New Credit Loan App – Your Convenient Personal Loan Platform in Nigeria

New Credit Loan App is a reliable and efficient personal loan platform designed to meet your diverse funding needs in Nigeria. With our user-friendly application process, you can easily apply for a loan on our platform and receive the approved amount directly in your bank account within minutes.

Credit Loan App Loan Details

At Naira Loan, we offer the following loan options

  • Loan Amount: You can borrow amounts ranging from 1,000 to 100,000 Naira to suit your financial requirements.
  • Loan Term: Choose a loan term that best fits your repayment capabilities, with options ranging from 91 days to 365 days.
  • Interest Rate: Our interest rate is 30.6% APR (Annual Percentage Rate), equivalent to a daily interest rate of 0.085%.
  • Handling Fee: A handling fee of 2% applies to the loan amount.

Credit Loan App Example

Let’s consider an example to illustrate the repayment structure

Suppose you borrow 30,000 NGN with a maturity date of 120 days, which translates to 4 monthly repayment periods. The interest payable would be calculated as follows:

Total interest = borrowing principal * daily interest * maturity date

Total interest = 30,000 * 0.085% * 120 = 3,060 NGN

The total debt would be the sum of the principal, interest, and handling fee:

Total debt = borrowing principal + interest + handling fee

Total debt = 30,000 NGN + 3,060 NGN + 600 NGN = 33,660 NGN

The repayment amount per period can be calculated as:

Repayment amount per period = total debt/number of repayment periods

Repayment amount per period = 33,660 NGN / 4 = 8,415 NGN

Loan Qualifications

To be eligible for a loan from Naira Loan, you must meet the following criteria

  1. Resident of Nigeria
  2. Aged between 20 and 55 years
  3. Have a stable source of monthly income

Credit Loan App Safety and Security

At Naira Loan, we prioritize the safety and security of your personal information and transactions

  • All transactions are encrypted with 256-bit SSL to ensure data security.
  • Your information is sent via a secure connection, and we do not share it with any third party without your permission.

Contact Naira Credit Loan App

If you have any inquiries or need assistance, please don’t hesitate to contact us

Customer Service Email: [email protected]

Address: 12 Celestial Road, Satellite Town, Lagos

Discover More Loan Apps

Explore other loan apps that might suit your financial needs

  • Swift naira — Easy Loan APP
  • Enjoy loan-safe & credit loan
  • Mr. Money is a Safe And Secure
  • BGloan Legal Cash Loan
  • SoftNaira Helps You Apply For a Personal Loan

Each of these apps offers unique features and benefits to provide you with a convenient borrowing experience.

Leave a Reply