While talking about instant online loans with no submission of any documents, and no bringing of a guarantor, Lcredit loan app is just one of many on the internet.
With a zero credit history, you can get anywhere from ₦5,000 and above disbursed directly to your bank account within just a few minutes.
Even though the company offers an effortless way of obtaining loans to sort out some financial stuff, your safety, the interest rate, their loan requirements, repayment process, customer support, and the trustworthiness of the lending company still need to be put into consideration.
That is why we’ve come up with this detailed post about Lcredit loan app review to show you all that you need to know before applying for a loan on Lcredit.
Are you ready to learn more? Then, let’s get started!
About Lcredit Loan
Lcredit is an online instant loan-giving platform where you can get from ₦5,000 to ₦50,000 with a relatively fair interest rate.
It is effortless to get a quick loan on Lcredit, as you can apply for and get your loan credited straight into your bank account within minutes.
One cool thing about Lcredit loans is that you don’t even need a guarantor, collateral, or excess paperwork before you can get a loan from Lcredit.
As long as you have a working android phone, you can get loans that can be repaid later as scheduled.
Talking about just an Android phone, Lcredit loan requirements are very flexible, although there’s more about those requirements.
Let’s find out.
Lcredit loan requirements
The first thing you need to know even before downloading the Lcredit loan app from Google Play Store, App Store, or on the internet is what is required before you can apply for a loan on Lcredit.
The following are all the essential requirements to get a loan on Lcredit.
- You must have an Android phone.
- You must have the Lcredit Loan App downloaded and installed on your android phone.
- You must be Nigerian, and reside in Nigeria.
- You must be at least 20 years old and not be more than 55 years old.
- The following is required too:
- A valid Bank account.
- Bank verification number (BVN).
- Bank Card (ATM Card).
That’s all. However, failure to meet all these requirements may lead to ineligibility for a loan on Lcredit.
Lcredit Loan Interest Rate
Compared to other loan apps, Lcredit offers a relatively fair interest rate of a maximum of 1% per day and an APR of 36 – 300% per year.
Keep in mind that other payments such as the origination fee may be included, which will make the amount to repay a little bit high.
If you choose a 91-day loan, payment terms have an origination fee of 39% and an interest of 2.7%. For the loan processed with a principal amount of NGN 3,000, the origination fee would be NGN 1,174, the interest would be NGN 81, and the total amount due would be NGN 4,255.
Is Lcredit Loan App Legit?
With active social media pages both on Facebook and Twitter, a real-time online chat service, and tons of downloads from Google Play Store and other App downloading sites, Lcredit loan app is definitely a legit lending company.
Unlike other loan apps, lcredit loan app has a website and also has a physical branch/office.
More so, they offer multiple customer support services such as email, phone calls, in-app live chat, and social media support.
How to Get a Loan on Lcredit – Lcredit Loan Application
With a simple app dashboard design, it is very easy to get a loan on Lcredit, as the first thing you need is an Android phone, and the Lcredit app installed on it (scroll down to see how to download and install the App).
After that, open the Lcredit loan app and follow the instructions below.
- Sign Up/Register a new account.
- On the app dashboard, click on the “Apply Now” button.
- Now, accurately fill in all the required information about you.
- Enter the loan amount you would like to get.
- Select your preferred loan term/duration.
- Then, the loan amount will be disbursed into your bank account if it was accepted. You can reapply it your application was rejected.
That’s how simple it is totally for and get a loan on Lcredit.
Since you need the Lcredit loan app to apply for a loan on the platform, let’s see how to download it.
Lcredit Loan App Download
I must say that if you’ve been seeing the Lcredit loan app online before, downloading it from Google Play Store could be confusing.
This is because of a colour change and the new upgrades the company made to the app.
Anyways, the link below will take you straight to the Lcredit loan app download page on Google Play Store. Just click on it.
How to Download Lcredit Loan App
Alternatively, you can download the older version of Lcredit loan app. I mean the one with colour green.
Yes, the Lcredit green colour app is still available online and it can be downloaded by clicking the link below to get you to the Lcredit loan app download page.
Lcredit Loan App Review
And here we come. Let’s discuss the Lcredit loan review that this post is mainly about.
First of all, Lcredit offers an instant online loan without collateral, which will be credited into your bank account within minutes.
The interest rate of Lcredit loan app ranges from 0.1 to 1 percent per day, and up to 300% annually.
Breaking it down, below are the pros and cons of the Lcredit loan.
- It has been around for a while and therefore has a reputation.
- It has a website, active social media pages, and outstanding customer service.
- Charges maximum of 10% interest rate monthly.
- Completely online with no collateral required.
- The registration process is smooth, fast, and easy.
- It regularly updates its app.
- It is a loan shark that threatens customers when they default on loan repayment.
- Has short repayment tenure starting from 7 days and high interest rate.
- Takes time to clear loans the dashboard even after repayment.
- Downloading the Lcredit loan app may be intimidating.
Here are some of what people have to say about the Lcredit loan app.
Lcredit Customer Care Number
+234 016310555 is the Lcredit customer care number. You can call them on that line and they’ll render assistance to any questions you ask.
Lcredit WhatsApp Number
The Lcredit in-app live chat feature could be considered as the Lcredit WhatsApp number.
This is simply because chatting with them online on the app is just like you’re chatting with them on WhatsApp, they are there to replay your message ASAP.
Lcredit Email Address
firstname.lastname@example.org is the Lcredit email address. You can send them a mail and they’ll reply as soon as possible.
Lcredit Nigeria on Social Media
Lcredit is just one of the few lending platforms in Nigeria that has an active social media page and also offers support via social media.
You can see them on the following social media platforms.
- Facebook – @Lcredit
- Instagram – @Lcredit.ng
- Twitter – @LcreditNg
- Pinterest – @LcreditNG
Lcredit Office Address
Lcredit is located and has its head office in Lagos, Nigeria.
Lcredit Loan – FAQs
What is Lcredit loan limit – How much can I borrow?
Lcredit loan amount ranges from 5000 naira to 50,000 naira.
How long does Lcredit loan approval take?
The information submitted will be reviewed in 24 hours, and the submissions will be reviewed in a few minutes.
What is the minimum amount I can borrow from Lcredit?
The minimum lcredit loan amount is 2,500 naira.
Will I pay more if I pay late my loan on Lcredit?
Until the Repayment date, if you have any unpaid bills on the loan, the overdue fee will be incurred.
Why was my Lcredit loan application rejected?
If the detailed information submitted is not true or the credit is not good; please fill in the information truthfully and maintain a good credit record, so that it will not affect your normal loan.
How genuine is Lcredit?
Lcredit loan app is very genuine and real. The company doesn’t look like one of those scammy loan platforms as they have active social media pages and multiple ways of contacting them.
How can I increase my loan limit on Lcredit?
Maintain a stable loan record, and please repay the loan as scheduled. We will increase your loan amount from time to time.
What do I need to get a loan on Lcredit?
You need to prepare personal information, work information, and your urgent contact information.
Lcredit is undoubtedly one of the most reliable online loan-giving companies in Nigeria where you need nothing more than your phone and bank account to apply for and get a loan.
I believe this post about the Lcredit loan app review should have supplied you with the information needed about the Lcredit interest rate, requirements, and the Lcredit loan app download.