Applying for a loan with Renmoney is easy! All you have to do is visit our website or download the mobile app and share some information about yourself to help us make a decision on your request
You can borrow up to ₦6 million and repay in up to 24 months.
You can apply for a convenient personal or micro-business loan
We make you the best loan offer you can conveniently repay based on what you earn. If you make repayments on time and don’t default, you’ll become eligible for a top-up and a higher loan amount for a longer repayment tenor.
We want you to have the best experience during your loan application so for now, you can apply for a Lite loan on our mobile app.
Not long at all. You’ll have money in your bank less than 24 hours after you provide the required information and get approved.
You don't need a guarantor to get a loan from Renmoney and with every early repayment you make, you become eligible for a higher loan offer.
As long as you meet our terms and conditions and make repayments early, your loan offer will continue to increase. It only drops when you default or make late repayments.
To qualify for a loan, you must be:Be between 25 – 59 years oldHave a verifiable source of incomeLive and / or work in cities where we operateHave a savings or current bank account with any commercial bank
Based on the documents provided by you, you do not meet the full requirements to access a loan. This could be due to several reasons including a credit check
Your debt-to-income ratio may not be able to accommodate your loan request. We'll make an offer that'll make repayment convenient for you
We evaluate all the information you provide using a statistically driven lending model. Your application most likely didn’t meet our lending criteria. You can always apply again in 30 days as we update our algorithms regularly.
To get a loan from Renmoney, you don’t need collateral.
To apply for a Lite loan, please download the mobile app. Once you have the mobile app, you can register and provide all the required documents to get a loan offer.
You don’t need to visit a bank to get a loan from us. From the comfort of your home, you can conveniently apply for a loan.
Our loans are available in selected cities in Nigeria. We’re working to increase the customers we serve and will communicate once we expand our reach.
No. You can apply for your Renmoney loan directly from our mobile app or website. We’re however, happy to assist if you have any questions, call us on 0700 5000 500 or send us an email at firstname.lastname@example.org
You qualify for a Renmoney loan based on the personal information you provide. The more accurate information you’re able to provide, the better your chances to qualify.
We use the information you provide to make a lending decision. To increase your chances of getting your loan approved, ensure you provide accurate details about yourself.
Once your application is approved, you will receive funds within 24 hours
We will require evidence of income via your bank statement to process your application.
You must be over 25 years and have a regular source of income to apply for a loan.
We request for your BVN to verify your identity and confirm that the account you registered with is yours. It is also a KYC requirement for all financial institutions by the Central Bank of Nigeria (CBN).
To know your BVN, dial *565*0# from the phone number linked to your bank account. Please note that your provider may charge N20 for each check.
Confirm that you’re using the same number linked to your BVN for your loan application and input the number in the correct format.
Yes we do
There are various reason why you won’t be able to add your card details, some of them are; 1. Your card will expire before the loan duration ends. Please use a card that can cover your loan tenure.2. The phone number you’re using isn't the one your bank recognizes. In this case, you’ll have to contact your bank to update your personal information and then notify us when it’s done.3. Your card is not enabled for online transactions. You would have to contact your bank to fix this.4. You have insufficient funds. During registration, we charge you a token to ensure the card is active. If any of the above doesn’t apply to you, please retry after a while.
We need your 6 months bank statement, a valid government-issued ID card and a utility bill
We accept a driver’s license, national ID card, voter’s card and international passport
A utility bill is a receipt or bill for services provided to your home - this helps us verify your home address e.g. PHCN, waste management (LAWMA, etc), water bill, cable bills (DStv), rent agreement, etc
Apologies for this and thank you for bringing it to our notice. Please share a screenshot of the error message with us via email@example.com so we can resolve it.
We need your bank statement to make a decision on your application. When you log in, we’re able to - collect your 6 months bank statement, make a quick, informed decision based on your account history, make an instant decision on your loan and send money to your account on approval within hours
We may have some difficulty verifying the number against the national database. Please try again or use a different ID if you have one. If you need help with this, please call 0700 5000 500 or email firstname.lastname@example.org
If you’ve set up card payments or direct debits, all you have to do is make sure your account is funded on your due date and we’ll collect your repayment. You can also transfer directly into your Renmoney account.
Please log in to your Renmoney app to view all details concerning your loan.
Please ensure that you inform us if you decide to make an early repayment. You can repay through:1. Paystack: Visit www.paystack.com/pay/renmoney2. Transfers: Pay into your Renmoney loan account via your commercial bank internet banking platforms [Tip: Check your app dashboard to see your account number]
If you previously registered a card and would like to change it, please send an email to email@example.com with the old and new card details.
To view any information concerning your loan, please log in to your Renmoney mobile app
Repayments may take up to 24 hours to reflect due poor internet connections. If it has been over 24 hours since you made repayment and it hasn't reflected, send an email with the transaction confirmation message to firstname.lastname@example.org. We will follow up and update your account.
The repayment date is defined during your loan application process. It's not possible to update it or extend the loan duration. If you become eligible for a top-up, we’ll let you know immediately
Yes you can repay either weekly or monthly - depending on the type of loan you’re on. We’ll automatically calculate and show you the amount you are to pay each installment.
Repaying late or missing repayments affects your credit rating and limits your chances of another loan - both with us and other lenders - as you’ll be blacklisted by the credit bureaus. Making prompt repayments improves your credit score which means you can get higher loan amounts at cheaper rates and for longer tenures.If you know you’ll have difficulty paying back your loan, please contact us a week before your due date to work out a repayment plan.
You’ll be able to immediately apply for another loan.
You can apply for a new loan immediately after or during (top-up) the tenure of your current loan.
There could be several reasons for this, please send an email to email@example.com to resolve this
Please send an email to firstname.lastname@example.org for details
Yes you can after making 6 successfully repayments
Please get a new debit card and send an email to email@example.com to request for a re-tokenization link or inform your account officer.
If your initial documents are still valid, we will only need your recent bank statement to process your loan request
You can always send us a direct message on any of our social media channels [Facebook, Instagram, LinkedIn and Twitter]. You can also send an email to firstname.lastname@example.org or call us on 0700 5000 500.
You either requested for the account to be suspended or have a bad loan history with us.
Visit www.renmoney.com/terms to know our terms and conditions.
If you experience any difficulty during your loan application, you can reach out to us on 0700 5000 500 or send us a mail email@example.com. You can also send a message through any of our social media pages (Facebook, Twitter, Instagram and LinkedIn)
You can always change your personal details on the app. If you find it difficult to make any changes to your details, kindly send us an email at firstname.lastname@example.org with your personal details with reasons why you want to make the changes
We evaluate applications using a statistically driven lending model that considers information from you and 3rd party sites e.g. credit bureaus. We also update our algorithms periodically
To edit your personal details, click on this link My Account or go to “My Account” and click “Edit” under “Personal Info”.
Your card details make your loan payment easy as we will automatically debit your card when your loan is due. We use encryption technology to protect information shared with us so your data is safe
All cards come with an end to end encryption that doesn’t give us access to your account. We understand that it's sensitive information and we have put measures in place to make our platform safe and secure.
If this happens, send an email to email@example.com or call us on 0700 5000 500. You can also sign in on another device as long as you recall your login details.
To retrieve your account, download the mobile app on your new device and sign in with your old details.
Renmoney is a fintech lending company operating in Lagos, Nigeria. We offer convenient personal & business loans of up to ₦6Million to individuals and small businesses. We also offer high interest rates on Fixed Deposits & Savings. Our business is regulated by the CBN and Savings & Fixed Deposits are insured by NDIC. Visit www.renmoney.com for more information
Your Renmoney Account is where you keep savings and spending money that you're not ready to lock away. You can withdraw and transfer money at any time, however, money left in your Renmoney Account will earn you 5% interest rate per annum.
You can view the interest rates applicable when you select a savings plan. Terms and Conditions apply.
The interest on your investment is calculated per annum and pro-rated to your selected tenure.
Not long at all, you'll receive your money shortly after you liquidate your investment
Yes, you can. You can add any amount at any time to your Renmoney account and Smart Goal. If you add more money to a Fixed Deposit, we will re-invest the sum of your old and new investment for the tenure you choose.
Yes, you can. Depending on the plan you're on, some charges may apply. For example, a penal charge of 30% of the total accrued interest will be charged on Fixed Deposit that are liquidated before the tenure ends. We'll inform you of any charges when you make a liquidation request.
Your investment is safe with Renmoney. We are regulated by the Central Bank of Nigeria (CBN) and insured by Nigeria Deposit Insurance Corporation (NDIC). We have a highly skilled team and a 100% payout rate on investments.
Please send an email to firstname.lastname@example.org and we'll take it from there