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RenMoney offers customers unsecured cash loans of up to NGN2. 5 million for up to 9 months to salary earners or self-employed as long as they can provide a verifiable source of income. The penalty is a daily default charge of N300 including public holidays and weekends.
Which cities does Renmoney operate in?
About RenMoney Their offices are in Surulere, Apapa, Lagos Island, Ikota, Ikeja, and Ikoyi.
Which bank is Renmoney?
RenMoney Microfinance Bank (formerly RenCredit) is a CBN-regulated fintech company that operates under a microfinance banking license. After its inception in 2012, RenCredit rebranded to RenMoney in December 2013.
How long does it take to approve loan on Renmoney?
Wait for Loan Approval It can take between a few minutes to 24 hours for your loan request to be fully processed. If your loan is approved, you will get a credit alert in the bank account provided on your profile.
How do I apply for a Renmoney loan?
Follow these steps to get a loan from Renmoney: Visit the website. The fastest and easiest way is to visit the website and apply for loan there. Complete the application form. On the website, make sure you fill and complete the loan application form. Upload your documents. ... Wait for your loan. ... Visit any of its branches.
With Renmoney, you can apply for a loan of \u20a66,000 \u2013 \u20a66,000,000 without collateral and repay in 3 -24 months. Monthly interest rates range from 2.4% \u2013 9.33% and the maximum Annual Percentage Rate (APR) is 35.76%. No other fees are charged.
How do I get a loan from Renmoney?
How to get a loan from Renmoney Visit the website. The fastest and easiest way is to visit the website and apply for loan there. Complete the application form. On the website, make sure you fill and complete the loan application form. Upload your documents. ... Wait for your loan. ... Visit any of its branches.
What bank is Renmoney?
Among those taking advantage of that is Renmoney Microfinance Bank. The company started in 2012 with a microfinance banking licence in Lagos, initially under the name RenCredit. It changed its name to Renmoney in December 2013 and since then it has upgraded to a state licence and opened five more branches.
How much can I borrow from Renmoney?
With Renmoney, you can apply for a loan of \u20a66,000 \u2013 \u20a66,000,000 without collateral and repay in 3 -24 months. Monthly interest rates range from 2.4% \u2013 9.33% and the maximum Annual Percentage Rate (APR) is 35.76%. No other fees are charged.
How do I get a loan from Renmoney?
How to get a loan from Renmoney Visit the website. The fastest and easiest way is to visit the website and apply for loan there. Complete the application form. On the website, make sure you fill and complete the loan application form. Upload your documents. ... Wait for your loan. ... Visit any of its branches.
renmoney sign up
Predictive Factors in Mobile Loan Acceptance and Use by ...
Table 3: Most popular Mobile Loan Applications Frequency Percent Renmoney 279 84.8 ... All hypotheses stated were tested in null form, posing the assumption ...
Feb 26, 2021 — ... AND RANCHERS TO APPLY FOR PAYCHEC AND RANCHERS TO APPLY FOR PAYCHECK PROTECTION PROGRAM BY USING NET INCOME AS THEIR LOAN CALCULATIONS.
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