How To Apply For Branch Loan In Nigeria
Have you ever thought of starting a business or even supporting the ones you already had?
The world has changed and Nigeria is no different. I will show you how to apply for Branch loan and get it in Nigeria.
What about emergency that might come up? And even house rent or school fees. .
Maybe you are waiting for the next salary to come in and you need money urgently.
Or you are waiting for the person you supplied goods or services to pay up.
But you need money now. Branch loan comes in
Your financial worries should be a thing of the past once you have a tangible thing to use it and do.
And you will be sure it will come out and you pay it back. Then Branch loan is the solution.
Branch loan has been there for Kenya, Nigeria, Mexico and Terzania.So it’s an international body.
You only need an Android phone.
Go to google play store download the Branch loan app. Next register and you are off to a start.
The thing being that you can get it without collateral. Yes no paper work.
But you will allow Branch to view your bank statement. They will also check your credit score.
The question is do you operate your account very well? If you do, then you will qualify.
Apply for the amount you need. For a start.
You will start with smaller amount, as you pay back, higher amount are given.
Steps To Apply For Branch Loan
- Visit Google play store and download Branch loan App
- Register or create and account.
- Apply for loan.
You will need your BVN, phone number, and bank account details to apply.
The interest rate that branch charge could depend on individuals like credit risk, length of repayment. But monthly interest could be from 1-21%. Though your credit score determines your interest. Higher credit score, higher interest rate.
Loan limit is between 1- 150,000 naira.
Branch Loan Interest Rate
This varies from individual to individual. How you may ask?
Well, it is all about credit risk, bank history, length of payment. Have you been the type that normally collect loan from your bank and you don’t pay back? Or if you do pay back you don’t do completely. Then, that’s bad credit. That will make Branch to charge you higher interest. If your credit score is good then you might not get up to 15%
But, normally Branch charge between 1-21% monthly. So make sure that you have good credit score to beat unbeatable interest rate.
How Much Does Branch Loan Give
Branch gives between #1000 -#150, 000. only. And this is for a start.
But as you pay back they will increase the amount they give to you. That’s the way it works.