Renmoney loan app is a mobile loan application that provides individuals with a high yield fixed deposits and convenient Personal and Micro-business Loans. With the renmoney app, you will be able to apply for a loan without collateral, all you need is just your mobile phone and an active internet connection.
In our previous guide, I revealed all you need to know about umba digital app, which comprises of multiple functions and also have loans as part of the services offered. Today, I am going to reveal to you, all you need to know about the renmoney app.
This article is going to enlighten you on how to use all the services offered by the app, ranging from how to apply for a loan, how to repay renmoney loan, how to download and register on the app, the renmoney loan interest rate, renmoney customer care number and all the basic information you need to know about the app.
About renmoney app
Renmoney is a fintech lending company located in Lagos state, Nigeria and operating under a Microfinance Bank license. Renmoney offer personal and business loans from ₦6,000 to ₦6,000,000 to employed and self-employed individuals as well as high interest savings and fixed deposits.
The Renmoney app gives you instant access to quick loans, savings and investments with competitive interest rates. This implies that the application is configured to offer more than just a loan, it gives you the opportunity to save and earn competitive interest on your savings.
You can get a quick loan on the Renmoney app in just a few steps. Renmoney loans are for employed or self-employed people as well as business owners. On this note, if you need an instant personal or business loan, you can borrow from ₦6,000 to ₦6,000,000 and repay in 3 to 24 months.
Other features of renmoney app
As it has been stated in the previous part of this guide that the app is designed for multiple functions and offer more than just a loan, in this section, I am goiy to outlined other features of the app, outside that of loan.
Below are the other features that are available on renmoney app:
You can set up a Smart Goal and save towards milestones that matter to you or set up a Save Easy plan and save what’s convenient. Whatever plan you choose, you’ll earn considerable amount of interest on your money, the interest will always be stated when you’re about to create a particular savings plan on the app.
To create a plan on the app, simply login to your account and click on the create button at the bottom of the app homepage. You will be provided with two options on the next screen, This options are smart goal and fixed deposit respectively. Choose your preferred plan and follow the prompts to complete your savings plan.
Make your money work for you with a Renmoney Fixed deposit account. You will be able to invest your money for a fixed duration and earn attractive interest.
What you get with Renmoney Savings and Fixed Deposit
With the renmoney savings and fixed deposit, you will be able to earn up to 12% interest per annum, save and invest securely and on your own terms.
It will help you to build a savings habit and help you to set up automatic periodic savings.
Renmoney provides individuals with fast and convenient loans from ₦6,000 to ₦6,000,000 without collateral and gives you a flexible repayments duration, which ranges from 3 – 24 months.
When you apply for a loan on renmoney, the money will be sent to your bank account in minutes upon the approval of the loan application
Why choose renmoney
Renmoney is convenient and secure
You can see and access your account at any time
Renmoney is regulated by the Central Bank of Nigeria (CBN)
Your savings and deposits are insured by the Nigeria Deposit Insurance Corporation (NDIC).
The app provides you with longer tenure on your next loan
No collateral or guarantor needed
No hidden charges – you always see your loan terms before you commit
They keep it simple, no confusing language
Support team always available to help secure process.
Renmoney loan interest rate
With Renmoney you can apply for a loan of ₦6,000 – ₦6,000,000 without collateral and repay in 3 -24 months. Monthly interest rates range from 2.4% – 9.33% and the maximum Annual Percentage Rate (APR) is 35.76%. No other fees are charged.
How renmoney loan interest rate is being calculated
Let’s assume that you request for a loan of 2,000,000 Naira from renmoney loan app, set your loan tenure to be twelve months and your loan application is approved and you receive the money Into your provided bank account. The interest rate calculation will go as follows:
Loan Amount: ₦2,000,000
Loan Tenure: 12 months.
Number of Repayments: 12
Monthly Interest Rate: 2.4%
Monthly repayments: ₦214,667.00
Total amount payable: ₦2,576,000.00
Renmoney registration – How to register on renmoney loan app
To register on renmoney, all you have to do is to scroll down to the download section of this guide, download and install the app on your mobile phone.
Open the app and click on the register button as shown in the picture above. You will be redirected to the registration name, enter your valid name, phone number, email address and choose a password, them click on the register button again.
An OTP will be sent to your mobile phone number and the email provided during the registration, check the OTP from either of your mailbox or phone message box and enter the OTP Into the box provided on the renmoney app and click on verify now button.
Once you are ably to verify your number by providing the OTP, your registration has completed, simply click on the continue to profile button to complete your profile set up, so that the app can have more information about you to help them in taking decision whenever you want to borrow or do any transaction on the app.
Renmoney loan login
To login to your renmoney account, all you have to do is to Open the app and enter your account password. Once you enter your password, you will be taken back to where you left the app.
If your phone supports the use of fingerprint, you can regain access into your account with the use your fingerprint.
How to apply for a loan on renmoney app
To apply for a loan on the renmoney app, simply login to your account and click on the loan button at the bottom of the app, click on get started and answer some basic questions about yourself.
Once the loan is being approved, you will get the money in your bank account and the repayment date will start counting down.
How to repay renmoney loan
To repay your outstanding loan on renmoney, simply Open the app and click on loan, you will be redirected to your active loan, where you will see the outstanding amount and the the due date.
Click on the repay button, choose a payment method that is convenient for you and folly the prompt to complete the repayment.
Renmoney loan app download
Having gone through the detailed y about the renmoney loan app, the next thing is to download the app and get it installed on your mobile phone, so as to explore the app futher and get to understand better about it’s product and services.
In this section, I am going to provide you with there direct link to download the app from the Google play store.
Name Renmoney loan app
Version Latest Version
Service Digital Loan and Wallet
In this section, I am goiy to provide you with the renmoney APK download, this will give you the opportunity to select the download method that is best and convenient for you.
Name Renmoney APK
Version Latest Version
Service Digital loan and wallet
Customer information security and privacy
The Renmoney app has been developed using the best security and privacy standards to ensure absolute data security. When you download the Renmoney App, you will be asked for permission to verify your personal and financial information. Renmoney app is secure to use, and promised not to share your information with third parties without your consent.
Renmoney customer care number
If you have e issue you will like to get resolved very quick or have an enquiry to make about the app product and services, the best thing is to contact the app customer service and in this section, I am going to provide you with the renmoney customer care number and all the available channels with which you can get in touch with the support team.
Below are the available channels with which you can reach out to the renmoney customer service:
Email: [email protected]
Renmoney customer care number: 0700 5000 500
Renmoney website: www.renmoney.com
Renmoney office Addresses:
Ikoyi: 23, Awolowo Road Ikoyi, Lagos, Nigeria
Opebi: Pentagon Plaza, 23 Opebi Road, Ikeja, Lagos, Nigeria
Surulere: Kings Plaza, 80, Adeniran Ogunsanya Street, Surulere, Lagos, Nigeria
Conclusion: Renmoney loan app is a digital app that allows you to save money, invest for flexible returns and at the same time, apply for a loan without collateral or paperwork. With the information provided in this guide, I am sure that you should be able to use the app product and services without any form of issue.