MenaCred Loan App Review and Interest Rate

On this page we will review the MenaCred loan app. We will discuss if it is legit or scam, the interest rate, the amount someone can borrow, requirements and how to apply for MenaCred loan and also how to repay MenaCred loan.

MenaCred Loan Review

MenaCred Loan App Review

MenaCred exists to deliver credit with ease to Everyday People and Small Businesses.

At MenaCred, their different product variants are carefully thought through to meet customers at their current financial position.

For some, this means, No credit history! No problem!

MenaCred is focused in delivering financial access with ease to Everyday People and Small Businesses

Features available on the MenaCred App

  • Add money to your wallet from your Bank account or Card.
  • Transfer money to your bank account at no CHARGE.
  • Get personalized and dedicated bank account number for seamless repayment
  • Pay your bills

Is MenaCred Loan App Legit or Scam

MenaCred loan app is a very legit and genuine money lending platform with an excellent customer service.

Is MenaCred Loan App Safe

MenaCred loan app is very safe. All your details are protected and privacy is given.

MenaCred Loan Interest Rate

MenaCred offer loans from ₦5,000 to ₦150,000 to be repaid between two to six months at a monthly interest rate of 5% to 18% with APR from 60% to 180%.

A representative example of MenaCred Loan.

If you request for a ₦40,000 loan to be repaid in 90days (3months) on the MenaCred App at an interest rate of 18%.

Each month, you will pay back ₦15,733.33 per month. At loan maturity, you would have paid a total sum of ₦47,200.

How Much Can I Borrow From MenaCred Loan App

You can borrow between 5000 naira to 150,000 naira on MenaCred

Requirements To Get a Loan From MenaCred Loan App

To get a loan from MenaCred loan app:
  • You must be a Nigerian
  • Between the age of 21 to 55
  • Have BVN
  • Have a source of income

How To Apply For Loan On MenaCred Loan App

To borrow money from MenaCred take the following steps:
  • Go to google play store
  • Download MenaCred loan app
  • Register by providing the necessary information
  • Apply for a loan ranging from 5000 naira to 150,000 naira.

How Long Does It Take MenaCred Loan App To Give a Loan

It takes minutes to few hours for the loan request to be processed and disbursed.

How To Repay MenaCred Loan

Choose the repay loan option on the MenaCred loan app. Then select your repayment option.

MenaCred Loan Customer Care

To contact MenaCred, visit the contact us option on the app.