Are you looking for information about the renmoney loan app? Are you in search of a quick online loan in Nigeria? If your answer to these questions is yes, then you are reading the right article.
The age of going to the bank to apply for a loan is over. There are so many platforms where you can get access to a mobile loan in Nigeria these days. One such platform is the renmoney loan app.
With this app, you can access up to four million naira. The sound of that must be music to ears, especially with the condition of things in Nigeria today.
In this post, you will learn all there is to know about renmoney app. Part of this includes the requirements, the renmoney loan application form, the interest rate, and how to repay a loan. Juicy right? Get your cup of coffee, sit back, and enjoy the rest of this interesting post.
Before we go on, here’s some good news to keep you going. You don’t need any collateral to apply for a loan from the renmoney loan app. All you need is to submit the necessary pieces of information and you are good to go.
About Renmoney Loan
The body that offers this loan is known as Renmoney Microfinance Bank. Before now, it used to be known as Rencredit. The company is a financial solutions company that was established way back in 2012.
The truth is this company has not been on the scene for so long. Yet it has proven to be one of the most reliable financial solution bodies in Nigeria. The services of the Renmoney Microfinance Bank are geared at meeting the financial needs of both business owners and employees of companies.
By business owners, we mean both small scale, medium scale, and large scale business owners. What this implies is that you may not be able to get a loan from Renmoney if you are self-employed or unemployed. In this case, you can use many of the other 24hrs loans in Nigeria.
Requirements to Collect a Renmoney Loan
Just like every other mobile loan in Nigeria, for you to enjoy a loan from the renmoney loan app, there are requirements. In this section, we will take a look at the requirements which you must satisfy to get a loan from Renmoney Microfinance Bank.
The requirements include:
- You have to be between 22 and 59 years of age.
- You must be employed by an organization or be a business owner.
We will take a closer look at the different requirements for different categories.
Requirements if You Are an Employee
As an employee of a reputable organization, you can apply for a loan via the renmoney loan app. However, be sure that you satisfy these requirements so that your loan application is not declined.
- You should be running an active salary account with any of the commercial banks in Nigeria. This account must have been running for at least six months.
- Present a statement of account of the said account for a minimum of six months. It has to carry the authorized stamp of the bank where the account is lodged.
- Your credit bureau report must be clean of any loans taken in the past. This means that you cannot have any outstanding loans. Along with this, you must have a credible credit score.
- You cannot have a history of bounced checks. This means the banks must have not returned any of your checks in recent times.
- A recent passport photograph. The passport should be colored and must have been taken within the last six months.
- A valid identification card presented by the employing organization. This a proof to show that you actually work for the organization.
- You also need to present a letter from the human resources department of your company. This letter should show that you are employed with the organization and your current designation. It should also carry information about how much you earn monthly if there has been an increment, as well as redeployment if any.
- Recent utility bill. This should not be over three months old. Make sure that any debts are cleared before presenting this bill else your application may be declined.
- A valid national identity card or its equivalent. This includes national drivers’ license, voter’s card, or the ECOWAS passport.
Requirements as a Business Owner or Self-Employed Individual
The requirements are a bit different if you work for yourself or you own a business. Let’s take a look at what you need to satisfy to get a quick loan in Nigeria from the renmoney loan app.
- Recent passport photographs. Just like it was stated above, it cannot be older than six months and it must be colored.
- Present a valid means of national identification. This includes a national identification card, driver’s license, voter’s card, or ECOWAS passport. Whichever you choose must not be expired.
- Provide an identification card that shows that you truly own and run a business.
Other Requirements Are:
- A statement of your account, this could be personal or corporate. The statement has to be signed and stamped by the bank where the account is lodged. It must also date back to the last six months at least.
- You have to provide proof that you pay taxes by presenting a certificate of tax registration. Along with this, you have to present a receipt of payment of taxes.
- Present a means through which the loan can be paid back. This is basically you have to present a NUBAN check.
- Certificate and memorandum of incorporation of your business with the Corporate Affairs Commission (CAC). This is a proof to show that your business exists under the laws of Nigeria.
- A recent utility bill of either your business address or home address has to be presented. Make sure you clear the bill before presenting it to avoid declining your application. The bill cannot be older than three months.
- A guarantor to stand on your behalf. Renmoney has a list of people that are eligible to be guarantors. Make inquiries with the company to get this list.
After meeting these requirements, you can apply for a loan from the renmoney loan app. You can rest assured that your request will be granted within a few hours.
Other Types of Renmoney Loans
Just like the other fintech solution companies in Nigeria, Renmoney Microfinance Bank provides several other loan facilities. These loans are for helping esteemed customers meet specific needs.
You can also get these loans from the renmoney loan app and they fall under the category of quick online loans in Nigeria. Let’s take a look at the other loans you can get from Renmoney.
1. Renmoney School Fees Loan
Education they say is the bedrock of development. Renmoney understands this and thus provides loans to parents who cannot afford their children’s fees. This is one of the easiest 24hrs loans in Nigeria.
The requirements are the same as above so let’s focus on how you can submit an application for this loan.
Applying for Renmoney School Fees loan
You can do this in two ways:
- You can enjoy lesser rates if your child’s school is a partner under Renmoney Microfinance Bank. The process is easier as you just have to apply through the school. Simply download the form here, fill it and submit [email protected].
- In the event that your child’s school is not in such a partnership, take the following steps.
- Apply through the renmoney website and fill the application form.
- Make use of the loan calculator.
- Submit the required school fees details and await a response from representatives of Renmoney.
After submitting your application, the following should happen:
- You’d receive a notification from Renmoney.
- You may need to submit certain documents at any of the Renmoney offices.
- Upon approval, you get the required amount within 24 hours.
2. Renmoney @Work Loan
There are several organizations that have been pre-screened by Renmoney Microfinance Bank. This implies that their employees can get a loan from the renmoney loan app. To get the renmoney @work loan your organization needs to,
- Have 30 staff or more.
- Have a Corporate Affairs Commission (CAC) registration number
This gives access to employees to lower interest loans from the renmoney loan app.
Applying for Renmoney @work loan
- Download the loan application form and fill it at work.
- Make available all the necessary documents.
- Drop the application form with the Human Resources Department of your company. One of the Renmoney Relationship Managers will pick it up from there.
- You will get a notification from Renmoney stating whether the loan has been approved or not.
- The cash should hit your account within 24 hours after approval
Renmoney Contact Offices
To learn more about the Renmoney loan app, you can visit any of the organization’s offices in Lagos.
- HEAD OFFICE: 89 Awolowo Road Ikoyi
- SURULERE OFFICE: King Plaza mall, Adeniran Ogunsanya
- OPEBI OFFICE: Pentagon Plaza, 23 Opebi Road Ikeja
- LAGOS ISLAND OFFICE: -50-52, Broad Street, Lagos in CSS Bookshop House
- APAPA OFFICE: Apapa Mall, 13 Park Lane, Apapa, Lagos
- LEKKI OFFICE: F61 and F62 Road 3, Ikota Shopping Complex, Ikota, Lekki-Ajah
You can also call 0700 73666639 or visit the official website here.