FAQ – General Questions
CredBooth is a financial technology company that provides broad range of digital inclusive financial services – Loans, Health insurance, Payments, Savings/Investment..
Download CredBooth App from Google Play Store or visit www.credbooth.com. Sign up with your phone number, answer a few questions and apply for a loan. Once your application is approved, your wallet will be credited!
Yes. Once your loan amount has been credited into your wallet, you can transfer to your regular bank account or pay for other services on CredBooth App.
CredBooth offers loans from N1000 to N100,000 for a period of up to four (4) months. The amount you can borrow depends on your credit history, the more you can access and the longer the period.
Repay your loan on time or when due, use other services (bill payment, airtime, and health insurance) on CredBooth platform, and ensure you do not owe other providers(lenders)..
The interest rate varies based on your profile and the amount. The interest rate ranges from 2.5% to 30% per month. This is equivalent to APR: 30 to 260%.
No. You will only need to share your BVN during the loan application and connect your ATM card to authorize us to debit your account for the repayment.
There is likelihood it will increase when you repay, however, it may not be immediately.There are several factors that determine the amount we can give at any specific time. Continue to improve your credit score by using other services on CredBooth App, repay your loan on time and do not owe other lenders.
Your application may be rejected for several reasons; however, you can apply again after some time. Below are some of the reasons why an application may be rejected:
- Poor credit history (Maybe the applicant is owing or have defaulted in repayment with other providers)
- Not enough information found on an applicant to make credit decision
- Not qualified for loan request amount at that point etc.
Visit your bank to retrieve your BVN or use your phone to dial *565*0#
You can use any of the channels on CredBooth App – Bank transfer, USSD, or Debit card.
CredBooth request BVN details to verify your identity and make sure you didn’t default from other lenders.
Don’t worry, we use world-class data security and encryption techniques to protect the data you share with us, and we will not share your information with third parties.
CredBooth offer other services such as bill payment, airtime top up and health insurance. Any time you use any of these services, your credit score at CredBooth increases.
Yes. CredBooth offer credit facilities to customers who are qualified.
Continue to use CredBooth services overtime and you will be able to access credit for other services.