Lcredit Loan App Review 2022: Everything Explained!

There are several mobile applications today that offer a loan to the public. Some of them are overhyped with low-quality service. But lcredit loan app service is amazing and stands out in the Fintech community in Nigeria as one of the secured micro loan providers in Nigeria.

Lcredit loan app is licensed by the Central Bank of Nigeria (CBN) to operate as a micro-loan service provider in Nigeria. This is what empowers them to collect some personalized information from is users  like Bank Verification Number (BVN), mobile phone numbers and data, email address, National/International Identification Information (i.e. National Identification Number (NIN), Driver’s Licence, etc.).

About Lcredit Loan App

Lcredit loan app is officially affiliated and managed by Cashigo International Ltd. For now, lcredit loan app is only available for Android mobile devices (i.e. mobile phones). The lending process is not difficult and takes about 10 minutes to 24 hours. Lcredit loan app download is super easy and the process is similar to that of other mobile applications.

How to Download and/or Install Lcredit Loan App

How to Download and/or Install Lcredit Loan App

To download lcredit loan app, go to any web search engine and search for “lcredit loan apk”, “l credit loan app download” or “l credit loan apk” depending on what you can remember. Click on the topmost the search results that pop and follow the download link/button provided on the websites or blogs that publish the lcredit loan apk.

Otherwise, go to Google Play Store and search for “l credit loan app”. The first result page will contain the links to sites where you can install the app. Do well to confirm that it is lcredit mobile app that you are installing so that you don’t make a mistake. To confirm that it is really lcredit personal loan app, look under the l credit loan app and you will find “CASHIGO INTERNATIONAL”. Once you have confirmed it, install the app, and signup!

On completion of your signup, you can proceed to request a loan on the l credit loan app. If your request meets the requirements for a loan, the loan sum will be disbursed into the bank account you provided while signing up. A great tip is to make sure you put in your correct detail while registering your account and while applying for a loan on the app.

Lcredit Loan App Reviews: What People Say About the App

A quick check on Google Play Store provides useful qualitative information about lcedit loan app. Presently, the loan app has 4.3 stars rating on overall rating with 63,229 total reviews on Google Play Store. L credit loan app offers a great service. Almost everyone is giving out 5 stars and recommending its service because of the easy-to-use lc credit loan app. Registration and fast payment is another place where the lc credit loan app is getting a high rating.

Lcredit Loan App: Interest and Repayment Tenure

With Lcredit loan app you can get good loans with a low-interest rate, good repayment duration. Besides, Lcredit loan app provides an adequate loan from ₦5,000 to ₦50,000 with a good repayment schedule. Lcredit loan app charges a service fee of 0.1% and sometimes it may vary and increase to 1% of the selected loan fee. The Loan tenure span is 91 and 180 days (3 -6 months).

On the l credit loan app, loan interest is calculated daily. This is why in most cases annual interest rates can range from 36.5% to 300%.

How to Download and/or Install Lcredit Loan App

Is This The Loan App For You?

So, if you are comfortable with paying 36.5% to 300% annual interest rate, which translates to 0.1% – 0.82% per day plus 0.1 -1% service charge then you can go for this loan app service. If not, you may consider trying other loan apps. A good example is the 9credit loan app. Another one is Okash loan app.

Understand also, that for the start you will not be paying a very low interest rate. It usually falls around 0.5% daily interest rate especially with shorter repayment tenure (i.e. 7 days). The fact is that the shorter your loan repayment tenure, the higher the daily interest rate you will be charged.

On the flipside, if you go for longer loan repayment tenure (i.e. 2 weeks or 1 month) your daily interest rate will drop but you will be paying a higher cumulative interest at the end of the day. So, it’s a dicey game!

You should only consider taking a loan from a loan app such as this if you cannot find alternative loan app services with comparatively cheaper interest rates and realistic loan repayment tenure. As a recommendation, you should checkout 9credit loan app or Okash loan app.

Who Is Eligible To Take A Loan?

Before a loan is processed and disbursed to a user, the eligibility status is thoroughly examined.. First, anyone who needs a loan must have an android device because for now, lcredit loan app is not unavailable on the iPhone.. Also, the applicant must reside in Nigeria. Third, applicant must be between the age of 20 and 55 years old. If you meet these basic requirements, you are eligible to request a loan from lcredit.

Beware of Imposters and Impersonators!

In a note released on the website of lcredit, Cashigo International Ltd., the company that facilitates Lcredit loan warns that some anonymous group of people are scamming unsuspecting members of the public. These miscreants who pose as lcredit agent even went as far as creating a fake Twitter, Facebook, and WhatsApp account with lcredit emblems to carry out their nefarious activities. Lcredit loan app warns that it will never send a personal bank account to its users to send repayment fees to and hence warns the public to beware and not to fall a victim to a scam.

Conclusion

This is all about the lcredit loan app.  To begin, you can download and install the lcredit loan app apk or do so from Google Play Store. For now, the app is not available for iPhone and other iOS users. The next step is to register and immediately after completing the registration You can proceed to apply for a loan. But take note of this tip: when registering, make sure that you fill out your correct and current details to help you get loan approval quickly.

Once your loan has been approved, the sum will be sent into your account within 10minutes to 24hrs. Enjoy the product. Repay your loan on time to be eligible for bigger loans.

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