Here we will be focusing on how to borrow money from RenMoney Micro Finance Bank Ltd, with respect to investment.
No wise man would go to the bank to borrow money to solve or settle personal issues. Borrowed funds should be invested in a business with a possibility of reasonable ROI (Return On Investment), which brings to us. Have you got business ideas but faced with the challenge of funding it. Lack of funds to finance business ideas always seem a like a cog in the wheel between success and failure but never mind, RenMoney is here to bridge the gap between you and your dreams though am a bit skeptical about their monthly interest rate if I must confess.
Weather it be for school fees, cash load, house loan, with RenMoney, you can borrow as much as N2,000,000 to get that plan running in no time.
How to Apply For A Loan From RenMoney MFB Ltd.
- You should be between 22 and 55 years old.
- You must run an account (Current or Savings) with a commercial Bank in Nigeria.
- Applicant must live and or work in Lagos State.
- You must have a verifiable monthly income.
- You must have a clean Credit Bureau Report.
- You must not have a history of returned cheques in your account.
- One recent passport photograph (within the last 6 months)
- Salary bank statement for the last 6 months (must be stamped by the bank). Your bank can send it directly to RenMoney at [email protected]
- NUBAN Cheque leaves for the duration of Loan (agreed at branch) OR Filled Direct Debit Form
- Staff Identification card
- Pension OR Tax Identification number
- Letter of Employment, Confirmation, Promotion, Redeployment, Salary Increase OR Introduction Letter from Employer’s HR to RenMoney
- Utility Bill (PHCN, Water bill, LAWMA bill OR Rent Agreement)
- Valid Proof of Identification (current ECOWAS Passport, National Identification, Driver’s License or Voters ID)
- Renmoney interest rate is between 4% to 6%
You can take loans to a maximum of N2,000,000.00 and you must be gainfully employed to benefit from our loan products.
You can make an interim application on RenMoney website.
You will get an SMS once your loan has been approved based on your document verification. An email will also be sent to you with details of your Loan and account number. Just make sure you provide all your correct contact information to make the processing of your loan easy. If you have received an SMS, the funds would have been credited into your account.
You can renew your loan immediately you finish repaying an existing loan.
Another check towards abuse of loans is that one cannot apply for more than one loan at the point of your application, but you can apply for a top up loan after making one third installments on your current loan. A top up loan is an additional loan request that is added to your existing loan.
Please note that you cannot apply for multiple loans.
Renmoney Contact Addresses
Head Office: 89, Awolowo Road
Ikoyi, Lagos, Nigeria.
Surulere Office: Kings Plaza, 80,
Adeniran Ogunsanya Street,
Opebi Office: Pentagon Plaza, 23 Opebi
Lagos Island Office – 50 – 52, Broad Street, Lagos in CSS Bookshop House
Apapa Office: No. 13, Park Lane,
Call Center: [email protected]
Good-luck in your application.
To see some other platforms that can grant you load without collateral, see this post.