Are you in a financial ditch or do you need money to sort out some pressing issues? Or have you requested assistance from known sources and been disappointed by their response?
Well, it’s time to cast your worry aside as I present to you Renmoney.
A fast, efficient, and legit loan app that was developed just for you. Do you want to know more about Renmoney and how to utilize its amazing features to solve your financial dilemma? If yes, this article is just for you!
What is Renmoney?
Renmoney is a microfinance bank in Nigeria that offers personal and micro-business loans through its convenient loan app. The app is available for Android users and allows for seamless loan applications, verification, and disbursement within 24 hours.
Renmoney prides itself on providing outstanding service experiences and has obtained a microfinance banking license from the Central Bank of Nigeria (CBN). They have multiple locations in Lagos, including Surulere, Apapa, Lagos Island, Ikota, Ikeja, and Ikoyi.
Renmoney Requirements
To qualify for a loan from Renmoney, you need to meet certain criteria, which include:
- Age: You must be between the ages of 22 and 59.
- Bank Account: You should have an existing and active bank account with a commercial bank in Nigeria.
- Employment or Business: You must be employed with a steady income or own a thriving business.
- Income Verification: Both employees and business owners must be able to verify their monthly income and have a clean credit history.
- Documentation: You will need to provide your bank statement for the past six months, a recent passport photo, and an identity card to prove your employment status.
- Clean Credit Bureau: Your credit history should be free of any issues, such as bounced cheques.
- Proof of Address: A utility bill not older than three months can serve as proof of address.
- Government ID Card: A valid and verifiable government ID card is required.
- Employment Confirmation: For employees, a staff ID card and a letter from HR confirming your employment are necessary.
- Bank statement: A stamped and signed bank statement for the past six months.
- Utility bill: An optional utility bill as proof of address.
How to Cancel Renmoney Loan Application
To cancel your loan application, you can follow these steps:
- Send an Email: Compose an email from the email address registered with Renmoney. Title the email “Request to cancel Renmoney loan application” and state your intention to cancel the loan application.
- Provide Information: Include your full name, date of birth, and the application number if available. You must provide a reason for cancellation.
- Send the Email: Forward the email to hello@renmoney.com.
Interest Rate
Renmoney charges an interest rate of up to 35.76% APR (Annual Percentage Rate) on its loans. It’s important to note that this interest rate is relatively high compared to other lenders.
USSD Code
Renmoney’s USSD code is *723#. To request a quick loan, you can dial *723*73001#.
Renmoney WhatsApp Number and Email Address
Renmoney does not provide a specific WhatsApp number. It’s best to contact them through their customer care phone numbers, 0700 5000 500 or 0700 73666639.
Hello@renmoney.com is the email address you can use to reach their customer support.
Renmoney Customer Care
Renmoney’s customer care can be contacted through the following phone numbers:
0700 5000 500
0700 73666639
Conclusion
It’s worth noting that Renmoney is a credible loan app that has been commended for its loan offerings and contributions to financial inclusion in Nigeria. However, some areas need improvement, such as customer service and the high-interest rates. Additionally, limited availability outside of Lagos may not be suitable for all borrowers.