Last Updated on July 1, 2024 by admin
Are you searching for how to apply for Renmoney loan and requirements ? Renmoney is a leading microfinance bank in Nigeria that leverage in technology ,data and innovation to deliver outstanding service to make financial inclusion count when it come to given out loan without collateral or guarantors.
Renmoney prides itself on its collateral-free, guarantor-free loan offers. The loan offers are specifically for salary earners and business owners in Nigeria. The microfinance bank has a team of diverse executives with experience from multiple industries who work together to deliver the best to its customers.
They offer convenient loan to meet needs like growing your small business, renovating your home, buying a new car, paying rent, school fees, medical bills, etc.The good aspect is that you can get up to N6million for up to 24 months when you meet their requirement.
Renmoney loan facility is for both salary earner or run your own business,Small and Medium-Sized Enterprises (SMEs) and startup entrepreneurs can get loan that will help you meet your needs conveniently.
You can also read: How to apply for AB microfinance bank Various Loan application
Renmoney loan requirement
1.Be between 25 – 59 years old
2,Have a verifiable source of income
3.Live and /or work in cities where they operate
4.Have a savings or current bank account with any commercial bank
5.You should be able to provide statement of your bank account for up to six months. There should be no issues of returned cheque.
6.Have a Valid ID that can prove your identity
7.Have a recent passport photo and an identity card to prove that you’re a staff of your organisation when you fall into the categories of employee.
8. You must be operate as a business more than 1 year when you fall into business category.
9.You need your bank statement, a government issued ID card and utility bill
10. Have bank verification Number{ BVN} due to CBN policy applicable to financial institutions as part of KYC requirements.
Renmoney interest rate
Renmoney Interest Rate depends on your repayment choice which normally 35.76% Total amount payable.You can also make use of their loan calculator to demand your loan by visiting :my.renmoney.com/calculator/loan
You may also like:How to Apply for Various Accion Microfinance Bank Loan In Nigeria
How to apply for loan from Renmoney
1. To apply for renmoney loan interested customers can apply via website https://my.renmoney.com/calculator/loan
2.Choose your loan tenure & amount then share some information about yourself
3.Verify the information that you’ve provided
4.Sign your documents and get the money in your bank account within 24 hours, if your
loan is approved…Also you can visit any of their branch office if you prefer not to apply online.
Also you can dial 723*73001# to request a quick loan from your phone number .Though it must be must be registered as an active payment method for Renmoney.
Loan tenure and interest rate
The loan tenure ranges from 3 months to 24 months. The interest rate charged depends on your chosen repayment period and amount borrowed – The longer the loan tenure, the higher the interest rate. The Annual Percentage Rate (APR) ranges from 32% – 132.02% No additional fees are applicable.
Loan fees and penalties
There is a default fee on Renmoney loans if you fail to pay back your loan in the agreed repayment period. This fee accumulates every single day (weekends and public holidays included) after the period has expired.
Benefits of Renmoney loan
Renmoney offers very easy ways for small business owners and salary earners in Nigeria to access financial aid quickly provided that they meet all the ts. Putting this alongside convenient repayment periods, Renmoney does not require collateral or guarantors to provide you with loan offers at the moment when you need them the most.
Renmoney Customer Care
Renmoney head office address: 23, Awolowo Road Ikoyi, Lagos.
Email: hello@renmoney.com
Phone number: 0700 5000 500,0700 73666639.
Renmoney Branch Address
Marina 27-29 Odunlami Street, Marina
Ikeja Pentagon Plaza, 23 Opebi Road, Ikeja.
Lekki F61 & F62 Road 3, Ikota Shopping Complex, Ikota, Lekki-Ajah.
Surulere Kings Plaza, 80, Adeniran Ogunsanya Street, Surulere.
