YouthCred loan is a consumer credit by the Nigerian Federal Government (FG) through CREDICORP. It offers affordable, collateral-free loans to young Nigerians, especially NYSC corps members, young professionals, and entrepreneurs.
Beyond loans, youth creed also includes financial literacy training to help users build responsible credit habits.
Youthcred Loan Requirements?
- NYSC corps members with at least two months remaining in their service year.
- Young Nigerians aged 18–39 who earn a regular salary or run a business.
Loan Amounts & Repayment Terms
Youthcred loan comes with flexible options:
- NYSC corps members: Typically eligible for ₦100,000–₦150,000, but initial limit may start around ₦50,000. Repayment is structured over the service year.
- Young professionals/business owners: Borrow from as little as ₦5,000 up to ₦5,000,000, depending on profile and credit history.
- Repayment periods: Usually between 1 to 12 months, and in some cases up to 24 months.
Interest Rates & Fees
- Interest: Described as “near single-digit” or “low-cost,” with specific monthly rates like 1.5%–1.25% quoted.
- Example: A ₦50,000 loan with 1.25% interest plus ₦500 maintenance and ₦250 insurance:
- Repayment in one month: ₦51,375
- Two-month repayment: ₦52,000 (₦26,000 per month)
How to Apply
1. Complete Financial Literacy Training
You must finish a mandatory online course covering budgeting, credit management, and responsible borrowing.
2. Sign Up on YouthCred Portal
- Visit youthcred.com and choose the appropriate category (e.g., NYSC corps member or employed youth).
- Provide your name, email, phone number, NYSC details (if applicable), and upload an ID photo or NYSC document.
- Verify your email, then supply BVN and NIN to complete registration.
3. Apply for the Loan
- Log in to the dashboard, go to “My Loans” or “Apply for Loan.”
- Select your loan amount and choose a repayment plan.
- Indicate purpose and income details if prompted.
- Confirm and submit using your transaction PIN.
4. Loan Approval & Disbursement
- For NYSC members, approval can take 30 minutes to an hour.
- Disbursement is often immediate, as long as your linked bank account passes verification.
5. Repayment & Credit Building
- Repay via auto-debit or manually through the dashboard.
- Early repayment is encouraged and can improve your credit score.
- Responsible repayment helps unlock higher loan limits in the future.
Why YouthCred Stands Out
- No collateral or guarantor needed.
- Financial education is part of the process. This equips users before they borrow.
- Quick, fully digital experience: from application to disbursement.
- Designed to build credit: by rewarding timely repayment with higher limits and future access to more credit.
All Together
YouthCred gives young Nigerians a clear path to safe and affordable credit. By combining financial education with flexible, no-collateral loans, it helps users borrow wisely and build a credit record.
