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NewCredit Loan – How to apply for an instant loan 

Last updated on August 4th, 2023 at 03:49 pm

Nowadays, it is very easy to obtain loans all thanks to technology. You can obtain a loan in less than 5 minutes using just your phone. One reliable platform that enables you to access this offer is NewCredit. Basically, the NewCredit loan platform is a financial service app that provides instant loans for Nigerians. Here’s how to apply for a loan on this app. 

NewCredit Loan

An Overview of NewCredit Loan

NewCredit is a legit and secure mobile loan service platform in Nigeria. Basically, this loan platform gives you quick loans of up to N100,000 in 5 minutes. This loan is very easy to access as you can collect loans without any collateral. All you have to do is download the app, register, and apply for a loan. Here is how to go about it. 

How can I register and apply for the NewCredit loan?

If you want to apply for an instant loan from NewCredit, here’s how to go about it:

1. First, download the NewCredit app from Google Play Store. Then go ahead to install it on your Android device.

2. Next, open your personal account using your phone number and other basic information. This includes your home address, employment details, as well as your next of kin. 

3. Also, you must give your BVN (biometric verification number) and then link your ATM card to your NewCredit account. This will serve as a method of payment.

4. Thereafter, submit your loan application by clicking the “Withdraw” button. Once you do this, the platform’s algorithm will assess your credit score and show you the final result. 

5. The final result of your credit score will determine the amount of loan you can borrow. Once you see the result, you will receive the stipulated amount in your bank account. 

Note that you may experience difficulty when trying to link your Verve ATM card to your account. Hence, you need to use a MasterCard or Visa ATM to make the process less stressful for you. 

Get a loan up to N100,000 at the best affordable rates in Nigeria

Did you know that you can now you can compare interest rates from different lenders with our loan simulator and get the best deal? Making an informed loan decision requires comparing different loan offers before making a commitment. Through our simulator, you can see at a glance, loan offers coming from different lenders in less than 5 minutes, so you can make the right decision regarding your financing. Try it today

What are the requirements to borrow a loan?

Before you can borrow a loan on the NewCredit platform, you must meet the following requirements:

1. You must be a citizen of Nigeria or a Legal Resident.

2. Be between the ages of 18 and 55 and have a valid source of steady monthly income.

3. You should be willing to link your valid ATM card to your NewCredit account and give details of your next of kin. 

4. Your credit score should be good and you must have no outstanding loans from any other lender.

What is the NewCredit loan interest rate?

Basically, NewCredit charges you a monthly interest rate of 4%-24% and an annual interest rate of 24% – 56%. Also, note that the interest rate on your loan increases everyday. Hence, you should try as much as possible to pay back your loan on time. Timely repayment of loans also gives you access to a higher loan amount when borrowing next time.

Is NewCredit App Legit?

Yes, the NewCredit platform is legit and can give you quick loans, however, the interest rate is very high. Hence, before you apply for a low, read the terms and conditions as well as reviews from other customers for a proper understanding of what you want to apply for. 

NewCredit Loan Repayment – How To Payback Newcredit Loan

When your loan is due for repayment, do this:

1. go to the app and look for the loan repayment button then tap it. 

2. Next, select your method of repayment then pay back your loan

If you face any difficulty during this process, just contact the customer support service. You will find details of the customer support below. 

How can I download the NewCredit app?

To download the NewCredit app, follow the instructions below:

1. Using your Android device, visit the PlayStore. This app is only available on the Play Store.

2. Next, search for “NewCredit”.

3. Download, install the app, and apply for a loan. 

Read also: Credit Wallet Loan – Borrow instant loan within a few minutes.

How can I contact NewCredit?

You can contact NewCredit through the following ways:

Office Address: 45c Sobo Arobiodu St, Ikeja GRA, Ikeja, Lagos, Nigeria

Email Address:


Bottom Line

The NewCredit loan platform is a legit Nigerian loan platform that allows you to access loans of up to N100,000 in less than 5 minutes. Also, any loan you want to obtain from this platform is collateral-free. To get a comprehensive guide on how to access this loan, just go through the steps above. 

Do you need a loan? Be sure to visit this loan platform that allows you to compare loans from different lenders in minutes. It offers the best and ensures that you get nothing less.