How to get loan from lcredit
How do I borrow money from LCredit?
How to get/apply for a loan on Lcredit
- Register an account using your android phone.
- Submit your BVN information, no paper documents required.
- Get approval and apply for a loan.
- The cash will be transferred to you in minutes.
How much can I borrow LCredit?
You can borrow up to NGN 50,000. The amount you are eligible for depends on several factors, including your age, net monthly income, existing financial obligations, etc.
What is LCredit loan app?
LCredit, launched by CASHIGO is an instant personal loan app that helps with the required finance starting from ₦5,000 to ₦100,000. The registration is simple and the verification of documents is paperless. Once your eligibility is verified, the loan money will be credited to your bank account within 24hours.
Who is the owner of LCredit?
AKINWANDE ADEMOSU– MD/CEO – Credit Direct Limited.
How much is LCredit interest rate?
36.5% to 300%
App Description
Borrow money online with LCredit Loan app. Instant loan with a flexible repayment plan and favorable interest rate. ✔️ Annual interest rates from 36.5% to 300%. The interest rate is calculated on a daily basis.
Which is the best loan app in Nigeria?
Here is a list of top 7 mobile apps for online busines and personal loans in Nigeria.
- Paylater. …
- Palmcredit. …
- Branch. …
- QuickCheck. …
- Aella Credit. …
- FairMoney. …
- KiaKia.
Can loan app block my BVN?
Your BVN will be shared with the authorities and you will be blacklisted from using further loan products. 5. You might be tracked and traced with the information on your bank details though, not all loan applications do this.
Can a bank block your BVN?
Can my BVN be blocked? The CBN has the authority to block your BVN if they discover any illegal transactions or if they receive multiple credible reports of fraud associated with your bank account.
Can I go to jail for not paying online loans in Nigeria?
Yes, you can be arrested for not paying the loan once the payment is overdue or breach of contract for the loan.
Is Okash registered with CBN?
“They are not Nigerian companies, they don’t have an address in Nigeria and they are not registered in Nigeria with the Corporate Affairs Commission and they do not have any licence to do their business.”
Can I go to jail for not paying online loans?
The Bill of Rights under Section 20 of Article III of the 1987 Charter states that “no person shall be imprisoned for debt.” This means it’s illegal for lenders and debt collectors to have you arrested or jailed for not being able to settle your debt, according to Atty.
What if loan is not paid?
When you fail to pay off the borrowed amount even after a certain period of time, the lender will report your loan account as a non-performing asset (NPA) to the credit bureaus. This will severely affect your credit history and bring down your credit score as well.
What happens if a loan is not paid?
If You Don’t Pay
You’ll eventually default on that loan if you stop making payments. You’ll owe more money as penalties, fees, and interest charges build up on your account as a result. Your credit scores will also fall.
Is not paying back a loan theft?
A person can face criminal charges in a court of law if they commit fraud; however, taking out a payday loan and then not being able to pay it back is not a fraud. Fraud occurs when a person knowingly takes out a loan with no intention of paying it back. It’s a form of deceit.
Can you go to jail for debt?
You cannot be arrested or go to jail simply for being past-due on credit card debt or student loan debt, for instance. If you’ve failed to pay taxes or child support, however, you may have reason to be concerned.
Can the police get involved if someone owes you money?
No, debt collection agencies would not be interested in buying this sort of private debt. Can’t the police sue them and get my money back? No, the police will tell you this is a “civil” matter, not a “criminal” matter. They will probably suggest you go to your local Citizens Advice – which is a good suggestion!