Taking out a quick loan can be a good option for debt consolidation, or if you are low on cash, this can be the best option for you. This is why getting Newcredit loan is the best option. As with Newcredit, you do not have to worry about getting loans with ease.
It is known for having an easy loan application process that can be completed within a few minutes.
On Newcredit, you can borrow quick loans up to N100,000, and once you qualify, you will get the loan disbursement within the same day of application.
However, you need to have a good credit score to be eligible for any loan amount. They also have a competitive interest rate and an excellent repayment plan that suits every borrower.
How Does Newcredit Loan Works?
Newcredit loan isn’t hard to get. Before you can apply for a loan, you need to download the official app and register for an account.
To determine the loan amount that you qualify for, you need to submit your bank details, and your credit score will be checked. Once approved, you will receive the loan disbursement in your bank account.
Requirement to Apply for Newcredit Loan
Before you are eligible for any loan amount with Newcredit, you need to meet some necessary requirements, which include:
- A good credit score
- You must be a citizen of Nigeria
- An active bank account
- You must be between the ages of 18 and 55
- You must be able to link your debit card to your Newcredit account
Once you meet the above requirement, you can apply for the loan amount that you qualify for on the Newcredit app.
How to Download the Newcredit Loan App
Before you can apply for any loan amount from Newcredit, you need to download the official mobile app. This is available on the Google Play Store. Follow the procedures below to download the app:
- Launch the Google Play Store on your device.
- Use the search bar to look for Newcredit loan app.
- Then tap the install button.
- The app will automatically be installed on your device.
After following the steps above, you will be able to download the Newcredit loan app on your mobile device. Then you can register for an account to be able to apply for a loan amount
How to Sign Up for an Account on Newcredit
Before you can apply for a loan amount with Newcredit, you need to download the mobile app and then sign up for an account. Then follow the steps below to register for an account:
- Launch the Newcredit app on your mobile device.
- Use your mobile number to open an account.
- Enter your home address and employment details.
- Next, enter your next of kin.
- Then you enter your BVN.
And then you link your ATM card to your Newcredit account. Once this is complete, you can then apply for any loan amount that you want from the Newcredit app.
How to Apply for Newcredit Loan
After signing up for an account with Newcredit, you can now apply for any loan amount that you qualify for. Follow the guide below to apply for a loan:
- Launch the Newcredit app on your mobile device.
- Login to your account.
- Provide your bank details.
- Submit your loan application by tapping Withdraw.
Then your credit score will be checked by the platform, and they will determine how much you are eligible to borrow. Once you are qualified, you will receive the loan disbursement in your bank account.
Is Newcredit Legit?
Newcredit is legitimate, and they have only positive reviews from their borrowers. You can get the loan amount the same day that you applied for the loan.
However, make sure that you go through the terms and conditions of the loan before you agree to the loan amount and have a proper understanding of what you are applying for.
Newcredit Loan Repayment
After the loan period is over, the next step is to repay your loan. You can do this from the official loan app by following the steps below:
- Launch the Newcredit app.
- Login to your account.
- Then you search for the loan repayment button.
- Choose the method of repayment, and then make payment for your loan.
It will be advisable to make payment for your loan before the scheduled time to avoid any late repayment fees. If you are having any trouble making payments for your loan, you can reach out to the customer support team.
Loan Companies Like Newcredit
You would be thrilled to know that there are several quick loan apps like Newcredit where you can apply for a loan the same day and get approved. Here are online loan apps like Newcredit:
- QuickCheck
- OKash
- Payday Advance
- Ease Cash
- Umba
- Palmcredit
- FairMoney
- Lendigo Loan
And many more. The above mentioned are online lenders like Newcredit, you can visit their official website to get more information about them.
Newcredit Customer Service
If you want to make enquiries about Newcredit loan services, you can always reach out to their customer support team and they will respond to you with immediate effect.
You can visit their official website https://web.newcredit.loans/ to get their official number or you can email them at deeoemmah4098@gmail.com
FAQs
How Long Does It Take to Process a Newcredit Loan?
Typically, after submitting a loan application, it takes a few minutes to get an approval or disapproval decision. According to Newcredit, credit limit applications are decided by their automated system. Once you’re approved, the money will be deposited into your bank account.
Can I Make Early Repayment?
One of the ways to build your credit score is to pay off your loan on time. Newcredit offers a revolving line of credit. This means that you can take another loan as soon as you pay off your outstanding loan.
What is the Consequence for Default on a Loan?
Just like other lending platforms, Newcredit reports a borrower’s loan repayment to credit bureau agencies, which they use to determine your creditworthiness.
In other words, if you default on paying back a loan, it will adversely affect your ability to apply for loans in the future, not only from Newcredit but from other lending institutions.
Can I Change My Loan Repayment Date?
Before you choose a particular date to repay your loan, be sure that you’ll be able to pay on that day because any day you choose is fixed and cannot be changed.
Newcredit doesn’t allow borrowers to reschedule their repayment dates. Hence, you should only borrow funds if you are sure you have the means to pay within the agreed-upon period. If you make a late payment, a disciplinary late fee will be charged on your loan.
What is the Interest Rates on Loans?
Newcredit loan has a competitive interest rate that ranges from 4% to 24% and an annual interest rate of 24% to 56%. The interest rate also increases by day, and you should try as much as possible to make payment for your loan on the scheduled date.
