Helping Nigerians with hassle-free financial solutions
Newcredit, a finance application developed by NEWEDGE FINANCE LIMITED, is a free tool tailored to enhance the financial well-being of Nigerian citizens. It enables effortless access to online loans via mobile devices, helping users borrow money whenever needed.
The Newcredit app features a straightforward and user-friendly interface, making the loan application process a breeze. You can secure a loan with a few easy steps, and the funds will be swiftly deposited into your bank account. Offering loan amounts ranging from ₦10,000 to ₦300,000 this platform provides a flexible repayment period customized to meet your needs.
Tailored loans for diverse Nigerian financial needs
Newcredit is a Nigerian mobile lending application that offers customers quick and convenient access to loans. With the flexibility to borrow any amount between ₦10,000 and ₦300,000, it's an ideal solution for fulfilling diverse financial needs. What's more, you can secure a loan without the requirement for collateral. Borrowers can customize their repayment schedules, enjoying flexibility from 91 days to 365 days.
This flexibility lets you choose a repayment period that suits your financial situation and personal preferences. The minimum annual percentage rate or APR is set at 24%, while the maximum annual interest rate is capped at 54%. It's important to note that these rates might vary based on the selected repayment duration. However, these rates are relatively high compared to other loan apps in the market.
For instance, let's take the scenario of borrowing ₦100,000. If you opt for a six-month loan at a four percent monthly interest rate, the total interest will amount to ₦24,000, resulting in a repayment total of ₦124,000. To be eligible for this loan, you must be a Nigerian resident aged between 18 and 60, with valid identification documents. It's crucial to mention that this loan app is exclusively accessible within Nigeria.
Access loan at your fingertips
Newcredit is a Nigerian finance app helping users access mobile loans seamlessly. It caters to diverse financial needs with a user-friendly interface and loan amounts ranging from ₦10,000 to ₦300,000. Eligibility is straightforward, requiring Nigerian residency and a valid ID. This loan app is exclusively available within Nigeria, making it a convenient choice for those seeking quick and hassle-free loans tailored to their financial circumstances.
