With many loan apps now existing in the country, it is now a matter of which is more secure and one that offers a loan interest rate that can be easily repaid. Renmoney is one of such loan apps that has become mostly used for loan purposes in Nigeria, and we’ll be exploring loan interest rates offered by Renmoney.
What is Renmoney? Renmoney as you may have probably found out is a financial technology company in Nigeria which offers various financial services, including loans, savings, and payment solutions. As a top loan platform in Nigeria, it offers personal loans that are as high as N6 million with repayment terms of up to 12 months.
The financial technology company also offers payday loans; small business loans; high-yield savings; investment plans, and bill payments features.Simply put, Renmoney leverages technology to foster seamless financial transactions in Africa.
Loan Interest Rates for Renmoney
The loan interest rates for Renmoney is quite different from other loan apps in Nigeria. Based on our findings, here’s what we know about the loan interest rates for Renmoney: the interest rate for Renmoney can be as high as 35.76% for a full year repayment, that is 12 months. However, if the repayment time is below 12 months, the rate tends to be lesser. The loan terms offered by Renmoney range from 1 month to 12 months. So, for those interested in using the loan app, the repayment plan should also be put into consideration as this reflects in the apportioned interest rate.
One of the reasons why Renmoney loan interest rates are higher than traditional banks is that they offer unsecured loans compared to traditional banks.
Is Renmoney legit? Are you curious about the legitimacy of a platform that offers that much loan at flexible repayment options, competitive rates, and a host of other financial services? Read on!Yes, Renmoney is legit for many reasons.
According to our findings, Renmoney is first a Nigerian financial technology company that is licensed by the apex bank in Nigeria – the Central Bank of Nigeria. More so, it is insured by the Nigeria Deposit Insurance Corporation.
What CBN’s license and NDIC’s insurance means is that your savings and deposits with Renmoney are protected.
How many branches does Renmoney have?
Of course you wouldn’t want to put your money into a company with no contact address. It appears Renmoney shares the same sentiment as you. So, we have checked to see how easily you can access Renmoney should you have a complaint that requires a physical visit.
Renmoney has got various branches in Lagos State, Nigeria. And these branches are situated at various places. Head Office: 23, Awolowo road, Ikoyi; Surulere: Kings Plaza, 80, Adeniran Ogunsanya Street; Ikeja: Pentagon Plaza, 23, Opebi road.; Ibeju/Lekki: F61 & F62 road 3; Ikota Shopping complex, Ikota. Lagos Island: 27-29 Odunlami Street, Marina.
How Reliable is Renmoney?
Renmoney is a reliable Nigerian financial technology company that is licensed by the apex bank in Nigeria – the Central Bank of Nigeria. More so, it is insured by the Nigeria Deposit Insurance Corporation. What CBN’s license and NDIC’s insurance means is that your savings and deposits with Renmoney are protected.
Their compliance with the apex financial authority in Nigeria guarantees the extent to which they can be relied upon. They also operate under the surveillance of the Consumer Credit Industry Association. Their customers consider them reliable for their commitment to addressing feedback and resolving issues; and the security of customers’ sensitive information, such as Bank Verification Number, National Identification Number, and so on.
How to Download Renmoney App and Login
To download the Renmoney app, you can visit Google play store as an Android user or Apple app store for iOS devices. Then you use the search bar to search ‘Renmoney’ and Install/Get the app. Once the download is complete, follow the prompts and fill in the correct details.To login into your account after signing up, open the app, tap login located at the bottom of the screen and enter your username and password as requested.
After this, all you have left to do is login to access your Renmoney account.
We hope this article has answered everything you need to know about Renmoney. Use the comment box to express yourself on the topic and let us know if you would like to see more of this.
