Renmoney – Loan details
Personal and business loans up to ₦6,000,000 with 24-hour disbursement.
Loan amount
₦100K – ₦6.0M
Interest from
2.98%
Term
3 – 24 months
Approval
24 hours
Pros
- ✓ Loans up to ₦6,000,000 (largest among MFBs)
- ✓ Competitive interest from 2.98% per month
- ✓ Open to self-employed individuals
- ✓ CBN licensed microfinance bank
- ✓ Fully digital application and management
Cons
- ✗ Requires verifiable income (salary or business)
- ✗ Processing 24-48 hours for new customers
- ✗ Maximum tenure 24 months
Requirements
- Valid BVN
- Active Nigerian bank account
- Valid government-issued ID
- 3 recent payslips or proof of business income
- Nigerian phone number
- Minimum monthly income requirement applies
Company information
Renmoney
23 Awolowo Rd, Ikoyi, Lagos
https://www.renmoney.com
This document is for informational purposes only. Always verify current terms and conditions directly with the lender before signing any agreement. CoolFinance.com.ng is an independent comparison portal operated by double technology s.r.o., Czech Republic.