Kredi Bank is a microfinance digital bank powdered by Kredimoney MFB Limited in 2010 to offer individual Nigerian and cooperate bodies premium banking needs from the comfort of their home.
Here, we will be looking at the Kredi bank review and everything you need to know about the virtual banking app.
What Is Kredi Bank All About?
The Kredi bank comes in an app that serves as a one-shop stop to meet all your financial needs like saving, payment of bills, loans, and transfers.
Kredi bank offers loans for personal loans to individuals, loans to both salaried and non-salaried accounts, collateral-based loans, and SME loans.
Also, the app serves as a virtual bank that allows you to save and transfer money as you do in traditional banks.
Functions that you can carry out in the Kredi bank app include:
– Account opening – The opening of an account is done online via your smartphone. You have to first download the app, sign in and follow the laid instructions to open your account.
– Fund account – You can send money directly into your account by transferring directly into it.
– Access loan – There are four classes of loans offered by Kredi bank. They are the SME loan that is mainly for business owners to start, grow or expand their business. The Kredi Nano loan is a short-term loan for both salaried and non-salaried earners to settle emergencies.
You can access up to NGN100,000 via the Kredi Nano loan. The Kredi collateral-backed loan is a high-value loan given to customers and backed by moveable items of value that have attained the Kredi bank’s pre-defined criteria. Lastly, the Kredi salary-backed loan is coming soon.
– Transfer – You can carry out secure transfers from your Kredi bank to other banks and vice versa.
– Payment of utility bills – You can make payments for utilities such as PHCN, water, DSTV subscription, and others directly from your Kredi bank account.
– Airtime and data top-up – You can buy airtime and data directly from your account.
Is Kredi Bank legit?
Kredi Bank is legit and is legally licensed by the Central Bank of Nigeria to serve as a Microfinance Bank having the unique registration number RC 878594.
You can trust Kredi bank with your money. However, we do not in any way vouch for their customer service experience but in terms of legality, Kredi bank is a licensed Microfinance bank in Nigeria registered with CAC.
Kredi Bank Interest Rates
The Kredi interest rates range from 4.5% to 35% translated to a monthly interest rate of 5% to 29% and APR of 29% to 120%.
The repayment duration of the loan is 60 to 180 days, and it comes without hidden charges or fees. You have to be 21 years of age to access a Kredi loan.
However, if you repay your loans on time, it will positively influence your credit score and allows you to borrow a large sum later.
However Kredi bank does not require documentation, collateral, or guarantors, but for loans beyond a certain amount, documentation and collateral will be required.
How To Get A Kredi Bank Loan
Kredi Bank loan is one of the numerous features that Kredi Bank got for its customers. With this feature, on the same Kredib bank app, you can request a loan, repay your loan, and so on.
To get started, you need to create an account and complete other KYC which involves your date of birth, BVN, etc.
After signing up and getting approved on the app, you will be provided with a digital bank account number that you can use to receive and send money to anyone. Only then will you be able to request for a loan which must be approved based on many other factors set by the bank.
Kredi Bank Download
To download the Kredi bank app, visit the Google Play Store for Android users and the IOS App Store for IOS users.
This is not like other loan apps that invade your contact privacy and start messaging your contacts. Because of their lack of respect for privacy, Apple does not approve their apps to be published, hence they play with Google and Android alone.
However, Kredi bank being a registered and federal government-regulated Microfinance bank has both iOS and Android apps for users to download.
Kredi Bank USSD Code
I know there are times you want to transact with the USSD code on the Kredi bank platform without data. However, as of the time of writing this article, Kredi Bank does not currently have a USSD code. However, when they launch one, we would ensure to update you on this article.
Conclusion
If you have any disturbing questions or further suggestions to make about the Kredi bank app. Do contact their service team at info@thekredibank.com or call +234 1 888 5557. For additional research, check out, “Opay Loan App- How to Borrow Loan from Opay (Okash).”
