The demand for loans in Nigeria has been on a constant rise due to economic reasons. Several loan service providers have risen to the occasion, one of which is the iCredit loan app.
iCredit loan app is an online service in Nigeria. It offers secure and flexible loans. The loans range from N1,000 to N50,000. You can receive the money quickly. The entire process can be done on your smartphone in just 5 minutes.
However, the exact amount of loan you can borrow depends on your credit score. The iCredit loan app checks your credit score by using data from your phone to confirm who you are.
What Are The Types of Loans Available in The iCredit Loan App?
The iCredit loan app offers the following loans:
- Direct personal loans
- Mortgage loans
- Car loans
- Credit card loans
- Medical loans
- Loans on two wheels
- Travel loans
- Mini money loans
- Loans against guarantee
- Sustainable consumer loans
- Mobile phone loans
Get a loan up to N100,000 at the best affordable rates in Nigeria
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How to Download the iCredit Loan App?
The app is available on both Android and iOS and you can download it following the steps below:
- Visit the Google Play or Apple store
- Search for iCredit loan app on the search bar and send
- This would load a page with results, of which you would select iCredit loan app
- Click install on the detailed page of the iCredit loan app
- Open the application and register
How to Apply For iCredit Loan?
You can apply for an iCredit loan by following the process below:
- Download, install and register on the iCredit app following the steps above
- Login to your account and supply the basic necessary information, then submit
- Select apply for a loan and supply all the necessary information
- If your credit score meets the requirement, your loan would be approved and the money deposited into your bank account
- Lastly, note that your loan limit increases for every loan your borrow and repay on time
What is iCredit Loan Interest Rate?
iCredit loans have an interest rate that can be as low as 5% or as high as 30% per month. They also charge an origination fee that can range from N1,000 to N6,000, which is only paid once.
What Are iCredit Loan Eligibility Criteria?
You must satisfy the following requirements to be able to borrow from iCredit:
- Must be a legal citizen or resident of Nigeria
- You must have a verifiable source of monthly income
- Must be a minimum of 20 years and a maximum of 60 years old.
What Happens If You Default Your loan?
If you don’t meet a loan repayment deadline, the interest goes up by 2% each day. Therefore, you mustn’t default on your loan. Additionally, it lowers the loan amount you can borrow by reducing the total loan amount.
iCredit may report you to the Credit Bureau if you default for too long. This could result in your BVN being blacklisted. This action would affect your ability to borrow loans from other lenders in Nigeria.
How to Contact iCredit?
You can contact iCredit through any of the following means:
Email: support@goodicredit.com
Phone: +2348021810034
Bottom Line
The iCredit loan app is one of the easiest ways to afford quick loans in Nigeria. Basically, all you need to do is download the app, register, and apply for a loan. If approved, you’d be embursed in minutes. However, be sure to repay on time to avoid penalties and for access to higher loans in the future.
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