The Renmoney app is a loan app in Nigeria that fast-tracks credit disbursements and loan applications. It gathers information seamlessly, confirms and verifies loan applications, and disburses money within 24hours. The app is available on Android only, customers can easily download the Renmoney loan app from the play store.
The Renmoney microfinance teams are experienced personnel, from multiple industries that work together to deliver the best to their customers.
About Renmony
Renmoney is a group of finance and technology-driven individuals who are passionate about making financial inclusion count.
Mission and vision of Renmony
Renmoney strives to understand its customers and leverage data, technology, and innovation to provide extraordinary service experiences.
Renmoney is Nigeria’s most effective lending company – providing excellent service experiences.
Remmoney is very committed. It is constantly studying and reinventing the solutions built, how it works and how it serves customers to align with its values.
Their offer
As a loan application, it has some requirement rules and guidelines that enable it to run smoothly. Users can apply for a conventional loan to meet their various needs, like growing their small business, renovating their home, buying a new car, paying rent, school fees, medical bills, etc.
RenMoney extends unsecured cash loans of up to NGN2.5 million to customers for up to 9 months, to either salary earners or self-employed as long as they can provide a verifiable source of income.
The interest rate of Renmoney varies depending on the method of loan repayment. If the applicant takes a longer time to repay the loan the interest rate will be higher. For instance, an annual repayment can attract up to a 33.9% interest rate, but it will be lower than that if the loan is paid back within 3-6 months.
This method is adopted by Renmoney to make its customers eager to pay back their loans quickly. This is not just only for Renmoney. It’s also a similar case with other loan companies like palm credit, C24 loan, Branch loan, Fairmoney, Okash loan, Page Financials, Pay later, and so on.
The penalty is a daily regular charge of N300 including weekends and public holidays. They might also be forced to alert employers and next of kin of the customer who takes a loan without paying at an agreed time when they are unable to reach the said Customer.
Consecutive defaulting will affect the credit rating with the Credit bureau agencies which will prevent Customers from accessing loans from other financial institutions.
Loan ELIGIBILITY CRITERIA
• Applicant should be between ages 22 – 59 years.
• Applicant should have a steady source of income that is verifiable and Reliable.
• Applicant must have an active current or savings bank account.
•Applicant must be confirmed staff in present employment.
• Applicant must have a recognized identification – International Passport, Driver’s License, National ID Card.
• Applicant must live and or work in Lagos State.
• Applicant must not have a history of returned cheques to their account.
• Applicant must have a clean Credit Bureau Report.
• A recent passport photograph (should not be later than six months)
• Applicant Salary bank statement for the last 6 months ( it must be stamped by the bank).
• Utility Bill ( Water bill, PHCN, LAWMA bill OR Rent Agreement)
Phone Number
0700 5000 500
Office Address
23, Awolowo Road Ikoyi, Lagos.
Customer care Email
Hello,
Great job you are doing here.
I am wondering if you are open to writing about Page Financials customer care numbers and email as well.
Good Evening Miss/ Mrs Divine.
I have been away for a while which make me not to see this Email, sorry the reply is coming late, we are available for all kind of content writing job
I await your reply
Thank you and kind regards from us
I have been trying to log in to renmoney through my account but the security question they brought for me to answer is not what I chose, I don’t know why is so difficult to log in ?
Good afternoon,
After download the app on my andriod phone i cant bind/link my verve sterling bank atm card on the app to enable me apply for loan.
Tel: 07039597522.
Thanks.
How to I obtain a soft copy of letter of a non indebtedness after clearing my loan?
Please I will like to collect a loan and I want to know the interest rate and how to pay back, for example i will like to collect 200k. thanks waiting for your response.
Good Evening Mr Ubaba Mathias
Regarding your Question about Renmoney interest rate.
On every amount you borrowed they is an interest amount of 2.9% monthly.
If your loan amount is 200k that makes the interest amount to be 5800 each month. That also depends on how long your loan is going to take, for instance if it a one year period the amount you are paying back will be 269,600.00.
Regarding how you will pay back, during your application of the loan you are to provide your card details, so you will make sure when it’s time for the loan repayment the card your provided is funded with the money, Renmoney will do the debiting themselves.
I hope my explanation will guide you on how to go about it
Thank you and kind regards
Hello my name is Tahir Sunusi Muhammad the sim of application is lose I try to open my apps is not open because of of top to send is not see
Am trying to make a payment and I have been trying to log in the app but I keep getting messages that user blocked after asking for security question for almost 3 hours I still have not gotten any OTP code
I called the customer care line 6 times today after saying a should wait And would be transferred to support team they end up dropping the calls
Good day sir/ma….I’m finding it really difficult to create my transaction pin on the app “it keeps showing invalid fields provided” and when I tried using browser my face verification too wasn’t approved it was showing “invalid fields provided” I urgently need your reply thank you
I have repaid my outstanding loan and my account is not yet updated.. which am unable to apply for another loan.. please urgently need ur assistance…