Creditmesan, also known as 9Credit, is a mobile lending platform that provides short-term loans to individuals in Nigeria. The company was founded in 2017 and is headquartered in Lagos. Creditmesan offers loans of up to 50,000 Naira with repayment terms of up to 30 days. The interest rates for Creditmesan loans are typically around 20% per annum.Thank you for reading this post, don't forget to subscribe!
To apply for a Creditmesan loan, you must have a valid Nigerian ID card and a smartphone. You will also need to provide some basic financial information, such as your monthly income and expenses. The application process is quick and easy, and you can usually receive a decision within minutes.
If your application is approved, the funds will be deposited into your bank account or mobile money wallet within 24 hours. You can then use the funds for whatever you need, such as paying for unexpected expenses, covering a shortfall in your monthly budget, or consolidating debt.
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Creditmesan is a convenient and affordable way to get the short-term financial help you need. The company has a good reputation and is a registered member of the Lagos Chamber of Commerce and Industry. If you are looking for a quick and easy way to get a loan in Nigeria, Creditmesan is a good option to consider.
How can I register on Creditmesan and apply for a loan?
- Go to the Creditmesan website or download the Creditmesan app from the Google Play Store or App Store.
- Click on the “Register” button.
- Enter your full name, email address, phone number, and password.
- Read and agree to the terms and conditions.
- Click on the “Register” button.
Once you have registered, you can apply for a loan by following these steps:
- Click on the “Apply for Loan” button.
- Enter the amount of loan you need and the purpose of the loan.
- Enter your monthly income and expenses.
- Upload a copy of your ID and proof of income.
- Click on the “Submit” button.
Creditmesan will review your application and let you know if you are approved for a loan. If you are approved, the funds will be deposited into your bank account within 24 hours.
Here are some of the requirements for applying for a loan on Creditmesan:
- You must be a Nigerian citizen.
- You must be at least 18 years old.
- You must have a valid ID.
- You must have a bank account.
- You must have a regular source of income.
The interest rates and repayment terms for Creditmesan loans vary depending on your credit score and the amount of the loan. You can find more information about the terms and conditions of Creditmesan loans on their website.
What are the requirements to obtain a loan from Creditmesan?
- You must be a Nigerian citizen or a resident of Nigeria.
- You must be at least 18 years old.
- You must have a valid government-issued ID card.
- You must have a stable and regular source of income.
- You must be willing to link your active ATM card to your account.
- You must provide valid information about two relatives with their phone numbers.
- You must have an active standard bank account.
- Your loan application must be approved by Creditmesan.
Here are some additional details about the requirements:
- Your government-issued ID card must be one of the following: a Nigerian passport, a driver’s license, or a national ID card.
- Your source of income must be verifiable, such as a salary slip, a bank statement, or a business registration certificate.
- The two relatives you provide information about must be able to verify your identity and provide contact information in case of an emergency.
- Your bank account must be in your name and must have been active for at least 3 months.
The loan amount you are eligible for will depend on your income, your credit history, and the purpose of the loan. Creditmesan offers loans ranging from N5,000 to N500,000.
The interest rate on Creditmesan loans is 18% per annum. The repayment period is 3 to 12 months.
To apply for a loan from Creditmesan, you can download the app from the Google Play Store or App Store. You will need to provide your personal information, your income information, and the contact information of your two relatives. You will also need to link your active ATM card to your account.
The application process is quick and easy. Once you have submitted your application, Creditmesan will review it and let you know if your loan is approved. If your loan is approved, the funds will be deposited into your bank account within 24 hours.
What is the interest rate on Creditmesan Loan App?
The interest rate on Creditmesan Loan App ranges from 2% to 35%, with an Annual Percentage Rate (APR) of up to 2740.44%. The interest rate you are offered will depend on your creditworthiness and the amount of loan you apply for. The loan app also charges a service fee of 1% of the loan amount.
For example, if you borrow N50,000 at an interest rate of 25% and an APR of 1370.22%, you will have to repay N77,500 in total. This includes the principal amount of N50,000, interest of N27,500, and a service fee of N500.
It is important to note that Creditmesan Loan App charges a late fee of 8.8% of your outstanding loan amount if you fail to repay your loan on time.
Here is a table of the interest rates and APRs for different loan amounts on Creditmesan Loan App:
|Loan Amount||Interest Rate||APR|
It is important to read and understand the terms and conditions of Creditmesan Loan App before you apply for a loan. You should also make sure that you can afford to repay the loan on time, including the interest and fees.
What happens if I don’t pay back my loan by the due date?
- Late fees and penalties. Most lenders charge late fees for payments that are made after the due date. These fees can be significant, and they can add up quickly if you miss multiple payments.
- A drop in your credit score. Your credit score is a number that lenders use to assess your creditworthiness. When you miss a loan payment, it can damage your credit score, making it more difficult to get approved for loans in the future.
- Your loan going into default. If you miss enough payments, your loan may go into default. This means that you are no longer in good standing with your lender, and they may take steps to collect the debt, such as sending your account to a collection agency.
- A lien on your property. If you have collateralized your loan with property, such as your home or car, your lender may be able to file a lien against the property. This means that they have a legal right to take the property if you don’t repay the loan.
- A lawsuit. In some cases, your lender may sue you if you don’t repay your loan. If they win the lawsuit, they may be able to garnish your wages or seize your assets to collect the debt.
The specific consequences of not repaying a loan will vary depending on the lender and the terms of the loan. However, it is important to remember that failing to repay a loan can have serious financial consequences. If you are struggling to make your loan payments, it is important to contact your lender as soon as possible to discuss your options.
Here are some tips to help you avoid the consequences of not repaying a loan:
- Make sure you can afford the monthly payments before you take out a loan.
- Create a budget and track your spending so you know how much money you have coming in and going out each month.
- Set up automatic payments so you don’t miss a payment.
- Contact your lender if you are struggling to make your payments and see if they can work with you to create a payment plan.
By following these tips, you can help to ensure that you repay your loan on time and avoid the negative consequences of defaulting.
How can I download the Creditmesan loan app?
- Go to the Google Play Store on your Android device.
- Search for “Creditmesan”.
- Tap on the “Install” button.
- Once the app is installed, open it and create an account.
- Provide your basic details, including your phone number, BVN, and address.
- Upload a clear photo of your ID card.
- Once your account is verified, you can start applying for loans.
Here are some additional information:
- The Creditmesan loan app is only available on Android devices.
- The app is free to download and install.
- You must be 18 years old or older to apply for a loan through Creditmesan.
- The maximum loan amount you can borrow is NGN50,000.
- The interest rate on Creditmesan loans is 10% per month.
- The repayment period for Creditmesan loans is 30 days.
Creditmesan offers a convenient and accessible platform for individuals in need of quick loans. With a simple verification process that requires a photo of your ID card, you can start applying for loans and receive funds directly into your bank account. The Creditmesan loan app is only available on Android devices and can be downloaded and installed for free. However, it is important to note that you must be at least 18 years old to apply for a loan through Creditmesan, and the maximum loan amount you can borrow is NGN50,000.