Credit9ja Loan App download is here for both android and iPhone users inorder to enjoy all the financial benefits from Credit9ja Loan App
Credit9ja Loan App, a private lending platform for Nigerians, offers personal loans starting at N5000 and up to N500,000.
This platform offers after Credit9ja Loan App download has been completed, loans for personal use as well as short-term loans, which are usually available within 8 days to first-time borrowers.
Naira9ja, a relatively new app, has received over 10k downloads within its first month. It also receives a lot of positive reviews. AI is used to gather information about potential customers, including phone records, bank transaction alerts, BVN, and BVN, to determine the credit score for each borrower.
You will be able to get a loan, or higher amounts, if you keep accurate bank transaction messages and have no outstanding loans with other loan applications.
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How to download and apply for a Credit9ja loan
Install the Credit9ja App only available on Google Playstore, and then install it on your Android smartphone.
Register with your phone number to create an account
Please fill in the following information: Your residential address, next-of-kin, and employment details
Your Biometric verification number BVN will also be requested.
To increase your chances of getting a loan amount, you can attach your ATM card to an account.
To confirm your details, a one-time OTP password will be sent to you.
After you submit your loan application, the algorithm will analyze credit scores and display the final result in the APP.
The loan amount will be transferred directly to the bank account if approved.
The loan disbursement for Naira9ja loans is performed automatically so it should take less that 5 minutes.
Give details about two of your closest relatives, including their telephone numbers.
You have a high credit score and no outstanding loans from any other lenders.
Maintain an active Nigerian bank accounts
Interest rate for Credit9ja Loan App
Maximum loan amount: N5,000 – N500,000 Loan term: More than 91 days, while the longest is 365 days Rates above: 12%-50% APR You must be at least 18 to apply for a loan
Example: N8000 loan amount. The payment period is 180 days and the average interest rate is 19.8%. Total Interest should be N8,000 * 9.8% = N1584. The total amount due should be N8,000+N1584=N9584.
As an example, the interest rate and tenure are lower if you borrow for the first time. By keeping good records and repaying the loan on time, you can increase your loan amount.
Is the Credit9ja loan application legit?
Yes, Credit9ja Loan App is legitimate and offers loans to customers. However, the interest rates are very high for first-time borrowers. Before you apply for a loan, read reviews from other customers .
These loan applications are not registered with the CBN nor any other government agency in Nigeria. They are responsible for your transactions and you cannot seek redress for bad customer service.
Its availability on Google Play store does not guarantee that transactions made on it are secure. You are responsible for your security when using loan apps in Nigeria through the play store.
Security The loan application process is completely secure and protected. Naira9ja will never share your information without your consent.
What happens if I fail to repay my loan on time?
Late loan repayments are subject to a 2% daily fee. Therefore, it is important to adhere to the due date. You will be able to get larger loans if you repay the loan on time. You will not be eligible to receive larger loans or any other loan products if you make late repayments. You will be reported to First Central Credit Bureau if you are late with your payments. The First Central Credit Bureau could blacklist you, which may impact your ability to borrow money from other lenders.
Once they have successfully bound the repayment bank card, they will automatically subtract the repayment amount from their card if there is sufficient funds.
Paystack gateway payments can also be integrated into the app, enabling manual payment.
Your credit score can be improved by paying off your loans on time. This will give you more options for higher limits and longer terms.
How can the Credit9ja loan application improve?
Credit9ja offers a positive user experience. The loan application process is simple and easy.
The interest rate on this app is however a little high. Borrowers who are first time usually receive N4000 to repay N6000 in 8 days.
Mr Olawale Olokede is a registered loan officer and worked for over 10 years as a senior financial consultant for accounting, finance and business management firms in Nigeria. Mr Olawale Olokede implemented and supervised financial and loan solution to Lagos based small and medium scale businesses after lecturing at the Lagos Business school. He is channeled his writing skills and passion for blogging to set up Lending Naija with over 50 reviews on different loan application and downloads.
