Newcredit loan is a very quick loan service in Nigeria that lets people who qualify get money without a lot of stress. The loan can be used to pay for personal or business costs.
Even though this post is mostly about getting money from Newcredit loan in Nigeria, it also tells you how to get a loan from them.
How to pay back loans on Newcredit, how to get the Newcredit app, and customer service are some of the other things it tells you.
How does Newcredit loan work?
When you need money, Newcredit is a good and fast service in Nigeria. You don’t have to give up anything to get money.
If you want to start, download and install the Newcredit loan app from the Google Play Store to get going. After the software is installed, you can register and go on if you are eligible.
When you use Newcredit, you can get a loan of up to 300,000 in Nigeria. This makes it stand out from other quick personal loan services.
The fact that most Nigerians use Newcredit when they need a loan app makes it the best choice for them.
To be able to get a loan from the Newcredit loan service, you need to meet a few rules. They have been shown below.
- You must live in Nigeria to apply for Newcredit loan
- You must be between the ages of 18 and 60
- Have a steady source of money each month
- Android mobile phone with internet access
- Your real phone number
- The bank account number that you will use to get the money you borrowed
- Bank statement including your (BVN)
- Your ATM card number
- Two guarantors with their phone number
The next step is to install the Newcredit loan app on your Android device.
When you have all of the requirements ready, you can move on to the next step.
How do I get the Newcredit App?
People who use Apple and Windows computers can’t get newcredit loan. It’s for this reason that you need to get the official Newcredit App before you can get a loan from Newcredit.
It can be found on the Google Play Store. There have been more than 1 million downloads of this app. It has a small size of 12 MB and is easy to use.
It now has a rating of 4.5 out of 5 from more than 64,000 people who have used it.
How to get a loan from Newcredit
Download and set up the app.
Afterwards, open the app to use it.
Use your phone number to open a new account for credit.
Give the information that is needed. This includes your name, address, occupation, and who is your next of kin.
You need to fill in your Bank Verification Number (BVN) and add your ATM card to this. When it’s time to pay back your loan, you’ll also need your ATM card.
Wait for a while your loan application is being looked over by the lender.
If you get the money, it will be sent to your bank account.
How much can you get from Newcredit?
Loans can be taken out for between #10,000 and #300,000. You have to be eligible and fill in all the information correctly to get the money.
To get money from Newcredit, you can’t take out a loan for more than this amount.
Loan terms for newcredit
Newcredit also makes it easy for people to get a loan. They also give them a lot of time to pay it back.
It can be done in three months (91 days) to a year (365 days).
Interest rates on new credit
4 percent interest is charged on new credit every month. That means the Annual Percentage Rate (APR) is now 48%.
There is a fee of 24,000. If you borrow 100,000 from Newcredit and choose to pay it back in 180 days, you’ll have to pay 24,000.
If you borrow #100,000 on the Newcredit platform, you will have to pay it back in the following way:
Three months: #112,000
Six months: #124,000
One year: #148,000
Then, here’s a tip: You will save money if you choose a short-term payment term of three months.
That’s because each month, you pay an extra 4% on your debt.
Newcredit: Repayment package of loans
The amount of money you owe will show up on your dashboard if you apply for a loan on the Newcredit platform and it goes through.
Your dashboard will also show you when your next payment is due, as well as other important information.
If you want to pay back your loan on Newcredit, click on the button that says “repay.” To get to the repayment section, click on this.
There, you will see a variety of ways to pay back your debt.
Choose the one that is the best for you and pay the amount that is due.
is new credit loan app legit
Newcredit is very legit loan app in Nigeria. Newcredit, is a new way to get a quick loan.
They offer mobile financial services and users can Get loans of up to N100,000 in 5 minutes!
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Newcredit loan Head Office
You should go to the Newcredit head office in Lagos, Nigeria if you want quick customer service by phone or in-person quickly.
It is at Number 45c, Sobo Arobiodu Street, Ikeja GRA, Ikeja in Lagos, Nigeria, and it is in Lagos.