NewCredit loan requirements shows that you need to share your employment details, such as your job title, the name of your employer, and how long you have been employed. This information is important because it helps the app assess your ability to repay the loan.
Introduction
NewCredit is a loan app in Nigeria that many people trust and know well. With over 5 million downloads and approval from the Central Bank of Nigeria (CBN), it promises an easy way for people to get loans whenever they need them, without much hassle.
The app aims to make borrowing money simple, allowing users to apply for loans from ₦10,000 to ₦300,000.
One of the good things about them is its flexible repayment options. Users can choose to pay back their loans between 91 days and 365 days.
This is helpful because it gives borrowers more time to manage their payments without feeling rushed. Many people appreciate this flexibility, especially if they have other financial responsibilities.
However, not all experiences with them have been positive. Some users have reported serious problems, making them question the app’s reliability.
One customer said their experience was very frustrating and called the app a “total fraud.” They reported issues when trying to repay their loans using a debit card.
Often, the payments did not go through, and they ended up being charged twice for the same amount. This can be confusing and stressful, as the app might show only one payment while taking money out of their account twice.
Another major complaint is the lack of customer support. The same user mentioned trying to contact customer service for help but received no response.
They also emailed the company and were promised a refund for the extra charges within seven days, but that refund never came. This kind of support is important for users who need help, and not having it can make the borrowing experience much worse.
In summary, while NewCredit offers a quick and easy way to get loans in Nigeria, potential users should be careful.
There are reported issues with repayment and customer service that could cause problems. It is important for anyone thinking about using this app to be aware of these concerns. They should be prepared for possible challenges and think about whether this app is the right choice for them.
History and overview
NewCredit is a loan app owned by Newedge Finance Limited. It has been active for five years and is fully approved by the Federal Competition and Consumer Protection Commission (FCCPC).
The CEO and founder of NewCredit is Yarden Barsheshet, who leads the company in helping people get loans easily.
With them, users can borrow up to ₦100,000 in just five minutes. This quick service is great for people who need money fast for emergencies or other needs.
The app is designed to make borrowing simple and fast, so users don’t have to wait long for help.
they also focuses on helping entrepreneurs and people who want to start their own businesses. The app provides coaching and resources to help users understand how to manage their credit.
This support is important because it empowers users to take control of their finances and grow their businesses successfully.
Over the years, it has gained a reputation as a trustworthy financial tool in Nigeria. Many people use the app to get the money they need quickly and easily.
Its focus on customer service and financial education makes it different from other loan apps. By offering guidance and support, they helps users not only access loans but also learn how to handle their money better.
In summary, it is a helpful loan app that makes it easy for people to borrow money in Nigeria. With fast loans and support for entrepreneurs, it is a valuable resource for anyone looking to improve their financial situation.
Requirements
Download the App or APK
You need to download the NewCredit app, which is available for both iPhone and Android devices. You can find it in the app store for your device.
If you are using an Android phone, you can also download the APK file directly from a trusted source. This flexibility allows many users to access the app easily, regardless of their device. Once downloaded, you can begin the loan application process right away.
Link Your Valid ATM Card to Your NewCredit Account:
You must link a valid ATM card to your NewCredit account to apply for a loan. This is important because the app uses your card information to process loan repayments and verify your identity.
Make sure the ATM card is active and has sufficient funds to avoid any issues. Linking your card helps ensure a smooth experience when you borrow money and pay it back.
Provide Details of Your Next of Kin:
You need to give details about your next of kin when applying for a loan with NewCredit. This includes their full name, relationship to you, and contact information.
The next of kin serves as an emergency contact and helps the app verify your identity. Providing accurate information is important, as it ensures a smooth loan process and can be useful if the app needs to reach someone on your behalf.
Home Address:
You must provide your home address when applying for a loan with NewCredit. This helps the app verify your identity and residency. Make sure your address is complete and accurate to avoid any issues during the application process.
Employment Details:
You also need to share your employment details, such as your job title, the name of your employer, and how long you have been employed.
This information is important because it helps the app assess your ability to repay the loan. A stable job shows that you have a reliable income, which increases your chances of getting approved for a loan.