RENMONEY: ALL YOU NEED TO KNOW

Filed in Blog by on April 13, 2021 0 Comments

Renmoney: Is It Legit? All You Need to Know

Why loans from Renmoney? Well, perhaps you should do that if you can’t stop dreaming of starting up that company. For the capital you need to start, you no longer have to rely on loved ones. In Nigeria, there are credit companies waiting for you to reach them. Take, for example, Renmoney Nigeria, Renmoney is the most convenient microfinance bank in Nigeria, with innovations that provide exceptional service experiences. The loans range from N50 000 million to N6 million for both individuals and micro-enterprises.

Renmoney Microfinance Bank has a diverse team of managers with multiple industry experience who work together to offer their customers the best.

The Renmoney app quickly supports credit and loan applications. It collects data seamlessly, checks applications for loans and disburses money within 24 hours. The app can be downloaded from the play store easily and only on Android.

Renmoney loan calculator

The best way to apply for loans today is to first determine the interest you will receive the loan. Even before you apply for your loan, you can get this first through the Renmoney Calculator. You can use it freely, and if you do, you have not committed to taking the loan. It is best to use this to know exactly how much you will reimburse, the interest charged and the length of time for payment. You can go ahead and apply for the loan once you’re up for it.

Renmoney Loan Requirements

Renmoney covers a range of loans that meet the needs of each person. The loans may include school fees, smartphone funding, sales outlets and loans at work. They are open to self-employed persons and employees. They order the credit and you must fulfil certain criteria, including some

ELIGIBILITY CRITERIA
  • Be between ages 22 – 59 years.
  • Have a steady source of income that is verifiable.
  • Must be confirmed staff in present employment.
  • Have a functional current or savings bank account.
  • Identification – International Passport, Driver’s License, National ID Card.
  • Applicant must live and or work in Lagos State.
  • You must have a clean Credit Bureau Report.
  • You must not have a history of returned cheques in your account.
  • One recent passport photograph (within the last 6 months)
  • Salary bank statement for the last 6 months (must be stamped by the bank).
  • Utility Bill (PHCN, Water bill, LAWMA bill OR Rent Agreement)Renmoney

You can fill out the Renmoney loan form and upload the document and submit it if you are sure that you fulfil the above criteria and more available on their website. Your loan application is most likely to be granted, but you must wait for the approval and usually takes 24 hours to complete.

Renmoney Loan Repayment

It’s never as exciting to pay back a loan as the loan application is awarded. At this point, most of the people would be fighting, particularly if the loan gave zero rates to their investments or businesses. Whatever your feelings, you also choose a refund process once you receive a Renmoney loan. You can opt for a month’s reimbursement or extend your loan over 12 months.

Your interest rate varies from loan repayment choice. Your interest rate varies. The longer the repayment period, the higher the rate of interest, For example, if you pay back the loan within three to six months, your repayment can attract an interest rate of up to 33.9 per cent. It is probably a way of making your customers eager to repay their credit. Not only Renmoney is peculiar. Other loans such as the C24 loan, Palmcredit, Branch loan, Fairmoney, Paylater, Okash loan, Financials page, etc. The same goes for other companies.

Click here to download the Renmoney app

Renmoney Customer Care

You can reach their customer service representatives by contacting Renmoney numbers 0700 5000 500 or 0700 7366639 if you’re ready to take out that loan but need further guidance.

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