Why use The Renmoney Loan App? So perhaps you should take action if you can’t quit daydreaming about creating that business.
You are no longer dependent on family members to provide the startup funding. In Nigeria, there are loan providers standing by to speak with you.
Take Renmoney Nigeria as an example. Renmoney is a microfinance institution that prides itself on being Nigeria’s most practical lender thanks to innovations that provide exceptional customer service.
They offer loans between N50,000 to N6 million for microloans to both individuals and small businesses.
A team of different executives with experience from a variety of industries works together at Renmoney Microfinance Bank to provide the finest service possible to its clients.
Renmoney App Overview
Rating on average: 2+ stars
Downloads: 5,000+
In Nigeria, the Renmoney app is a loan app that expedites credit disbursements and loan applications. It effortlessly gathers data, checks loan applications, and disburses funds in less than 24 hours.
You may quickly download the Renmoney loan app from the play store if you have an Android device.
Calculator for Renmoney loans
The best thing about applying for loans today is that you can calculate the interest you’ll pay on the loan beforehand.
Through the loan calculator provided by Renmoney, you can first comprehend this even before applying for your loan.
It is free to use, and by doing so, you are not committing to taking the loan.
The ideal way to use this is to know exactly how much money you will need to repay, how much interest will be charged, and when the payment must be made. Once you feel ready, you can submit an application for the loan.
With the help of our loan simulator, you can now compare interest rates from various lenders and choose the best deal.
Before committing, it’s important to compare various loan offers in order to make an informed choice.
With the help of our simulator, you can quickly compare loan offers from various lenders in less than 5 minutes, allowing you to choose the best financing option.
You can also gt up to 500k loan with iMoney Loans and NewCredit Loan App
Requirements For Renmoney Loans
Renmoney offers a range of loans to meet the demands of every customer. The loans can be used for point of sale, work loans, funding for smartphones, and education expenses.
Both employed and self-employed people are eligible. You must comply with certain requirements in order to be eligible for the loan, some of which include
1. You must be between the ages of 22 and 59.
2. You must currently have an active bank account with a Nigerian commercial bank.
3. Must have a successful business or be well-paid as an employee
4. The employee and the business owner must both provide proof of their monthly income and a spotless credit report.
5. You must have your statement of accounts for the previous six months on hand, and there cannot be any returned check problems.
6. To demonstrate your status as an employee of your company, carry a current passport photo and an identity card.
You can fill out the Renmoney loan application form, add your supporting documentation, and submit it if you’re convinced that you match the requirements listed above and those that are listed on their website.
Your loan request will probably be approved, but you must wait for this approval, which often occurs within 24 hours.
Loan Repayment For Renmoney
A loan’s repayment process is never as thrilling as the loan application process. At this stage, the majority of people would struggle, particularly if their investments or business ventures using the loan produced little or no returns.
Regardless of your feelings, after receiving credit from RenMoney, you also select a repayment method. You have the option of repaying the loan in one month or over the course of twelve.
The loan repayment option you choose will affect the interest rate on your Renmoney.
The interest rate increases with the length of the payback period. For instance, a full-year payback may incur an interest rate of up to 33.9%; but, if the loan is repaid in 3-6 months, the interest rate will be lower.
It’s presumably a tactic employed to get borrowers excited about repaying their loans.
This peculiarity is not exclusive to Renmoney. Other lending institutions including C24 Loan, Palmcredit, Branch Loan, Fairmoney, Paylater, Okash Loan, Page Financials, and others also exhibit this behavior.
Renmoney Client Services
You may get in touch with their customer service professionals at either of these Renmoney contact numbers if you’re ready to apply for the loan but need more advice. 0700 5000 500 or 0700 73666639.
With this information you re seconds away from getting your loan with The Renmoney Loan App