is 9Credit Loan Legit? Interest Rate, App Download, How to Repay

42 Likes Comment

9Credit is one of Nigeria’s leading digital lending platforms. With it, you can easily access safe, fair, convenient, and affordable online loans.

This post will provide you with all the information you need to know about 9Credit loans, including interest rates, loan requirements, the application process, and more.

Interest Rate

9Credit offers competitive interest rates to its customers. Here is a breakdown of the interest rate structure:

  • Loan Amount: Ranges from NGN 3,000 to NGN 100,000
  • Loan Tenure: 91 to 120 days
  • Interest Rate: 0.07% per day (25.55% per annum)
  • Processing Fee: Ranges from NGN 60 to NGN 2,000 for a one-time charge, depending on the loan amount and application details
  • GST: 18% of the Processing Fee, in accordance with the policy and laws
  • APR: Up to 45% (Annual Percentage Rate, including interest, processing fee, and GST)

To illustrate the interest calculation, let’s take an example. Suppose you borrow NGN 10,000 for a 91-day loan with an interest rate of 25.55% per annum:

  • Interest = NGN 10,000 * 25.55% / 365 * 91 = NGN 637
  • Processing Fee = NGN 200
  • GST = NGN 200 * 18% = NGN 36
  • Total Amount to be Paid = Loan Amount + Interest + Processing Fee + GST = NGN 10,000 + NGN 637 + NGN 200 + NGN 36 = NGN 10,873
  • APR = (NGN 10,873 – NGN 10,000) / NGN 10,000 / 91 * 365 = 35.01%

Please note that interest rates can change over time. It is important to confirm the interest rate on any loan offer before accepting it.

Loan Requirements

To be eligible for a 9Credit loan, you need to meet the following requirements:

  1. Nigeria Resident
  2. Minimum 18 years old
  3. Source of a monthly income

Additionally, you will need to have a Bank Verification Number (BVN) and a bank account.

How to Apply for a 9Credit Loan

Applying for a 9Credit loan is a simple and straightforward process. Here’s a step-by-step guide on how to apply:

  1. Install the 9Credit App from the Play Store.
  2. Register an account within the app.
  3. Select the loan product you would like to apply for.
  4. Fill out the required information in the application form.
  5. Submit the application.
  6. After submission, you may receive a call for verification. The final application result will be shown in the app, and you will be informed by SMS if your application is approved.
  7. Provide consent to the loan agreement after approval.
  8. After confirming the loan agreement, the approved loan amount will be disbursed into your connected account, and you will receive an SMS notification.

9Credit App Download

The 9Credit app is available for Android and iPhone devices and can be downloaded from the Google Play Store or Apple app store. Here are some details about the app:

  • Number of Downloads: The 9Credit app has been downloaded more than 1 million times.
  • User Reviews: The app has received a rating of 4.0 stars from over 106,000 user reviews.
  • App Size: The app size may vary depending on your device and the version of the app.

Please be cautious when downloading loan apps and ensure that you download them only from official app stores like the Google Play Store. Avoid downloading loan apps from unofficial sources, as they may pose security risks or contain malicious software.

How to Apply for 9Credit Loan

To apply for a loan from 9Credit, follow these simple steps:

  1. Install the 9Credit App: You can find the 9Credit app on the Google Play Store. Download and install it on your Android device.
  2. Register an Account: Open the app and complete the registration process to create an account.
  3. Select the Product: Choose the loan product you want to apply for from the options available in the app.
  4. Fill Out the Application: Provide the necessary information and complete the loan application form.
  5. Submit the Application: Once you have filled out the application, submit it through the app.
  6. Verification and Approval: After submitting your application, you may receive a call for verification purposes. The final application result will be shown in the app, and you will also receive an SMS notification if your loan is approved.
  7. Consent with the Loan Agreement: If your loan is approved, you will need to provide your consent with the loan agreement.
  8. Disbursement of Loan Amount: After confirming the loan agreement, the approved loan amount will be disbursed into your connected account, and you will receive an SMS notification.

Please note that the approval and disbursement process may take some time. Ensure that you have a stable internet connection throughout the application process.

How to Contact 9Credit Customer Care

If you need to get in touch with 9Credit customer care for any inquiries or assistance, you can reach them through the following contact information:

  • Customer Service Email: Send an email to for any queries or concerns.
  • Address: You can visit the 9Credit office located at Lawal Street, Oregun, Ikeja, Nigeria.

If you are unable to find contact details within the app, you can reach out to 9Credit customer care via the provided email address. They will be able to assist you with any issues or questions you may have.

Is 9Credit Legit?

9Credit is a digital lending platform in Nigeria and is registered under Nigerian law. As of the last update, it is a legitimate loan service provider. However, it’s important to note that companies and their policies can change over time.

Always exercise caution when dealing with any financial service provider and make sure to review the terms and conditions before accepting any loan offer.

Ultimately, the decision to use 9Credit or any other loan service lies with the individual borrower. It’s essential to carefully consider your financial situation and needs before taking out a loan.

All rights reserved. Do not copy, rewrite or republish this content, in part or in whole, without proper credit to the source.

You might like

About the Author: Femi Olawole

Femi Olawole is a seasoned blogger with interest on providing helpful Contents on online loan apps, Tech and Business.

Leave a Reply

Your email address will not be published. Required fields are marked *

Copying of this content disabled