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Home Loan Menacred loan app: interest rate, how to apply, is it legit

Menacred loan app: interest rate, how to apply, is it legit

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Menacred loan app gives you a loan instantly in Nigeria. It doesn’t require any collateral or papers simply a smartphone You’re all set.

The loan process is extremely rapid once the application is approved, your account will be debited in just a few minutes. Menacred allows you to get up to $150,000 of loan at a time.

A requirement to obtain a credit from menacred

For menacred to grant you a loan, there are some requirements you have to meet the requirements, which are

Are you able to earn a living?

Have a bank account and bvn

Have a great credit score

Reside in Nigeria

Smart Pawn is a smart pawn that allows you is the app to get loan application

Menacred loan app
Menacred loan app

How do you apply for a menacred loans

To apply for the menacred visit the Play Store and download the application

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Enter your name, email address as well as other details

You will be asked to tie your ATM card. Do this and continue

After registration, you will be able to login to your dashboard

In your dashboard, locate and click on the loan

You will also see the what amount of loans you are eligible for

You can accept the offer and then be patient for the payment

What amount can you get through the app for menacred loans

With the menacred loan app, you are able to get anywhere from #5,000 to $150,000 without any collateral or paperwork However, as a first-timer you may not be able to get more than #30,000. This will grow as you continue to borrow money and repay.

Menacred rate of interest and repayment time

Menacred interest rate is based on the loan amount you receive, and ranges from 10% and 15 percent. Their repayment term is 7 days and 3 months. If you are a first-time user, your rate of interest will be very high and the repayment time will be shorter, however as you continue using the app, it will get better.

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Paying off your loan to menacles

To pay back your loan to menacred make sure you go to your dashboard

Find and click on the loan repayment

There are deferred options for repaying the loan

Click on one, and then pay

When you pay, it will be reflected on your dashboard

If not then get in touch with them.

What happens in the event of a default

If you default , you’ll be punished by an the increase in interest rates. If you failed to pay in full, your name, address, and other personal information will be forwarded to the credit bureau for blacklisting that means you will not be able to borrow again within Nigeria until you have paid off your outstanding debt and clear your name with the credit bureau.

Are menacred loans legitimate?

Menacred loan is legitimate They do provide loans to individuals within Nigeria however they do not have licensed by CBN. Be careful when you take loans from them.

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Our verdict on the menacred loan

Menacred loan is legitimate and they have a good rating on the Play Store, which indicates they’re doing things right. They make repayment simple for their customers, and you could even extend your payment time if you’re in need of money.

The main issue is that they don’t have a licensed by CBN.


Below is the procedure to submit an application to Menacred loan. As you can see, they offer loans to individuals however, since they do not licensed by CBN I would advise that you exercise caution. and only apply for loans that you are able to pay back in order to avoid having it.

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