NewCredit loan is a personal loan app that offers Nigerian unsecured loans up to N300,000. The app has an easy-to-use UI with a seamless loan application process. It uses artificial intelligence to analyze potential customers’ financial data, including the SMS of banking transactions on their phones and their credibility by other creditors. To qualify for a loan and get a high loan amount, you should always keep your bank transaction details on your phone.
About NewCredit Loan APK
Newcredit is a reliable and safe loan service in Nigeria, they provide loans to individuals in easy steps and no collateral is required. All you need to do is download the NewCredit Loan APK revealed in this guide, install it and register it with your basic information. Make sure that the information provided during registration is correct and that you can apply for a loan between 5,000 naira and up to 300,000 naira.
The fact that the app can provide you with a loan of up to 300,000 in one go makes it flexible and if you are looking for an online loan app then it is a good idea if you can check out the new credit loan app.
With the latest version of this app, receiving Newcredit loans becomes much easier and faster. Anyone looking for the latest version of this app should note the details here. Once you know the latest version of this app, downloading the Newcredit Loan app will be very easy for you.
Below are the features of the latest version of Newcredit’s loan application;
- Application Version: 10.0
- Last update: September 2021
- APK size: 40 MB
- Android version: 10.0
Basic Information About Newcredit Personal and Flexible Loans in Nigeria
In this section, I will give you all the basic information you need about this newcredit personal and flexible loan application, eligibility requirements, payment interest, loan term, and other important information you need to know about a new credit loan application.
How to apply for the NewCredit loan
- Download the NewCredit app from the Google Play Store and install it on your Android phone.
- Register an account with your phone number.
- Fill in basic information, including your home address, next of kin, and employment details
- You must also provide your BVN (biometric verification number) and link your ATM card to your account as a means of payment.
- Please note that you may encounter problems linking your Verve ATM card to your NewCredit account. Use a Visa or MasterCard as the app does not easily link to Verve ATM cards.
- After submitting your loan application, the algorithm will analyze your credit score and display the final result in the APP.
- Upon approval, the loan amount will be deposited directly into the bank account.
What are the requirements?
- Be a Nigerian Citizen or Legal Resident.
- Be between 18 and 55 years old.
- Have a source of monthly income.
- Link your ATM card to your account
- Provide the details of two of your next of kin, including their phone numbers.
- Have a good credit score with no outstanding loans from other lenders.
NewCredit loan interest rate?
Equivalent monthly interest rate 4% ~ 24%, annual interest rate (APR) at Newcredit is 24% ~ 56%.
Example: If you opt for a 6-month loan and apply for a loan of 100,000, Newcredit charges an interest rate of 4% per month. NGN loan interest: 24% and the APR is 48%. 180 Day Refunds of 24,000. The total amount paid is 124,000.
This interest rate is just an example, expect the amount and term of your loan to be significantly lower when you first borrow. You can increase your value by keeping good records and paying off loans on time.
Is NewCredit Loan App Legit?
Yes, the NewCredit Loan app is legit and gives loans to customers, but with extremely high-interest rates, especially for new borrowers. Before applying for a loan, read reviews from other customers in the Play Store.
The loan application process is safe and secure. NewCredit promises never to share customer information with anyone without permission.
Which NewCredit Loan App Can Improve?
The loan application process on NewCredit is simple and transparent, although the app collects a lot of information, such as your employment details and home address, last in your mailbox.
The loan rate in this app is manageable even for new borrowers, but the loan disbursement can be slow at times. Some customers have complained that they did not receive their loans in their account days after they were approved for it.
The payment gateway on NewCredit has many bugs. Most of the customers are frustrated and unable to repay their loans because the one-time OTP password sent to their phones does not arrive on time or does not arrive.
The customer service experience in this app is also very terrible. There is only one e-mail address available for complaints and messages sent to him often go unanswered.
Newcredit Loan Login – How to log in to a Newcredit loan account?
To log in to your new credit account, simply open the new credit app and you will be taken to your dashboard if your login session has expired, your login details will be requested, just enter them and you will be taken to your dashboard quickly.
NewCredit Loan Repayment – How To Repay Newcredit Loan?
Once you apply for a loan with newcredit and your loan application has been approved, you will see the loan breakdown on your dashboard, including the outstanding amount, due date, and other required information.
Find the NewCredit loan repayment button and click on it, all the available methods to repay your loan will be shown to you and now you can choose which method you want to use for the NewCredit loan repayment. If you encounter any issues during the repayment process, simply contact support using the information in the new loan customer service number section of this guide.
How to solve NewCredit repayment problem?
Most customers are unable to do NewCredit loan repayment because the OTP sent through the Paystack payment gateway often does not arrive on time or at all. The late NewCredit loan repayment fee is a punitive N600 per day for your loan, even if it is not your fault.
One way to get around this is to request the app’s official bank account and pay the loan there. Make sure the account you’re paying from is from the app to avoid paying fraudsters.
Newcredit Loan Website
If you will like to learn more about the Newcredit loan, you can visit the newcredit loan website. There are some websites that claim to be newcredit loan website so, you have to be careful not to go to the fraudster website.
Newcredit Loan Customer Care Number
If you encounter any problems during your registration or loan application, it is best to contact support and explain the problem and what you need to the customer service representative.
This is the only new credit loan contact number available for this loan app.
Newcredit Customer Service is available 24 hours a day, 7 days a week to assist you with your request in one of the ways described below:
- Service Email: firstname.lastname@example.org
- Newcredit loan app Office Address: 50c Sauket St, Ikeja GRA, Ikeja, Lagos, Nigeria
Newcredit loan app is one of the best loan providers in Nigeria that requires no collateral for your loan application just like iCredit loan app and you can borrow up to 300,000 from the comfort of your home. With the information in this guide, you should fully understand how the new loan application process works and how to submit and get a loan application approved without any stress.