RenMoney Microfinance Bank, formerly called Rencredit, started operations in 2012 in Ikoyi, Lagos state. The name was changed to RenMoney MFB limited in December 2013 when it gained operational license and opened multiple locations in Lagos state.
RenMoney MFB limited is widely known to be a consumer financial organization with expertise in providing small money solutions to individuals and businesses (Small and medium scale enterprises). It operates under a microfinance bank license and currently has a staff base of over 400 employees and a customer base of over 25,000. RenMoney is a unique and truly innovative bank, it is the first MFB to launch cloud technology with minimal fixed asset investment in Nigeria.
RenMoney operates three different loan product lines.
1. Unsecured loans
2. fixed deposits
3. Target savings
How To Apply For RenMoney Loan
An eligibility check will be carried out before a person can be deemed qualified for RenMoney Loan. These include the following:
1. Applicant must be between 22-59 years old
2. Applicant must run an account with any commercial bank operating in Lagos, Nigeria
3. Applicant must live and work in Lagos
4. Applicant must have a verifiable monthly income
5. Applicant must have a clean bureau report
6. Applicant must not have a history of returned cheques in your account.
7. Applicant must have an Employment/Confirmation/Promotion/Deployment letter or Introduction letter from his or her employer’s HR to RenMoney
8. Applicant must have a pension or tax ID no
9. Utility bill (PHCN/Rent/LAWMA) receipt
10. Valid means of identification (National ID card/Driver’s license/International or ECOWAS passport).
11. Applicant must have salary bank statement for the last six months stamped by your bank
To apply for loans, you can apply online at www.renmoneyng.com or visit any of the branches listed below:
– Head office: 89, Awolowo Road, Ikoyi, Lagos
– Surulere Office: Kings plaza, 80 Adeniran Ogunsanya street, Surulere