9Credit offers a simple and fast loan process. The sign-up is done on a mobile phone, with no paperwork or collateral required. The approval time is also quick, so borrowers can get money in minutes once verified.
If you have been searching for a loan app with simple registration and fast disbursement, this guide will help you understand 9Credit Loan can be of help.
What is 9Credit Loan App?
9Credit is a digital lending app that gives personal loans to individuals in Nigeria. The loan can be used for various needs such as medical expenses, school fees, groceries, bill payments, or emergencies. The platform is available nationwide and works 24/7.
According to the company, borrowers can apply anytime and get the money once approved. The system reviews applications digitally and considers factors like identity, phone data, and income source. Borrowers with good repayment history may also receive higher loan amounts over time.
Loan Features on 9Credit
9Credit offers flexible loan packages. The amount you qualify for depends on your credit score, income stability, and repayment behavior.
Loan details include:
- Loan Amount: ₦3,000 – ₦1,000,000
- Loan Tenure: 91 – 120 days
- Daily Interest Rate: 0.07%
- Annual Interest Rate: 25.55%
- APR: Up to 36%
This structure gives borrowers enough time to repay, especially when compared to apps that offer only short-term repayment.
Loan Cost Example
To help you understand the cost, here is an example from the platform:
According to 9credit, if you borrow ₦10,000 for 120 days at an annual interest rate of 25.55%:
- Interest Cost: ₦10,000 × 25.55% ÷ 365 × 120 = ₦840
- Total Repayment: ₦10,000 + ₦840 = ₦10,840
This shows the loan is not excessively expensive compared to many similar apps, especially considering the longer repayment window.
Note: That is what 9credit says but in reality the truth may be different. Most loan apps will not offer 10,000 naira for a period of 120 days and as a matter of fact, such amount will most likely carry 7 days period. So do check the period very well before taking a loan offer from 9credit app.
Why Use 9Credit?
9Credit lists several benefits that make borrowing easier:
- No previous credit history needed
- 100% online process
- Fast approval
- Loans available across Nigeria
- Credit limit increases for consistent repayment
- Multiple repayment options
- Reminders to avoid late repayment
These features make it appealing for first-time borrowers and salary earners who need quick access to funds.
Eligibility Requirements
To qualify for a loan on 9Credit, you must meet the following conditions:
- Must be a Nigerian resident
- Must be between 18 and 56 years old
- Must have a steady source of monthly income
- Must have a smartphone and functional bank account
The app may request access to certain phone permissions for verification and security checks.
How to Apply for a Loan on 9Credit
Applying for a loan on the platform takes a few minutes. Follow the steps below:
- Download the 9Credit App from Google Play Store.
- Create an account with your phone number.
- Select a loan product that fits your need.
- Fill in your personal and financial details.
- Submit your application.
- You may receive a verification call.
- If approved, accept the loan agreement.
- The funds will be sent to your bank account.
Borrowers also receive SMS notifications after successful disbursement.
9credit Customer Support
Borrowers who need help can contact the support team through:
- Email: Customer@9credit.co
- Phone number: 09019310402
- Address: Lawal Street, Oregun, Ikeja, Lagos, Nigeria
Is 9credit Loan Approved by CBN?
According to this list of approved loan apps in fccpc website, 9credit is fully approved and as such it’s legit. Rest assured that the loan app has been reviewed by fccpc and found to be legit. However, you still need to take precautions when dealing with any loan app. Do not pay money upfront to access loans and always check and confirm loan terms, repayment period and interest rates.
Final Verdict
9Credit is a simple and functional loan app suitable for individuals looking for quick and flexible loans. The approval time is usually fast, and repayment duration is longer than many similar lending apps, which makes repayment more manageable.
However, users should borrow responsibly and check the loan terms before accepting. Repaying on time helps avoid penalties and increases your loan limit.
