The demand for loans in Nigeria has been on a constant rise due to economic reasons. Fortunately, several loan service providers have risen up to the occasion, one of which is the iCredit loan app. iCredit is one of the real-time loan service providers that’s transforming the old method of long queues and collateral or grantors. In this article, we covered the loan service provider, how you can apply as well as other important things you need to know.
Let’s dive in!
iCredit loan app is an online loan service in Nigeria that offers secure and flexible loans from as low as N1,000 to as high as N50,000 in a matter of minutes. Basically, the whole process can be completed on your smartphone in a matter of 5 minutes. However, the exact amount of loan you can borrow depends on your credit score. The iCredit loan app estimates your credit score using information obtained from your phone to verify your identity.
The iCredit loan app offers the following loans:
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The app is available on both Android and iOS and you can download it following the steps below:
You can apply for an iCredit loan by following the process below:
The exact interest rate of iCredit loans varies between 5% and 30% per month with an advertised one-time origination fee that ranges between N1,000 and N6,000.
For every deadline you miss on your loan repayment, the interest automatically increases by 2% per day. Therefore, it is important that you don’t default on your loan. Also, there is the negative effect it has on your maximum loan amount, as it reduces the total amount of loan you can borrow.
In addition, iCredit could also report you to the Credit Bureau if you default for too long, which may lead to a blacklisting of your BVN. This action would affect your ability to borrow loans from other lenders in Nigeria.
You must satisfy the following requirements to be able to borrow from iCredit:
You can contact iCredit through any of the following means:
Email: support@goodicredit.com
Phone: +2348021810034
The iCredit loan app is one of the easiest ways to afford quick loans in Nigeria. Basically, all you need to do is download the app, register, and apply for a loan. If approved, you’d be embursed in minutes. However, be sure to repay on time to avoid penalties and for access to higher loans in the future.
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