Want updated details about New Credit Loan App, how to download the apk, the ussd code, their interest rate and how to borrow money from the new credit app?
This post gives you all the information you need in order to get quick loan from new credit loan app
Technology has made it relatively simple to secure loans in the present day. You can receive a loan using only your phone in less than 5 minutes.
NewCredit loan app is a platform that enables you to access credit when you need it. The apk provides Nigerians with fast loans. Here in this post, you’ll learn how to apply for a loan using this application.
About NewCredit Loan App
NewCredit loan is a legitimate and safe mobile credit service platform. Through their app they provides rapid loans of up to N100,000 within few minutes.
This loan is incredibly easy to obtain because there is no collateral requirement. Simply download the app, register, and submit a loan application. Here is how to proceed.
Requirements
Before you obtain a loan on the NewCredit loan app, you must satisfy the following criteria:
- You must be a citizen or legal resident of Nigeria.
- Be between the ages of 18 and 55 and have a reliable monthly income source.
- You must be willing to link your valid ATM card to your NewCredit account and provide your next of kin’s info.
- You must have an excellent credit score and no outstanding loans from other lenders.
How to borrow money from NewCredit apk?
To borrow money from NewCredit, all you need is download their app and register.
After your credit limit is determined, you will be able to take a loan within your credit limit jn minutes. Once you pay off your pervious loan, you can apply a new loan immediately.
If your loan application is not approved, don’t give up! You can try again in some days time.
How to Apply for New Credit Loan
Now, Here is how to apply for NewCredit loan:
- Step 1: Download the New Credit app from the Google Play Store first and Install it on your Android device immediately.
- Step 2: Create an account on the app. You need to provide some personal information like your first and last name, home address, work information, and email address.
- In addition, you will need to submit your BVN and link your ATM card to your NewCredit account.
- Click the “Withdraw” button to submit your loan application. The NewCredit app will then evaluate your credit score and show your credit limit.
- The final result of your credit score will decide the loan amount you are eligible for. After observing the outcome, the specified amount will be deposited into your bank account.
- You may encounter difficulties when attempting to link your Verve ATM card with your account. Therefore, you must utilize a MasterCard or Visa ATM to make the transaction less stressful.
New Credit Login
You can only login on NewCredit via their app. As at this time, new credit does not have any website or portal where customers can login except through their app.
To log in on the app is straightforward, however, sometimes you may encounter some login error. Always ensure you enter the correct login details and that your app is UK to date.
NewCredit Interest rate
New Credit Loan interest rates range from 4% to 24%, and annual interest rates range from 24% to 56%. Also, consider that your loan’s interest rate increases daily.
Therefore, you should make every effort to repay the debt on time. Additionally, timely loan payback grants you access to a larger loan amount the next time you borrow.
New Credit app download?
To download the NewCredit loan app, follow these steps:
Visit the Google Play store on your Android smartphone. This software is exclusive to the Google Play store.
Next, conduct a search for “New Credit.”
Download and install the application, then apply for a loan.
Is NewCredit Legit?
The NewCredit loan apk is legitimate and can provide speedy loans, but the interest rate can be too expensive.
Here’s what they have to say about themselves: “When using Newcredit, your data is always secure. Our platform uses world-class standard security and encryption technology to protect all details. When you provide us with information, you can also be assured of your privacy – our loan agreements are always kept confidential.
Newcredit apk never shares your information with third parties unless it is for dedicated business purposes, such as reporting defaulted loans to authorized credit bureaus. We do not sell your data or credit profile.”
Read the terms and conditions as well as customer reviews prior to applying for their loan so that you have a complete grasp of what you are applying for.
How to Repay a New Credit Loan
There are several options for making new credit loan repayments. Below are the available options:
Automatic Deduction
On your due date(s), your repayment will be conveniently deducted from the account linked to the bank card provided during your loan application. Partial deduction is supported.
Prepayment
If you prefer to make a repayment before your due date, you can open the Newcredit app and click repayments on the home page. Choose the contract that you want to repay and enter your Newcredit PIN to complete the repayment.
Transfer to NewCredit Account Number
You can transfer your repayment amount to newcredit account number.
For transfers Not Done inside the Newcredit App, kindly include your Offline Repayment Code in the comment section.
Whichever method you use, note that your new credit loan repayment will be confirmed & updated to your loan account within 24 hours
If you have any issues during this procedure, you can contact NewCredit customer support. Below are details regarding customer support.
FAQ
Why was my loan application rejected?
There are a few reasons behind loan application rejections. The most likely reason is that the newcredit app did not receive sufficient data to score your application.
Ensure you are login to New credit app using your main mobile device, and also keep your data on while using the app in order for us to determine the best possible loan offer for you.
Another possible reason is that you may not have shared all of the information required in the application or provided invalid details.
However, there can be other reasons. As a lender, NewCredit take steps to ensure they only extend credit to applicants who can afford it. It is possible that at this time, you don’t match the profile of the individual they normally lend money to.
Negative repayment patterns on previous obligations (including Newcredit loan apk) can also limit access to credit, or make it more expensive to obtain.
Whatever the situation, you may need to keep NewCredit app installed and retrying in 1-2 months, as the criteria of these decisions are constantly refined.
What happens if I can’t make a payment on my due date?
It’s understandable that financial circumstances can change suddenly. However, it is important to note that NewCredit does not reschedule repayment dates and you should only take a their loan if you are certain you have the means to repay within the agreed period.
There may be fees associated with late repayments. In addition, defaulters may be reported to national Credit Bureaus and this can severely affect your ability to access loans from other lenders in future.
Why is your bank account information required?
NewCredit loan app request your bank account details as this is where it will disburse your loans to and where your repayments will come from.
Note that bank accounts you link to Newcredit must be your personal bank accounts that have been registered in your name and are linked to your BVN.
My loan status shows ‘Disbursed’, but I am yet to receive funds in my account.
Funds are typically received within a few minutes of receiving disbursement confirmation. We recommend checking that the bank account provided is a personal account.
We also advise checking your account balance directly as credit alerts are not always received with transfers.
Conclusion
The NewCredit loan app is a legitimate Nigerian lending platform that provides quick access to loans of up to N150,000.
In addition, no collateral is required to acquire a loan on this site. Follow the steps as given above for a thorough instruction on how to receive this loan.
