Due to economic factors, there has been an ongoing increase in the demand for loans in Nigeria. Several lending service providers, like the credit loan app, have responded to the challenge. One of the real-time loan service providers, iCredit, is changing the outdated lengthy lines and grantors or collateral process. We discussed the loan service provider, the application process, and other crucial information in this post.
A Description of the iCredit Loan App
An online lending business in Nigeria called iCredit Loan App provides safe and flexible loans from as little as N1,000 to as much as N50,000 in a couple of minutes. You can do the entire procedure on your smartphone within 5 minutes. However, your credit score determines the precise loan amount you qualify for. The iCredit loan app uses data from your phone to authenticate your identification while estimating your credit score.
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What Kind Of Loans Are Offered With The Icredit Loan App?
The following loans are available on the iCredit loan app:
- Personal loans directly
- loans for homes
- Auto loans
- Pay with a credit card.
- health loan
- loans for motorcycles
- Loans for travel
- Small-dollar loans
- loans secured by guarantees
- Long-term consumer loans
- loan for mobile phones
Where can I find the iCredit loan app?
Both Android and iOS users may get the app by following the instructions below:
- Visit the Apple Store or Google Play
- Use the search bar to look for and send iCredit Loan App.
- When a results page loads, choose the iCredit loan app from there.
- On the iCredit loan app’s details page, select install.
- Start the application and sign up.
How can I make an iCredit Loan application?
The Method listed below can be used to apply for an iCredit loan:
- Using the above methods, download, install, and register on the iCredit app.
- Select “apply for a loan” and complete the required fields after signing in to your account and providing the essential information.
- Your loan would be accepted, and the money would be placed into your bank account if your credit score satisfies the criterion.
- Last but not least, remember that every loan you take out and promptly return raises your borrowing limit.
What is the interest rate on an icredit loan?
With an advertised one-time origination charge between N1,000 and N6,000, the actual interest rate for iCredit loans fluctuates between 5% and 30% monthly.
What occurs if I don’t pay my loan?
The interest on your loan automatically rises by 2% daily for each day you extend your repayment deadline passed the due date. So, you must keep your loan from going into default. Additionally, it limits the total amount of loan you may borrow, which harms your maximum loan amount. If you default for an extended period, iCredit may also report you to the Credit Bureau, which might result in the block listing of your BVN. This move might impact your capacity to obtain loans from other Nigerian lenders.
One of the simplest methods to obtain short-term loans in Nigeria is using the iCredit lending app. You must download the app, register, and submit an application for a loan. You would be humiliated in minutes if approved. To avoid fees and to be eligible for larger loans in the future, make sure to make your payments on time.