. I was on the process of registering for loan before you quickly and automatically subscribe a loan of ₦7,000 for me, transferred ₦4550 to my account and requested that I pay back ₦7,330+, where does that happen. This is fraudulent. Get back as soon as possible.

– Ikechukwu Splash Osuchukwu 

Is Kashcash loan app Legit?

Kashcash loan app is legit in that it gives people loans. Loan apps in Nigeria provide short term loans at extortionate interest rates. Do not take an online loan to fund your lifestyle, they should only be used for emergencies.

Kashcash is not registered or regulated by the CBN, you are responsible for your own safety when you use this app to get a loan.

Kashcash Customer Care 

Service Email: support@kashcash.loan or call 018883539
Office Address: 36, Yaya Abatan Rd, Ogba 101232, Ikeja, Lagos

Conclusion

So, now the ball is in your court.

Let me know what you think about the Kashcash loan app.

The post Kashcash loan app: A comprehensive review appeared first on AFRICA EXPLAINED.

QuickCheck is a Nigerian Fintech app that offers customer’s quick loans of between N1,500 to N500,000 without requiring any collateral. The app using artificial intelligence, collects and analyzes your data including credit score, SMS alerts, contacts and other banking details to disburse your cash loan in less than just 1 hour if you qualify for one.

One major advantage of QuickCheck loan app is that it offers competitive loan rates starting from 5% per month rate. The app’s sleek design and easy to use interface is also worth mentioning. Do you need quick cash for school fees? then this is the perfect app for you.

How to download and apply for a QuickCheck loan

QuickCheck is a completely digital platform, which operates exclusively on Android smartphones. To sign up, you’ll need to download and install the app from the Google play store.

1. Download and install the QuickCheck loan app on Google playstore.
2. Register with your mobile number, preferably the one connect to your BVN
3. Fill-out your bio data and provide some basic information about yourself.
4. You will also be required to bind your ATM card to your account as a means of repayment.
5. Your application will be analyzed by an Algorithm and a loan offer will be made to you
6. If the loan offer and repayment period is acceptable by you, cash will be disbursed to your account within 30 minutes.

QuickCheck loan app interest rate

A QuickCheck loan has interest rates starting from as low as 5% monthly on the first loan. Loans range from ₦1,500 to ₦500k with terms from 91 days – 1 year. Interest ranges from 2% – 30%, with an equivalent monthly interest rate of 1 – 21%. (APRs from 30% to 260%)

Example:
– Borrow ₦100,000 over 6 months
– Interest rate: 13% p.m. (fixed)
– Three repayments of ₦ 25,000
– Total amount payable: ₦150,000
– Representative: 13% APR

Note that: the interest rate and loan amount for first time borrowers will be significantly lower than this, but you get a revolving loan every time you repay. This means you can build your credit score and get a higher loan amount by repaying your loan on time.

What QuickCheck loan app can improve?

Over all QuickCheck is one f the best loan apps in Nigeria, but a few negatives can still be noticed from the app;

First, the app has lots of bugs, customers have complained of not being able to login sometimes. When this happens to you you should retry multiple times.

The loan rejection rate is also a bit high, some customers say they get disapproved even after first getting approved for a loan. To improve your chances of getting a loan offer;

1. keep good records of your bank transactions on your phone as the algorithm will use it to build your credit score.
2. make sure you don’t have outstanding debts with other lenders.
3. if your application is rejected, you should keep retrying at a later date.

Is QuickCheck Loan app legit?

Yes, Quickcheck is very legit. it is one of the best money lender apps in Nigeria. Read other customer’s review on playstore before you proceed.

QuickCheck loan app customer care number

To get in touch, send an email to Support@quickcheck.ng. You can also reach-out via the social media pages: @quickcheckng on Instagram and Twitter, QuickCheck Nigeria on LinkedIn, and QuickCheck on Facebook.
You can also visit the website – www.quickcheck.ng.

FAQ

What is my minimum/maximum loan request limit?

₦1,500 – ₦500,000

What is my minimum/maximum tenor on QuickCheck?

1 month – 1 year

What is the interest rate on QuickCheck loan?

5% on a first time basis. Generally, the interest rates on a QuickCheck loan ranges from 2% – 30% per annum.

How do I repay a QuickCheck loan?

There are 3 ways:

1. While registering, you’d have been required to enter your debit card details – the one belonging to the bank account you submitted. Repayments and installments into your QuickCheck wallet will be deducted from the account via your debit card.

2. Besides, you can use your bank’s USSD code too.
3. You can also payback via Bank Transfer or Cash deposit.

Incase of any issue, how can I contact QuickCheck customer care?

You can pay a visit to their head office located at 23, Agodogba Avenue, park view Estate, Ikoyi, Lagos, Nigeria. You can also shoot them an email on support@quickcheck.ng

What is the QuickCheck website?

quickcheck.ng

Why is my LCredit loan application rejected?
Your application will be rejected if you provide false information about yourself of you have a bad credit score, meaning you have outstanding loans from other lenders that you are yet to repay.

The post QuickCheck Loan App Review – Instant loans in Nigeria appeared first on AFRICA EXPLAINED.

OKash is a Nigerian Money Lender that provides secure and easy short-term cash loans for both personal and business use to meet urgent cash needs. OKash is owned by Blue Ridge Microfinance Bank Limited. The app fulfills customers’ financial needs 7*24 completely online. The application process takes just a few steps with minimal documentation and the approved loan amount is transferred to the applicant’s bank account.

The app uses AI 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.

How to Apply for OKash loan?

• Download the SwiftKash personal Loan App exclusively available on the Google Playstore and install it on your Android phone.
• Register an account with your phone number.
• Preferably the phone number connected to your BVN as a one time password will be sent to it for verification.
• Fill in your basic Know-your-customer KYC information, including your residential address, next of kin and employment details
• You will also be required to provide your Biometric verification number BVN.
• You’ll be charged N30 to bind your ATM card to your account to increase your chances and get a higher loan amount.
• A one-time password OTP will be sent to your phone to confirm your details.
• After the submission of your loan application, the software will analyze your credit score and the final result will be shown in the APP.
• The result should be displayed in less than two minutes and if you qualify for a loan, the loan amount will be disbursed into the bank account directly.

Make sure you’re using a good phone with enough memory space as you will be required to take a clear live selfie for identity.

The N30 charged to bind your ATM card to your account is refundable, but can take anywhere from 7 to 12 business days for the money to be refunded back to your bank account.

Your BVN is linked to your credit score, so if you have an outstanding loan with other lenders or didn’t pay other lenders as at when due, expect your application to be rejected.

Note that online loan apps are not licensed or regulated by any government agency in Nigeria, you are responsible for your own safety while taking a loan from them as there is no way to make complain about poor service.

OKash interest rate?

The interest rate charged by OKash is between 0.1% up to 1% daily. With Origination Fee Range from NGN 1,229 – NGN 6,000 for a one-time charge

For example, 91-day loan payment terms have a processing fee of 41% and an interest of 9.1%. For the loan processed with a principal amount of NGN 3,000, the processing fee would be NGN 1,229, the interest would be NGN 273, the total amount due would be NGN 4,502.The total amount due in the first month would be N1,512, the processing fee would be N419, the interest would be N93, the total amount due in the second month would be N1,495, the processing fee would be N405, the interest would be N90, the total amount due in the third month would be N1,495, the processing fee would be N405, the interest would be N90.

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 decisionsSee how loan cisions for first time borrowers and how to increase your loan limits.

Is OKash legit?

Yes, Okash loan is legit and secure. The app is owned by BlueRidge Microfinance limited and uses European level encryption to secure its transactions. A lot of customers have testified to receiving a loan from them. Read other customer’s Review on Google play store.

When you download OKash, 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 OKash can improve.

OKash app is a great loan app and offer fantastic customer care services compared to other loan apps in Nigeria.

However, a lots of customers have complained about their high interest rates, especially for first time borrowers.

Others have also complained about a bug that causes the app to malfunction in its recent update. If you’re experiencing these malfunctions, contact customer service.

what borrowers are saying about Okash loan app

Okash offers high interest loans, but borrowers have mixed experiences with the lender. Reviewers mentioned the easy application process and professionalism of the lender’s customer care service throughout the borrowing process.

James Martins wrote, “Prompt payment, easy registration and loan application is simple. Payback is also easy and sometimes, you get stages of payment cleared when you meet up with the deadlines of previous stages. My disgust and the major reason for uninstallimg was the rudeness of the customer service agents.”

 Danny Dan wrote, “Credibility is at its lowest. You will not get a refund if you mistakenly transfered or pay more than what you owe. Ive experienced it twice(2nd time was deliberate). I expected to see the overpay on my dashboard but wait a minute, unlike fairmoney and other loan apps, they don’t even have a wallet ..”

Oladimeji Rabiu wrote, “The app is good, but they really need to work on two things, first the disbursement takes too long, and secondly, I tried repaying my loan but it doesn’t reflect on the app whereas my account has been debited. They need to work on this two things.”

Aluko Temitope wrote, “I seriously dont know why all of a sudden my credit limit will drop from a high rate to the nearest minimum all in the name of system error. I have being building my credit record for a long time now and always make sure I repay even before due date. I have never defaulted. Now my credit limit was just reduced due to system error. Please kindly fix this, because it’s not encouraging at all. Please kindly fix this.”

Please do not take an Okash loan to fund your lifestyle or service long-term debts. Short-term loans are helpful in emergencies but can be quite expensive when compared to long-term loans and should be used with care.

Personal Loan Eligibility

• You are a Nigerian Citizen
• You are at least 18 years or older
• 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 source of income
• You have a Nigerian Bank account.

How much can I borrow with OKash?

OKash will offer you a loan range between N3000 to N500000. Monthly loan payments, interest rates, and loan terms will vary depending on your credit score.

OKash customer care number

Customer Service Email: support@o-kash.com
Customer Service Hotline: （+234）08097755512，08097755514
Office Address: Room 301, Japaul House, Plot 8 Dr. Nurudeen Olowopopo Way, Central Business District, Ikeja, Lagos, Nigeria

The post OKash Loan App Review: how to get Instant loan in Nigeria appeared first on AFRICA EXPLAINED.

This loan app is relatively new and has so far gained over 50k downloads on the Google play store with mixed reviews. It uses loan software to collect prospective customers’ information including phone records, banking transaction alerts, and BVN to build each borrower’s credit score.

Because of their minimal documentation and no collateral requirement, online loans are very expensive with high-interest rates. They should not be taken to fund one’s lifestyle but rather should only be used for emergency needs.

How to Download APK and get a loan from Okilo Cash loan app

• Download and install the Okilo Cash personal Loan App exclusively available on the Google Play store on your Android phone.
• Register an account with your phone number.
• Preferably the phone number connected to your BVN as a one time password will be sent to it for verification.
• Fill in your basic Know-your-customer KYC information, including your residential address, next of kin and employment details
• You will also be required to provide your Biometric verification number BVN.
• You’ll be charged N30 to bind your ATM card to your account to increase your chances and get a higher loan amount.
• A one-time password OTP will be sent to your phone to confirm your details.
• After the submission of your loan application, the software will analyze your credit score and the final result will be shown in the APP.
• The result should be displayed in less than two minutes and if you qualify for a loan, the loan amount will be disbursed into the bank account directly.
• Make sure you’re using a good phone with enough memory space as you will be required to take a clear live selfie for identity.

The N30 charged to bind your ATM card to your account is refundable, but can take anywhere from 7 to 12 business days for the money to be refunded back to your bank account.

Your BVN is linked to your credit score, so if you have an outstanding loan with other lenders or didn’t pay other lenders as at when due, expect your application to be rejected.

Note that online loan apps are not licensed or regulated by any government agency in Nigeria, you are responsible for your own safety while taking a loan from them as there is no way to make complain about poor service.

What other borrowers are saying about Okilo Cash loan app

These reviews are from users on Google play store.

Gyang Lo-Jugu wrote, “This app is nothing but a loan shark app, how can you tell me You’re giving me 10k but it’s N5500 that is the actual amount I get in my account with all the rest you deduct as charges? and I’ll repay upto 11k? These people are disgustingly dishonest, don’t get a loan from them cos they’re thieves. I gave them 5 stars cos they they own 5 stars in stealing, nonsense.”

Oyakhire Jimoh wrote, “what you apply for is not what you are credited and after crediting they give over 50% interest Scam.”

Note that online loan apps are not registered or regulated by any government agency in Nigeria. You are responsible for your own safety and security should you decide to patronize them. Most of them have very high interest rates and hidden charges on short term loans. Their repayment period is usually just 7 days.

What are the requirements?

• Be a legal citizen or legal Resident of Nigeria
• Be at least 18 years old.
• Have a Monthly income source.
• Bind your ATM card to your account
• Provide details of two of your next of kins including their phone numbers.
• Have a good credit score with no outstanding loans from other lenders.
• Have an active bank account.
• Your phone number must be the one connected to your BVN.
• Have a valid government issued ID card.

Interest rate

Loans range from ₦10,000 to ₦350,000 and the permissible age limit to apply is 21 years. The loan term can be between 90 to 360 days.
Interest Annual Percentage Rate(APR) range from between 5% – 25%.

For example: amount of ₦30000 with a limit of 120 days. Interest rate of 25% / year
• The monthly payment is: ₦ 8125
• The amount of interest for the entire loan is: ₦ 2500
• The processing fee charged is: ₦ 0
• The total payment is: ₦ 32500
• EIR is: 2.08%

.

For Example
If you choose a loan limit of ₦ 6,000.00 with a period of 360 days
The total interest must be paid: ₦ 6000.00 * 0.05% * 360 = ₦ 1080, monthly interest shall be paid: ₦ 6000.00 * 0.05% * 30 =₦90, monthly repayment bill including principle and interest shall be paid: ₦ 6000/12 + ₦ 90= ₦ 590, total repayment bill including principle and interest shall be paid: ₦ 6000.00 + ₦ 1080 =₦ 7080.

Note that this interest rate is just an example, your actual interest rate on the app will depend on your credit score and how much information the app can get from your device. Keep banking SMS records on your phone to increase your chances of getting a higher loan amount.

Okilo Cash loan app customer service number

Harago Financial Services Pvt Ltd
Email: OkiloCash2022@outlook.com
Tel: +234 08084948272
Address：7 Jesudola Street Lagos Adamo Town, Lagos, Federal Republic of Nigeria

The post Okilo Cash Loan App Review: quick online loan app in Nigeria appeared first on AFRICA EXPLAINED.

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

The app is a part of the new crop fintech apps that helps Nigerians manage and improve their finances by providing employed or self-employed people as well as business owners with a loan of up to ₦6,000,000 to be repaid in 3 to 24 months.

Renmoney is fully licensed by the CBN as a microfinance fintech, deposits in its high-yield fixed-deposit account are also insured by the NDIC.

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 the 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.
• Only applicants with a verifiable source of income will be considered for the loan.

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 is a microfinance fintech, 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. Their high-yield fixed-deposit account offers up to a 10% interest rate per annum that can be calculated upfront before making a deposit.

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.

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: hello@renmoney.com
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

FAQs

The post Renmoney Loan App Review – Fintech and financial services made easy appeared first on AFRICA EXPLAINED.

CashRain is a new personal loan app on Google playstore that gives Nigerian collateral-free loans to meet emergency financial needs.

The app has over 10k downloads in its first month of release. A lots of Nigerians are really into these loan apps despite the risks associated with using them and the poor service most of them offer.

RainCash uses Artificial Intelligence AI to analyze prospective customers financial records, including the bank transaction SMS on their phones and their credit worthiness from other lenders. To qualify for a loan and get a high loan amount always keep your bank transaction records on your phone.

How to Download and Apply for CashRain loan

1. Download the CashRain App exclusively available on the Google Playstore and install on your Android phone.
2. Register an account with your phone number.
3. Fill in basic information, including your residential address, next of kin and employment details
4. You will also be required to provide your Biometric verification number BVN and bind your ATM card to your account as a means of repayment.
5. After the submission of your loan application, the algorithm will analyze your credit score and the final result will be shown in the APP.
6. If approved, the loan amount will be disbursed into the bank account directly.
7. The whole process should ideally take less than 5 minutes from application to loan disbursement.

What are the requirements?

1. Be a Nigerian citizen or legal Resident.
2. Be between the age of 22 years old.
3. Have a Monthly income source.
4. Bind your ATM card to your account
5. Provide details of two of your next of kins including their phone numbers.
6. Have a good credit score with no outstanding loans from other lenders.
7. Have an active Nigerian bank account.

CashRain loan app interest rate?

Loan term: from 3 months to 1 year.
2.Loan amount: from 8,000 to 100,000.
3.Loan interest rate: from 4.5% to 34%, with monthly interest rates of 3% to 29% and
4.Annual interest rates from 29% to 365%.

Examples:
1.Loan term: 3 months.
2.Loan amount: 100,000.
3.Monthly interest rate = 100,000*3%=3,000.
4.Total interest = (100,000 * 3%) * 3 = 9,000.
5.Principal repayment : 100,000
6.Total repayment amount = 100,000 + (100,0003%)3 = 109,000.

This interest is just as an example, expect your loan amount and period to be significantly lower if you’re borrowing for the first time. You can increase your amount by keeping good records and paying back loan on time.

Is CashRain loan app legit?

Yes, CashRain Loan app is legit and does give out loans to customers but with extremely high interest rates most especially for first time borrowers. Read other customer’s reviews on play store before you apply for a loan.

You should know that these loan apps are not registered and regulated by the CBN or any government agency in Nigeria. You are responsible for the security of your transactions with them and there is no way to seek redress for poor customer service.

Security
Loan application process is absolutely secure and safe. CashRain promises never to share customer’s information with anyone without consent.

What CashRain loan app can improve?

The app contains bugs which debits customers multiple times while trying to bind their ATM card to their account.

Some customers have complained of not getting a higher loan amount even after repaying their previous loans on time.

This app has lots of hidden charges and high interest rate for new customers. For example, a customer might be approved to receive a loan of N10k, only N6k might be disbursed to there account with the balance charged as interests or other app charges. Watch out for these hidden charges before accepting a loan.

CashRain loan app customer service number

Email:service@cashrain.ng
Address:17 Ikorodu Rd, Igbobi 10146, Lagos, Nigeria

The post CashRain Loan App Review: instant personal loans in Nigeria appeared first on AFRICA EXPLAINED.

Naira Hub describes itself on Google play store as a quick online loan app.

It says if you you downloan the APP and register an account, you can get a loan between NGN 20,000~~NGN 300,000.

The app further gives details of it’s loan as follows:

Loan Amount: ₦20,000 ~ ₦300,000
Loan Term: the shortest is 91 days, the longest is 365 days
Loan interest: It depends on the customer’s risk profile and loan period. The interest rate is from 12% to 25% per annum.
Service charge: 0%.

For example:
If you apply for a loan of ₦30,000, the term is 180 days and the annual interest rate is 15%.
So the daily interest rate=15%/365=0.041%, the interest for 180 days =₦30,000×15%/365×180= ₦2,214, the totally repayment=₦30,000+₦2,214= ₦32,214.f you choose a 12-month loan and borrow NGN 20,000, Naira Hub charges an interest rate of 2.08% per month. And the interest rate is 25%, we would charge you GNN 5,000 as interest of 12-month repayment period. Total amount of repayment is NGN 25,000.

Loan Eligibility:

1. Nigeria Resident
2. 20-55 years old

Is Naira Hub loan app legit?

Yes, Nairahub does give loans to customers, care should be taken when collecting loans from online loan apps and you should always read other customers reviews and experiences before proceeding.

You should know that these loan apps are not registered or regulated by the CBN or any government agency in Nigeria. You are responsible for the security of your transactions with them and there is no way to seek redress for poor customer service.

Also its availability on Google play store does not make transactions performed on it secure. The play store merely provides an avenue for download, you are responsible for your own security while using loan apps in Nigeria.

What Nairahub can improve

Loan processing and disbursement on this app can be slow, some customers have complained of inability to bind their ATM card to their account during registration.

Loan tenure and amount doesn’t improve much on Nairahub even after taking and repaying loans multiple times.

You might also experience delays in clearing your dashboard after you’ve repaid your loan. When this happens, just keep your proof of payment Handy in case you’re asked to pay a late fee.

Most of the reviews of the app on Google play store are fake, it is not from genuine users which is why most of it is 5 stars. The address on the app is also fake, and no functional developer contact on the app.

How to detect a fake loan app

• Loan apps asking for KYC information including your BVN and asking you to bind your ATM card to your account is normal, but when an app is asking you to make upfront payments or pay for processing fee, such an app is most likely a scam.
• Always read other customer’s review on play store or read reviews on websites like this before downloading any loan app.
• If an app does not have a contact phone number, or the phone number is not functional, that is a redflag.
• Pay attention to fake reviews on Google playstore, most of this apps pay spammers to write reviews for them. Most of the reviews will be from foreign accounts and will mostly give the app a five star without any reasonable comment.
• Dont part with money for what ever reason before getting your loan.
• there are a lots of loan sharks operating without regulation in Nigeria, know that Playstore does not rigorously verify this apps, it is up to you to do your research before doing business with them.

The post Naira Hub loan Review appeared first on AFRICA EXPLAINED.

QCash uses artificial intelligence to analyse a customer’s financial records and its algorithm will make you a loan offer based on your credit worthiness. . Through their platform users can get easy access to apply loans anytime even at home without paperwork.
Loan application process is secure and safe. customers get a revolving loan, meaning if they pay back their loans on time, they can take next loans without any other documentations.

How to Download and Apply for QCash app loan?

• Download and install the QCash Loan app from Google play store
• Register for an account using your phone number
• Provide some information about yourself, your bio data
• Verify your identity and that the information you’ve entered is correct.
• Bind your ATM card to your account with N20.
• verify your phone number
• Get money sent directly to your bank account.

QCash loan app interest rate?

Tenure: Ranges from 180 to 365 days
– Loan Amount: Up to ₦100,000
– APR: Annual Percentage Rate is 10%(lowest)~18%(highest)
For example, if a customer borrows ₦10,000 for 365 days (12 months), the APR is 15%.
We would charge the customer ₦ 10,000 * 15% = ₦ 1,500 as interest of 365 days
repayment period.
Total amount of repayment is ₦10,000 + ₦1,500 = ₦11,500.
As the repayment period is for 12 months
Monthly repayment is ₦10,000/12+ ₦10,000*15%/12 = ₦958.33

Expect your loan amount and tenure to be significantly lower especially for first time borrowers. You can build your credit score to get a higher amount by repaying your loans on time.

Is QCash Loans legit?

Yes, QCash loans are legit, the money lender has given out loans to customers before although with issues. You should read other customer’s review on playstore before you proceed.

What QCash loan app can improve?

Qcash has a couple of issues you should know about before you proceed.

The app contains bugs that can keep asking you to bind your ATM card to your account even after you’ve done that severally. This can be frustrating as you wont be able to move forward without completing this stage.

Repayment of loan can also be an issue, the payment gateway on the app has been reported to be buggy. If you have issues with repayment you should contact support immediately as late charges will be calculated for you even if the fault is from them.

There are also hidden charges and high interest rate on this app, one customer complained that they were offered N10,000 but only N6,500 was disbursed to their account and the rest calculated as interest.

QCash customer service number

The post QCash Loan App Review: Get online loan starting from 10k appeared first on AFRICA EXPLAINED.

Tingo App is a Nigerian loan app that gives instant and convenient small cash loan from 2000 to 100,000.

The hassle-free loan application process is quick and easy online loans with no paperwork! And no collateral required. You get a revolving loan with higher amount every time you repay your previous loans.
If you need quick loans, maybe it’s for that purchase you just can’t wait for, or to take advantage of a great deal before you miss the opportunity. Or, perhaps an unexpected expense has come up and you don’t want to compromise your lifestyle.

TLoan app uses a loan software to calculate a customer’s credit score before making them a loan offer. Your credit score is a record of your previous borrowings, how early or late you make your payments, the amount of money entering and leaving your bank account among other information. Your credit score is attached to your BVN number and can be accessed each time you make it available to loan apps.

How to Download and Apply for Tingo app loan?

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

• Download and install the Tingo Loan App from Google play store
• Register for an account using your 11 digit BVN number
• Provide some information about yourself.
• Verify your identity and that the information you’ve entered is correct.
• Bind your ATM card to your account with N20.
• Provide the contact number of 3 of your friends and family that will be verified.
• Get money sent directly to your bank account.

What are the requirements for a customer to get a Tingo app Loan?

1. Be a Nigerian citizen or legal Resident.
2. Be between the ages of 20-55 years old.
3. Have a Monthly income source.
4. Bind your ATM card to your account
5. Provide the contact number of three of your friends or family that will be verified.

Tingo app loan interest rate?

Loan period: 91 days to 365 days as advertised on the app tho first time borrowers get less than 7 days loan tenure.
Loan amount: from NGN 20,000 to NGN 120,000.
Loan interest: ranges from 4.5% – 34% with an equivalent monthly interest of 3% – 29% and APR of 29% – 365%.

Example:
if you choose a 6-month loan and borrow NGN 1,000,Tingo charges an interest rate of 4.4% per month. And the interest rate is 26.4%, we would charge you GNN 263 as interest of 6-month repayment period. Total amount of repayment is NGN 1,263.

Is Tingo app loans legit?

Yes Tingo app does give out loans to customers but with extremely high interest rates most especially for first time borrowers. Read other customer’s Reviews on play store before you apply for a loan.

What Tingo app can improve?

The loan interest rate on the app is extremely high especially for first time borrowers. The app can also trick borrowers into taking the extremely high interest. for example, when you apply for a loan the app will calculate how much you qualify for and make you a loan offer.

But your loan offer already contains the interest. You might qualify for 11,000 but only 7,000 will be disbursed to your account for a seven day tenure and the remaining 4,000 calculated as interest.

Tingo app also does not seem to have a functional customer service number, alot of customers who have issues have complained that there is no way to reach the app developers.

Loan amount for first time borrowers is extremely small, starting from N2,000 which doesn’t seem to improve much for repeat borrowers.

TLoan and other loan apps are not registered or regulated by the CBN or any government agency in Nigeria. You’re responsible for the security of your transaction with them.

Tingo app customer service number

If you have any issues or enquiry

Email: GiasunTechnology@gmail.com

The post Tingo Loan App Review: Now rebranded as TLoan quick loan app in Nigeria appeared first on AFRICA EXPLAINED.