How to Borrow Money from Renmoney – Renmoney Loan USSD Code

Are you looking for How to Borrow Money from Renmoney easily and the Renmoney Loan USSD Code? Then read this.

Renmoney is a Microfinance Bank and a financial technology company licensed by the Central Bank of Nigeria. 

It was formerly known as RenCredit before it was changed to Renmoney in 2013 after its inception in 2012. Renmoney has its head office in Lagos, with several other offices across Nigeria.

Renmoney offers financial aid to individuals and businesses that meet the criteria without requiring collateral, a guarantor, or even property documents. 

This digital platform offers loans with flexible repayment options and low-interest rates.

Also, You don’t need to visit their head office in Lagos to secure a Renmoney loan! 

With just your smartphone and internet connection, you can apply for Renmoney loans and receive instant payment upon approval.

Hence, we will discuss How to Borrow Money from Renmoney and Renmoney Loan USSD Code, in this guide. 

Eligibility Criteria for borrowing money from Renmoney

While Renmoney offers loans to individuals and businesses with little or no bottleneck, it’s important to note that they still require borrowers to meet certain criteria.

To be eligible for an instant online loan from Renmoney, you need to meet the following requirements:

• You must be a citizen of Nigeria and currently reside in Nigeria.
• You must be at least 22 years old but not more than 59 years old.
• You must have a steady and reliable source of income to ensure that you can repay the loan.
• You must live or work in any of the cities where Renmoney operates.
• Having a good credit score can increase your chances of getting your loan application approved quickly.
• You must not owe any other loan platform or be blacklisted by the credit bureau.
• You must have a bank account (savings or current bank account) with any commercial bank of your choice.

If you meet these simple criteria, you can apply for a loan from Renmoney and receive instant approval without any hassle.

So, if you’re in need of some financial aid, Renmoney has got you covered!

Documents Required to Get Renmoney Loan

Before we discuss How to Borrow Money from Renmoney and Renmoney Loan USSD Code

Let’s go over the documents you’ll need to provide when applying for a loan from Renmoney!

Renmoney requires the following documents to assess your creditworthiness and approve your loan:

• A valid government-issued ID card such as a driver’s license, passport, or national ID card.
• A bank statement for the last 6 months.
• A utility bill from the last 3 months to verify your home address. This could be a PHCN bill, waste management bill (LAWMA, etc.), water bill, cable bill (DSTV), rent agreement, etc.
• Passport photographs.
• Your Bank Verification Number (BVN).

When you provide these documents, Renmoney can assess your eligibility for a loan and approve your application quickly. 

So, make sure you have all the necessary documents ready before applying for a loan from Renmoney.

How to Borrow Money from Renmoney 

Are you ready to apply for a loan from Renmoney? Here’s a step-by-step guide to help you through the process:

• Visit the website

The first step is to visit the Renmoney website. At the moment, the website is more user-friendly than the mobile app for loan applicants. 

Once you’re on the website, click on the “Apply Now” feature.

• Complete the application form

After clicking on “Apply Now,” you’ll be redirected to a page where you can fill out the application form. 

You’ll be asked to select the loan amount you need, your employment status, and other necessary information.

• Upload your documents

As we mentioned earlier, Renmoney requires certain documents to verify your creditworthiness before approving your loan. 

Once you’ve completed the application form, you’ll need to upload these documents for verification.

• Get credited

If your application is approved, you’ll receive the loan amount in your bank account within 24 hours. 

Renmoney offers flexible repayment options, so you can choose a repayment plan that suits you.

• Visit any of the branches

If you have any questions or need further assistance, you can visit any of the Renmoney branches near you for help.

Once you’ve completed your application, you’ll need to wait a few minutes for approval or rejection.

The Renmoney management team will review and verify your application. 

If everything checks out, your loan will be approved, and you’ll receive the funds in your bank account within 24 hours.

Conclusion on How to Borrow Money from Renmoney – Renmoney Loan USSD Code

Getting a loan from Renmoney is a straightforward process that can be done online or in-person at any of their branches. 

You can borrow between N50,000 and N6,000,000, and the repayment period is flexible, ranging from 1 month to 12 months. 

The interest rate for Renmoney loans is 33.9% per year on average. 

Repaying your loan on time is important for building your credit score, and you can use the Quickteller portal to make payments easily. 

So, if you need financial aid, Renmoney is a reliable option to consider!

However, If you don’t have a smartphone or prefer applying in person, you can also visit any of the Renmoney branches across the country, and their staff will guide you on how to secure the loan.

So, whether you prefer applying online or in-person, Renmoney has got you covered. 

With their flexible repayment options, low-interest rates, and hassle-free application process, you can get the financial aid you need without any stress.

We hope this article on How to Borrow Money from Renmoney – Renmoney Loan USSD Code is helpful. 

FAQS

How much can I borrow from Renmoney?

You can borrow between N50,000 and N6,000,000 from Renmoney, as long as you meet the eligibility criteria and adhere to their terms and conditions.

What is Renmoney’s interest rate?

The interest rate for Renmoney loans depends on the principal amount and the repayment plan you choose. 

However, the average interest rate is 33.9% per year.

What is the loan tenure for Renmoney?

Renmoney offers flexible repayment options, and you can choose a repayment plan that suits you. 

The repayment period typically ranges from 1 month to 12 months.

How do I repay my Renmoney loan?

Repaying your loan on time is important for building your credit score and avoiding any unnecessary drama or threats from other loan apps. 

As part of the terms and conditions of the Renmoney loan application, you’ll need to repay your loan on time.

To repay your loan from Renmoney, you can use the Quickteller portal. 

It’s a quick and easy way to make payments online, so you can focus on other things.

What is Renmoney’s USSD code?

Renmoney’s USSD code is 723#. To apply for a quick loan from Renmoney, simply dial 723*73001# on your phone. 

However, make sure your phone number is registered with Renmoney as an active payment method to avoid any issues.

Where is Renmoney’s head office located?

Renmoney’s head office is located at 23 Awolowo Road, Ikoyi, Lagos, Nigeria. 

So, if you need to visit Renmoney in person for any reason, you can head to their office at this address.