9credit Loan App Review How To Apply For 9credit Loan

Sponsored Links

 9credit Loan App Review – How To Apply For 9credit Loan?

9credit Loan App Review – How To Apply For 9credit Loan?

One of the loan applications in Nigeria that enables people to apply for a loan online using only their phone is the 9credit loan app. There is no requirement for collateral, documentation, or any form of physical appearance.
I went into great length in our last guide about the KiaKia loan app, and today I’m going to go into great detail about the 9credit loan app, including how it functions, the interest rate, how to apply for a loan, how to repay a loan, and everything else you need to know.

What is the 9credit loan app?

A personal loan platform on mobile devices in Nigeria is called 9Credit. For consumers’ financial needs for things like buying a cell phone, paying bills, and other obligations, Loan App offers unsecured online loans.
The short-term, personal loans made available on this platform typically begin in 8 days for new customers.
Over 1 million downloads and unfavorable user ratings later, 9credit has been available on the Play Store for some time. In order to establish each borrower’s credit score, the app employs AI to gather information from potential users, including phone records, bank transaction notifications, and BVN.
Keep solid cash on hand and make sure you don’t owe any money to other lending applications in order to be eligible for a loan or higher.

How can I download and use the 9credit loan application?

  • Install the 9Credit loan app on your Android phone after downloading it from the Google Playstore.
  • Create a profile using your phone number.
  • Include your home address, next of kin information, and employment information in the form.
  • Additionally, your BVN biometric verification number will be required.
  • To boost your chances of receiving a larger loan amount, link your ATM card to your account.
  • To verify your information, a one-time OTP password will be issued to your phone.
  • The algorithm will review your credit score after you’ve submitted a loan application, and it will provide you the final outcome in the APP.
  • The loan sum will be transferred immediately into the bank account after approval.
  • The entire process on 9Credit only takes a few minutes because the loan payout is automatic.

What are the 9credit loan requirements?

  • Be a Nigerian Citizen or Legal Resident.
  • Be between 22 years old.
  • Have a source of monthly income.
  • Link your ATM card to your account
  • Provide the details of two of your next of kin, including their phone numbers.
  • Have a good credit score with no outstanding loans from other lenders.
  • Have an active Nigerian bank account
READ ALSO:   Easybuy loan : How to use, loan requirements & more

What Is 9credit Loan App Interest Rate?

I will go into great detail about the 9credit loan interest rate in this section so you will know what you are applying for and what interest rate you can anticipate on each loan application.
However, a base and standard interest rate of 9 credits is used in the computation provided in this section. When you are about to submit your loan application, you should try to verify the interest rate because it can change depending on how much you want to borrow and how long the loan will be for.

Breakdown of the 9credit loan offer and interest rate:

Loan amount: from NGN 3,000 to NGN 100,000;
Loan term: from 62 to 120 days;
Interest rate: 0.07% per day (25.55% per year);
Processing Fee: Ranges from NGN 90 ~ NGN 2,000 for a one-time fee, which depends on the loan amount and application details;
GST: 18% processing fee per policy and laws;
APR: up to 74.2% (annual rate including interest, processing fees, and VAT);


For a 62 day loan of NGN 10,000 for 2 months with an interest of 25.55% per annum,
Interest = NGN 10,000 * 25.55% / 365 * 62 = NGN 434
Processing Fee = NGN620
GST = NGN620 * 18% = NGN111
Total Amount to Pay = Loan Amount + Interest + Processing Fees + GST ​​= NGN 10,000 + NGN 434 + NGN 620 + NGN 111.6 = NGN 11,165.
APR = (NGN 11165.6 – NGN 10,000) / NGN 10,000 / 62 * 365 = 68.62%
The amount and period of this 9credit loan are only an example; when you borrow for the first time, you may anticipate that they will be substantially smaller. By keeping solid records and repaying loans on time, you can raise your value.

 Is 9Credit Loan App Legit or Scam?

Yes, the 9Credit Loan app is legitimate and offers loans to consumers, but the interest rates are astronomically high, especially for first-time borrowers. Check out the Play Store’s user reviews before submitting an application for a loan.
You should be aware that neither the CBN nor any other Nigerian government organization has registered or regulated these loan applications. There is no redress for subpar customer service, and you are in charge of the security of your transactions with them.
In addition, its availability in the Google Play Store does not make transactions conducted there secure. Play Store offers only one way to download, you are responsible for your safety when using loan apps in Nigeria.


All Nigerians can easily apply for a loan using the 9credit lending app without submitting any paperwork, collateral, or other outward signs of support. I’m confident that you can use the comprehensive information in this guide to easily access all of the app’s goods and services.

Sponsored Links

Leave a Reply

Back to top button