With Renmoney loan, you can borrow up to N4 Million with low interest rate, all can be process without any form of collateral or documents right here in Nigeria.
So if you are in urgently need of cash either to bolster your business, to solve your family issues and so on, then, Renmoney.com is their for you. Although Page financial gives out huge loans with low interest rate to its subscribers without collateral. But when checking out other top Loan lending platforms, you will notice that Renmoney loan is among the top 10 most trusted loan platforms in Nigeria.
So, in this article, am going to briefly explain about:
- What Renmoney is really all about
- Requirements Form
- Interest Rate
- How To Apply
- Repayment Channels
- Loan Calculator
- Customer Care Service
Renmoney
Renmoney, previously known as Rencredit, is a fintech lending company operating under a microfinance banking license in Lagos state, Nigeria. They provide loan, investment and savings account to individuals and small scale business owners through their website portal, agent network, branches and through contact center. Regulated by the central bank of Nigeria (CBN) and insured by the Nigeria deposit insurance corporation (NDIC).
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Since 2012, they have provided over 200,000 personal and micro-business loans to Individuals in surulere, Apapa, Ikota, Lagos Island and other places where they operate within Lagos state, Nigeria.
Renmoney loan investment products
Fixed Deposit:
It is a tenured investment with up to 21% on a minimum of N200,000 deposit fixed for 30 days to 360 days. (1 to 12 months).
Target Savings:
It is a high yield savings account with 10% p.a. interest on a minimum of N20,000 monthly savings.
Note
Your investment is safe with the company because they are regulated by the central bank of Nigeria (CBN) and insured by Nigeria deposit insurance corporation (NDIC).
They has a highly skilled team and a 100% payout rate on investment. But since the sole reason why you are reading this post in the first place is about how to apply for a loan with Renmoney, so it is very important that we concentrate on that matter.
Renmoney Loan Requirements
To qualify for a loan with Renmoney, you must have this following requirements:
- Be between 25 – 59 years of age
- Have a savings or current bank account with any commercial bank in Nigeria
- Have a verify source of income
- A bank statement
- A government issued ID card and utility bill (optional)
- Live and / or work in cities where they operate.
Renmoney Loan Interest Rate
Renmoney uses a risk based pricing model which estimates the risk of lending to each applicant and prices accordingly.
For more explanation: If you apply for a loan of N1,000,000 (1 million) to repay in 12 months time. Your annual interest rate is 33.9% + management fee charge upfront N35,700. In 12 months time (loan due date), you are expected to repay the sum of N1,386,467.
Note
Fees are subject to change and will be affected by your risk score.
How To Apply For A Loan on Renmoney
Loans at Renmoney are designed to conveniently meet our financial needs and wants. So, whether you’re employed or run your own business, you can generate a loan of up to N4 Million today. To apply for a loan, follow this tutorials:
- With your mobile device, Visit Renmoney.com web portal and click on “Apply” or you can visit their loan application form Here.
- Fill in a form such as (employed or business owner, age, state, local government, estimated monthly income or your monthly salary).
- Click on “how much can I borrow” to proceed.
- A new page will open where you are required to fill in your loan amount and it’s repayment tenor
- A new page will open where all the required informations will be displayed to you. Analyze it and click on “I understand and acknowledged the requirements”
- Now, fill in your personal details such as your phone number, email, bank details and BVN number.
- Accept it’s terms and conditions and click on “continue” to proceed.
- Receive your loan within 24 hours if being accepted directly to your bank account
Note
Sometimes, you might be offered lower than the loan amount you wanted, and that is because your debt-to-income ratio may not be able to accommodate your loan request.
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Renmoney Loan Repayment Channels
It’s your loan approaching it’s due date? If yes then follow this tips to repay your loan.
- Cash Deposit/Internet Transfer: transfer money into any of this following bank account. Gtbank – 0120829621 or Polaris bank – 1771340451
- Cheques Deposit: The cheques being deposited as part of your loan documents will be presented to your bank account on your loans due date. Please avoid bounce cheques by making sure you have enough money to cover your loan repayment amount
- Paystack: visit Paystack.com/pay/renmoney and fill in your details and initiate your transaction
- GTCollections: visit Payinstantly.com/Renmoney and click on “Renmoney Loan Repayment”. Remember to quote your Renmoney reference <LOAN ID> when initiating your loan repayment transaction.
Renmoney Loan Calculator
Renmoney loan Calculator is just an estimate and should only serve as a guide. Your final loan amount and it’s interest rate will be determined by your financial profile and your credit history.
Click here to take you to a page where you are required to type in any loan amount of your choice and it’s repayment schedule then watch as your loan interest rate will be displayed for you.
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Renmoney Customer Care Number
If you ever feel like you needed to talk to Renmoney representative on any issues that may arise based on your loans offer, Requirements or any other queries.
Please don’t hesitate, Dial +2347005000500 or you can send them a mail at hello@renmoney.com
Head office/Branch:
- 23, Awolowo Road Ikoyi, Lagos, Nigeria
- Pentagon Plaza, 23 Opebi Road, Ikeja
- Kings Plaza, 80, Adeniran, Ogunsanya Street, Surulere
- 27-29 Odunlami Street, Marina
- F61/F62 Road 3, Ikota Shopping Complex, Ikota, Lekki-Ajah.
Conclusion
Renmoney loan allows you to borrow up to N4 Million directly to your bank account within 24 hours if being accepted. In this post, I gave you tips and tutorials on how you can successfully apply for a loan.
Don’t forget to call or send them a mail on any issues that may arise.