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Renmoney loan requirement and reviews: how Renmoney loan works.

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Renmoney loan requirement and reviews: how Renmoney loan works.

 Renmoney loan

How renmoney works (quick summary)

1. Claim

Choose your loan amount and duration and share information about yourself

2. Confirm

Confirm the information provided

3. Get a loan

Receive money from your bank account within 24 hours if the loan is approved

RenMoney provides customers with an unsecured loan of up to NGN2.5 million for up to 9 months for earners or self-employed as long as they can provide a guaranteed source of income. 

They may also be forced to notify employers and Next of skin if They are unable to contact you regarding your loan. 

Continued non-payment will adversely affect credit ratings at Credit Bureau agencies which will prevent you from obtaining loans from other financial institutions.

Renmoney loan requirements

• Be between 22 - 59 years old.
• Have a solid source of guaranteed income.
• They must be certified employees in the current job.
• Have a current active or savings bank account.
• Identity - International Passport, Driver's License, National Identity Card.
• The applicant must reside or work in Lagos State.
• You must have a clean Credit Bureau Report.
• You must not have a history of checks returned to your account.
• One recent passport photo (6 months ago)
• 6 month salary bank statement (must be stamped by bank).
• Usage Bill (PHCN, Water Credit, LAWMA Debt OR  Lease Agreement)

Renmoney loan requirements for self-employed.

  • Recent passport photo.
  • Provide valid proof of ownership.
  • Also, you will also need a valid user / business card card.
  • Newly signed bank statement (Business and Personal) within 6 months and stamped by the bank.
  • Proof of tax registration or receipt of payment.
  • Also, provide a payment method (NUBAN check only).
  • You will need a registration certificate.
  • Recent Service Bill within the last 3 months (business and home). 

Renmoney loan calculation.

Small financial banks in Nigeria and around the world, have a major goal of providing banking services to the bankers. This is exactly what renmoney symbolizes, as it offers a wide range of services to low- and low-income earners. In addition, the loan remains one of the strongest points in renmoney, as it offers immediate, 24-hour available credit services and other benefits. However, one of their most important assets is their loan calculator which helps you to adjust your borrowing time before borrowing.

What is a loan calculator?

Loan Calculator is an online simulation software that considers your loan details and provides relevant information.

How do I apply for  Renmoney loan?

After you have satisfied all the requirements listed at the beginning of this article, you can continue to follow the instructions we will give you here to successfully apply for a Renmoney loan.

 There are three types of loans that can be obtained through the Renmoney website. They include:

RenMoney school loan
RenMoney Cash loan
RenMoney work loan

Each of these categories has different ways of applying for a loan. We will show you how to apply for each of the loan categories listed above.


  • Visit the Renmoney website to complete the Renmoney online loan application form.
  • Use the Renmoney CALULATOR to determine how much you will pay at the end of the loan period.
  • Fill in the required details on the school loan form and wait while your Renmoney representative touches you.


  • Visit the Renmoney website and use the Renmoney loan calculator
  • Choose the amount you wish to borrow and the amount of time you wish to repay.
  • The amount you will pay at the end of the loan will be displayed
  • Click "CONTINUE" to get to the next page.
  • After you have finalized your application, wait for your representative to contact you. If the loan is approved, you will leave your bank details to pay off as soon as possible.


  • Complete the Renmoney pdf application form and complete the required details.
  • Provide all required documents.
  • Submit a request to your company's Human Resources. This was done so that the Renmoney Relationship Manager could pick it up there.
  • You will then receive a notification of authorization or otherwise.

If it is finally approved, the loan amount will be credited to the account provided.

How to pay back Renmoney loan?

How much money can I get as a loan from Renmoney?

You can get a loan from Renmoney that reaches Naira for five hundred thousand. Note that the amount of loans you receive depends on your profile information.

What happens if I do not repay my loan on time?

If you do not repay the loan on time, Renmoney may prevent you from getting another loan and interest rates will continue to rise daily. So it is good to repay the loan on time.

What is the interest rate of Renmoney?

Renmoney interest rates range from 2.4% - 9.33% and the Annual Percentage Rate (APR) is 35.76%. According to them, no other charges are charged.

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