NodCredit Loan App Review and Interest Rate

On this page we will review the NodCredit 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 NodCredit loan and also how to repay NodCredit loan.

NodCredit Loan App Review

NodCredit Loan App Review

NodCredit is an instant loan app that provides instant loans to Nigerians. They are efficient, reliable and distinct from other loan apps.

Get quick loans of upto N50,000 for first time borrowers. Lowest Interest.

NodCredit offers both employed and self-employed, business persons and corporates quick loans starting from N10,000 to N50,000 for first time borrowers. Returning customers can access upto 300,000.

Their Interest ranges from 1% – 16% per month. For multiple tenors accessible to returning customers we charge on reducing balance at lower interest.

Some of its unique features are:

Pause Option: you can defer your repayment date for 30 days if you run into any financial difficulties. You can defer for as many times as possible.

Custom repayment schedule - unlike the other lenders, we allow you settle your loan in split payments, pay parts of your loan whenever you have it.

Is NodCredit Loan App Legit or Scam

NodCredit loan app is legit and genuine. Many people have been using it to get instant loans. If you notice any irregular transaction contact NodCredit customer service.

Is NodCredit Loan App Safe

NodCredit app is very safe and secured. All your information are protected, privacy is guaranteed and transactions are secured.

When you download NodCredit, they will ask for your permission to scan your financial location data and other information in order to verify your identity, creditworthiness, and provide you with an instant loan.

They also use this to help you better understand and improve your finances with them.

They take privacy seriously - all data you choose to share with them is encrypted and your personal data will never be shared without your consent.

NodCredit Loan Interest Rate

Loans range from 10,000 to 300,000 with terms from 62 days to 180 days.

With an equivalent monthly interest of 1% – 16% and APR (Annual Payment Ratio) of 12% - 96%.

If your loan is for 3-months and your borrowed N150,000, if NodCredit charges you a returning customer interest rate of 10% per month on your reducing balance. You will pay:

- 1st month: N65,000.
- 2nd month: N60,000
- 3rd month: N55,000

This is a gross interest rate of 20% and an equivalent monthly interest of 6.6% for each month on your fixed balance of 150,000.

Remember you can also pause the pause and defer payments for another month.

How Much Can I Borrow From NodCredit Loan App

You can borrow between 10,000 naira to 300,000 naira.

Requirements To Get a Loan From NodCredit Loan App

To get a loan from NodCredit app:
  • You must reside in Nigeria
  • You must have a BVN
  • You must have a source of income
  • You must be between 22 to 55 years

How To Apply For Loan On NodCredit Loan App

To borrow money from NodCredit app:
  • Install NodCredit app
  • Sign up with your BVN. BVN spooled data will be used to pre-populate some of your personal data
  • Add your card (N20 will be charged for card tokenization) and bank account details
  • Apply for your loan
  • Wait for a few minutes.
  • If your loan is approved. You receive cash instantly in your provided bank account.

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

It takes few minutes to hours depending on the amount.

How To Repay NodCredit Loan

Simply login to the NodCredit app, go to the repayment option, choose a repayment method you are okay with to repay the loan.

NodCredit Loan Customer Care

Address:10a Iweanya Ugbogoh Crescent Lekki Phase I, Lagos. Nigeria.