If you need an instant loan to meet your urgent financial needs, Renmoney may be a good option to consider. Getting a loan from Renmoney is straightforward and hassle-free because the loan application can be completed online.
Borrowers can apply for Renmoney loan through the loan app or by visiting Renmoney’s official website. There is no paperwork or guarantor required because they offer collateral free loans to their users. In this post, we are going to show you the step by step guide on how you can apply for the Renmoney.
Let’s get started…
Eligibility Criteria For Renmoney Loan Application
To qualify for Renmoney loan, applicants are expected to meet certain requirements, the eligibility criteria are outlined below:
1. Age: Must be between the age range of 22 – 59 years.
2. Identification: You must provide valid means of identification like Voter’s card, NIN, Driver’s license, international passport etc.
3. Income: You must have a reliable and stable income source.
4. Account Statement: You must provide your bank account statement for at least 6 months.
5. Utility Bill Receipt: Evidence of your utility bill payment will also be needed for your residential address verification.
6. Bank Account: An active bank account with a positive account balance will be needed.
7. A Bank Verification Number(BVN) is a must.
8. You must have a passport photograph.
9. You must not have an outstanding debt with any financial institution.
10. Residing within Lagos and its environs will be an added advantage.
Related: How to unblock Renmoney account
How to Apply for Renmoney Loan
Applying for Renmoney loan is quite simple and hassle-free because the loan application process can be completed online without need for endless paperwork. The loan application process can be completed digitally through Renmoney mobile app or via their official website. Follow the steps below to apply for the Renmoney loan:
1. Go to Renmoney’s Official Website or Download the App from App Store
If you don’t have the Renmoney mobile app, just visit the official app store to download & install the app, or better still you can visit their official website at www.renmoney.com, at the homepage you will then click on ‘’Apply Now”.
2. Register an Account to get Started
At the Renmoney account creation page, you will need to enter relevant details like your full name, email address, contact address, phone number etc.
After registering an account with Renmoney, tap on ‘’Apply Now’’ tab which will automatically take you to the Renmoney loan application page.
3. Choose Loan Amount that is Suitable for You
Once you’re on the Renmoney loan application page, choose the loan amount that is suitable for you with the sliders provided. Once you select the amount, the interest rate & repayment amount will be shown on the page.
4. Complete the Loan Application Form
Now, you will need to fill the loan application phone with the required details like your BVN, residential address, phone number, income details, employment status etc.
5. Upload Required Documents
Unless you’re applying for business loan, you don’t need to upload supporting documents but if you are applying for business loan, you will need to upload necessary documents like utility bill receipt, bank statement, valid ID, and CAC certificate if your business is registered.
6. Review and Submit Your Loan Application
The final stage in applying for Renmoney loan is to review your loan application and if everything is correct then you will proceed to submit it by clicking on the submit button.
Once you’re done submitting, you will need to wait patiently for Renmoney to review your loan application and make a decision, you will get a reply from Renmoney on the status of your application within 24 hours. If you’re qualified for the loan, the loan amount will be disbursed to your account.
Read also: How to contact Renmoney customer care
Getting a Renmoney loan is quite simple because the application process can be completed online without need for paperwork. Borrowers can apply for the loan through the Renmoney loan app or by visiting Renmoney’s official website. Once you follow the simple steps outlined in this article, you will be able to access Renmoney loans with ease. Borrow responsibly and spend wisely.