RenMoney MFB (Micro Finance Bank) Limited formerly known as RenCredit, is a simple money solution provision expert founded in Lagos in 2012. RenMoney MFB is popularly known for giving out unsecured loans (i.e without collateral).
RenMoney has Several products they offer their customers ranging from ;
- Cash Loan
- [email protected]
- School Fees Loan
- Fixed Deposits
- Point-of-Sale(POS) Loan.
- Target Savings
- Smartphone Financing
How does RenMoney Work?
RenMoney is really a simple money solution that offers customers loans of up to NGN4 million Max without collateral. All you need is to either be an Employed or self-employed with a verifiable source of income and other minor verifications.
How RenMoney MFB Cash Loan Work
RenMoney provides their customers with Cash loans up to NGN4 million max, without requiring them to present them with any form of collateral. The loan tenure ranges from 3-9 months for new customers and up to 12 months for returning customers.
Eligibility for RenMoney Cash Loan
Customer can either be employed(salary earner) or Self-employed (entrepreneurs, Businessperson etc), with a verifiable source of income.
- for persons between the ages of 22-59 years.
- if employed Must be confirmed staff in present employment.
- Must have a current or Savings Account in any of the commercial Bank in Nigeria.
- Applicant must live and or work in Lagos State.
- The Applicant must have a verifiable means of income.
- The Applicant must have a valid identification card (work id, international passport, National id, etc)
To apply for Renmoney MFB Cash Loan or for more info Click Here
RenMoney [email protected]
RenMoney [email protected] is designed for companies registered with the Corporate Affairs Commission (CAC) and in partnership with RenMoney. Employees of the company that partnered with RenMoney can easily get a [email protected] from RenMoney with Less paperwork, and with a very low-interest-rate than that of Cash Loan. the employer receives instant approval (or disapproval), however, if approved, the cash is received in any preferred bank account (within 24 hours).
How RenMoney MFB [email protected] works
The company is duly registered with the Corporate Affairs Commission (CAC)
[email protected] is designed for organizations with a sizeable amount of staff (not less than 30).
RenMoney and the organization then sign a Memorandum of Understanding which permits RenMoney to grant employees of the pre-qualified organizations’ loans at reduced interest rates.
The repayment structure is very easy and seamless as it can either be Payroll deduction at source or via any of our repayment methods – Direct Debit Mandate or Post-dated Cheque
For more information Click HERE.
RENMONEY SCHOOL FEES LOAN
You’re in short of school fees RenMoney school fees package got you covered. The school Fees package is for both adult and kids. If the school fees Loan is approved RenMoney deems it fit to make the payment directly to the Educational institution on behalf of the applicant while applicant repays RenMoney through monthly installments.
School fees Loan package offers up to NGN4 million for your fees within 24 hours without collateral after the loan approval.
What Qualifies you for RenMoney MFB School Fees Loan.
- You must be between ages 22 – 59 years.
- Must be confirmed staff in place of present employment.
- Have a verifiable steady source of income.
- Must have a verifiable means income.
- You must have a valid identification card (work id, international passport, National id, etc)
RenMoney Fixed Deposit
This is an investment product for customers who desire high returns on their investment. With a minimum of NGN250,000 investment, the Fixed Deposit product from
RenMoney offers competitive interest rates over an agreed tenor. All investments are insured by the NDIC.
On how to place a fixed deposit, click HERE.
RenMoney Point of Sale (POS) Loan
For this package, RenMoney Customers can be able to purchase household appliances
through Renmoney POS Loans with repayment made in monthly installments.. Appliances are to be purchased only from RenMoney partner shops (e.g Samsung) this includes and not limited to Microwave ovens, air conditioners, washing machines, television, freezers.
RenMoney Target Savings Loan
RenMoney helps there customers to save towards a specific goal such as: for financial freedom, travel, Retirement, Wedding, a house, college or professional certification etc through their RenMoney Target Savings Loan. The Target Savings plan offers 10% interest rate per annum.
To Start a Target Savings Plan with RenMoney:
- Determine how much you want to save monthly (minimum of N20,000).
- Fill application form.
- Choose the tenor of your savings plan (minimum tenor is 6 months).
- Issue post-dated cheques or set up a direct debit mandate with your bank.
- Send a mail to the Investment team on [email protected] or call 016310723.
For more information Click HERE.
RenMoney Smartphone Finance
Now you can purchase your favorite smartphone from RenMoney in partnership with selected network providers at lesser rates. This is as long you subscribe to a special monthly voice, SMS, and data bundle plan for a minimum of 12 months. Renmoney smartphone finance partners are Airtel Nigeria and SLOT
How Does RenMoney Smartphone Finance Work?
With just your Debit Card, RenMoney can help you own the latest smartphone without having to break the bank.
- Each month, a portion of the monthly bundle paid by the customer is used as repayment for the phone which is financed (paid for or funded) by RenMoney. The rest is a charge for the data, voice and SMS service provided by the network provider.
e.g if the monthly bundle costs N1,000 monthly, N600 can go to RenMoney as repayment for the phone while the balance N400 goes to the network provider for the data costs.
- RenMoney has a proprietary algorithm to determine which customer will be eligible.
Over the period of the subscription, RenMoney will collect the monthly bundle fees and remit to the network providers, the portion for the Data, Voice and SMS charge. For more information Click HERE.
RenMoney MFB Branches and Contact Details
Online – www.renmoneyng.com
Head Office: 89, Awolowo Road Ikoyi, Lagos, Nigeria.
- Kings Plaza Mall, Adeniran Ogunsanya
- Pentagon Plaza, 23 Opebi Road Ikeja
- Lagos Island – 50–52, Broad Street, Lagos in CSS Bookshop House
- Apapa Mall, 13 Park Lane, Apapa, Lagos
- F61 & F62 Road 3, Ikota Shopping Complex, Ikota, Lekki-Ajah
Contacts: Email: [email protected]
Tel– 0700RENMONEY (0700 73666639)