UaCredit Loan App Review: Online Cash Loan in Nigeria

UaCredit loan app is an online cash personal loan platform that offers fast micro and medium loans to Nigerian residents. The Android app allows users to borrow up to ₦50,000 unsecured with no collateral and minimal documentation.

An unsecured loan is a type of loan that does not require collateral or downpayment to obtain. It is usually short-term with very high-interest rates.

Do not borrow from an online loan app to fund your lifestyle. Short-term loans are helpful in emergencies but can be quite expensive and should be used with care.

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

To qualify for higher amounts, be sure to keep good bank transaction messages on your phone and do not have outstanding debts with other loan apps!

How to Download APK and get a loan from UaCredit Loan app

  • Download the UaCredit Loan App 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 in about 5 minutes.
  • Make sure you’re using a good phone with enough memory space as you will be required to take a clear live selfie for identification.

Note that binding your ATM card with N30 does not guarantee that you will get a loan, you still have to pass the credit score check.

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.

Your credit score is a record of your previous borrowings, how early or late you make your payments, cash transactions going in and out of your bank account among other information.

When you download this app you have to consent to it to get access to your phone book contacts that will serve as your guarantors, SMS to see your banking transaction records, apps on your phone to see how you use other loan apps and other details it uses to build your credit score.

Although this app gives some customers loans, others have complained that the app deducted money from their banks after binding their ATM cards, be careful when using this loan app.

Is UaCredit loan app legit or a scam?

Yes, UaCredit loan loan app is a legit loan app that gives micro and medium term loans up to a maximum amount of N50,000 to borrowers, but has really high interest rates and bugs that prevents smooth registration. caution should be taken before taking any online loan. Always read other customer’s reviews before you apply for a loan in Nigeria.

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 the 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 security while using loan apps in Nigeria.

Requirements to obtain a UaCredit loan

  • Have a bank account and bvn; your eleven-digit BVN will be used to check your credit score.
  • Have source a of income
  • Have a good credit score; if you have a history of late payments with other loan apps you might be denied a loan or be given a very high-interest rate.
  • Reside in Nigeria
  • Have a smart phone with which to download the app; the app is only available on the Google play store accessible only with an Android smartphone.

Because there is no regulations in Nigeria, most of these apps are loan sharks who might threaten to send messages to your family members calling you a scammer if you default on your repayment. It is best to avoid these apps if you have other options.

If you’re being threatened or bullied by any loan shark in Nigeria, see this Facebook group where you can find support and read about the experience of others who have suffered bullying from loan apps.

What other borrowers are saying about UaCredit loan loan app

Lawal Jelili wrote, “This is your app has been giving problem to repay is a problem what kind of app is this now you sending me messages on my phone and to all my contacts why cant you improve your app and if there is any way you can improve please do not start sending calling person fruster because it cause your company alot of problems and I will send this message to appropriate authority to look into it for loan of #2500 to #4150 for 7days.”

Timothy Favour wrote, “Kelvin is so rude…he talks like an can u start sending messages to someone’s contacts because the peraon’s loan is a Day overdue..Sending threatening messages..I won’t even advicey enemy to use this app..they are worthless people..”

Blessing Okon wrote, “My loan has been approved . I been trying to bind my card all day yet it showing error. tried 3 cards same results .this is my ,2nd loan. what the way forward.”

Interest rate?

91 days to 180 days (including renewal) loan term with normal interest rate 25% per year and 5% processing fee deducted from net proceed ( Fees and interest rates are detailed in UACredit application):
For example: amount of NGN 3,000 with a limit of 180 days. Interest rate of 25% / year
• The monthly payment is: NGN 562
• The amount of interest for the entire loan is: NGN 375
• The processing fee charged is: NGN 150
• The total payment is: NGN 3,375
• EIR is: 18.4215%

Note that this interest rate and loan duration is just an example, expect your actual loan and duration to be much lower, but you can improve it by paying back your loan on time and keeping a good credit record.

UaCredit loan app customer service number

  • Consumer hotline: 09162827890
  • Email:
  • Address: 30, SOBO AROBIODU ST, IKEJA GRA 101233, IKEJA


A writer! Columnist and an academic researcher
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