SnappyCredit Loan App Review; interest rate, is it legit - Startuppreneur
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Loan

SnappyCredit Loan App Review; interest rate, is it legit

Snappycredit loan will give you instant loan in Nigeria without collateral or paper work, with just your phone and BVN you will obtain the loan.

With snappycredit you can obtain up to #50,000 loan at a go. Their loan processing is very fast within 1 hour of submitting application your loan loam will be disburse.

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Requirement to obtain loan from snappy credit

Below are the requirement you need to meet up with before you can obtain loan from snappycredit

Be above 18 years of age

Have source of income

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Have smart phone with which to download the app

Have bank account and bvn

Be a Nigerian and reside in Nigeria

How to apply for snappycredit loan

Head over to playstore and download snappycredit loan app

Launch it and register with your name and other details

You will be ask to submit your BVN, do so

You will be ask to bind your ATM card which might attract #30 fee, do so

After registration you will be login to your dashboard

On your dashboard click on loan

There you will see amount of loan you are eligible to obtain

Click on this loan and wait for disbursement

It shouldn’t take more than 1 hour if everything is right

How much you can loan from snappycredit loan app

With snappy credit you can obtain up to #100,000 but as first timer your loan amount will not be up to this, it might not be more than #10,000, but as you continue to use the app the amount of loan you can obtain will increase.

Snappycredit interest rate and repayment period

Their interest rate is between 10% to 25% depending on the amount of loan obtain. The repayment period is between 7 days to 2 months.

For first timer your interest rate will be high and your repayment period will be short but as you continue to use the loan app this will improve.

Repaying your snappycredit loan

You can repay your loan with ATM card or ask for their account number and transfer to it. When making transfer ensure you have their correct account number.

What will happen if I default

If you default they will punish you by increasing your interest rate with 2% but if you decide not to pay back at all they might send defamatory message to your contacts.

They will also send your name to credit bureau for black listing which means you will not be able to take loan again in Nigeria until you settle your debt

Is snappycredit loan legit

Yes the loan app is legit, they do give loan to people, the only thing is that they are not license by CBN so be careful when dealing with them.

Our verdict on snappycredit loan app

Snappy credit is legit they will surely give you loan. They have mix of positive and negative review on play store.

Their rating is not encouraging and lastly they are not license by CBN so take caution when taking loan form the app.

Conclusion

Above is snappy credit loan app review, as you can see they are not license by CBN, though they do give loan but take loan that you know you can pay back to avoid embarrassment. Also if anything goes wrong it will take time before CBN will interfere.

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