Over the years, loan apps have gained immense popularity, aiming to provide better access to financial assistance for the under-banked population. These apps have been instrumental in meeting urgent financial needs effectively. One such app that deserves attention is iCredit loan app. Let’s explore this platform to understand how you can borrow from them.
An Overview of iCredit Loan App
iCredit loan app is a prominent online loan service in Nigeria, offering secure and flexible loans ranging from N1,000 to N50,000 in no time. The app provides a user-friendly experience, enabling you to complete the entire loan process on your smartphone without requiring collateral or physical branch visits.
The iCredit platform calculates your credit score using information obtained during the verification process, which primarily involves data from your smartphone. Based on this score, the platform determines your loan limit, allowing you to borrow money within this established limit.
What are the Different Types of Loans Available in the iCredit Loan App?
This loan app offers you the following types of loans:
- Direct personal loans
- Mortgage loans
- Credit card loans
- Car loans
- Loans on two wheels
- Medical loans
- Travel loans
- Loans against guarantee
- Mini money loans
- Sustainable consumer loans
- Mobile phone loans
Recommended: QuickCheck Loan – How to Get a Loan in 3 Steps
How do I apply for an iCredit Loan?
You can apply and obtain this loan by following the steps below:
1. First, download and install the iCredit mobile app from Google Play Store or iPhone’s App Store.
2. Next, register on the platform to create an account
3. Thereafter, log in to your iCredit account and apply for a loan. They will need you to provide other necessary information about yourself to facilitate approval.
4. Lastly, wait for the approval. If your credit score satisfies the necessary requirements, the platform will approve your loan and disburse it to your account.
Note that repaying your loan on time will increase your limit. Hence, if you borrow, make sure you reimburse on or before the expected date.
What documents do I need to register on the iCredit app?
To open a valid iCredit account for yourself, you have to give them these details:
- Full name and address
- Account number of a functioning bank account
- BVN
- Phone number (the number linked to your BVN)
- Employment details
- Family details
What is the Loan Interest Rate?
The typical interest rate of all iCredit loans varies from 5% and 30% every month. These loans have an advertised one-time origination cost that ranges between the sum of N1,000 and N6,000. However, note that your interest will continue to accumulate daily once your due date passes. The more you delay repayment, the higher the interest rate charged.
What happens if I Default on my loan?
Missing a loan repayment deadline will automatically increase your interest by 2% per day. Hence, you mustn’t default on your loan. Also, defaulting affects your overall loan limit negatively. Your BVN may even get blacklisted by the platform. If you are blacklisted, you won’t be able to access future loans.
What are iCredit loan eligibility criteria?
You must meet the requirements below if you want to qualify to borrow from iCredit:
- Must be a legitimate citizen of Nigeria who is also a resident
- You must have a legit and verifiable source of monthly income
- Must be at least 20 years old and at most 60 years old.
Check this out – PalmCredit Loan Review – Types & How to Apply
Benefits of using iCredit
Here are some of the amazing benefits of obtaining loans from the iCredit lending platform;
- Zero hidden charges and fees.
- You have a chance to borrow up to 50k instantly
- iCredit Loan is very secure, flexible and fast
- You can choose the most convenient option of repaying in instalments.
- No downtime or poor network. This Loan platform is available 24/7
How can I contact iCredit?
You can contact iCredit through any of the following means:
Email Address: support@goodicredit.com
Phone Number: +2348021810034
Official website: icredit.net.au
Headquarters Address: No.9 Oluwole Omole Street, Off Esomo, Toyin, IKEJA 100001, Lagos.
You can also call this phone number [+2348021810034] to reach out to their customer care service.
Bottom Line
If you are seeking an immediate solution to your financial problems, the credit loan app is one you should try. Loans on this app are easy to access, flexible, and collateral-free. However, before you think of taking out any loan, make sure you’ve figured out a way to reimburse it. It is better not to default on the loan so you can avoid facing any harsh penalties.
