Oyescredit Loan App Review, Is Oyescredit Loan App Legit Or Not?
Interested in borrowing money online from a loan app without collateral? If affirmed, you’re definitely on the right page. In this Oyescredit loan app review guide, we’ll be answering some of the related most asked questions such as “is Oyescredit approved by CBN, is Oyescredit legit or not, can I borrow money from Oyescredit loan app, Oyescredit app download for Android new version, interest rate, requirements, how to apply for Oyescredit loan etc.
All those mentioned above have been provided answers to in this Oyescredit loan review.
However, we implore you to read till the end, this will help you in making a proper loan decision. Are you ready to explore the Oyescredit review? If yes, then you have no reason to wait. Kindly delve in right now!
Oyescredit Loan App Review: Is Oyescredit Approved By CBN; Is Oyescredit Legit Or Not
This Oyescredit loan review is not for everyone but specifically a must see for individuals who want to be on the safer side i.e protecting themselves from online loan sharks.
Online loan sharks are many today and not to fall a victim you must confirm the legitimacy and authenticity of such loan apps.
Now let’s delve deeper.
Oyescredit App Review: Is Oyescredit Approved By CBN
Let’s put Oyescredit loan app on the pending list. Why?
We have carried out a thorough research, and unfortunately, we couldn’t find information that affirmed the CBN approval on the FCCPC, CBN, nor on their official website.
Is Oyescredit Legit Or Not?
While we cannot independently verify the legitimacy of Oyescredit, it’s crucial to consider multiple factors when assessing the credibility of a loan app.
Here are a few considerations to keep in mind:
Ratings and Reviews: Positive ratings and reviews can be an indicator of user satisfaction.
A 4.2 rating based on 800+ reviews is generally a good sign.
Downloads: A high number of downloads can indicate popularity and user trust.
If Oyescredit has thousands of downloads on the Google Play Store, it suggests that many users have found the app useful.
CBN Approval: If Oyescredit is indeed approved by the Central Bank of Nigeria (CBN), it can add credibility to the app. Transparency and Terms: Evaluate the app’s terms and conditions, interest rates, repayment terms, and any associated fees. Ensure that they are clear and reasonable.
User Feedback: Look for additional user feedback or experiences outside of the app store reviews.
Online forums or social media platforms might provide more insights into the app’s reputation.
Should I borrow money from Oyescredit?
The decision to borrow money from Oyescredit, or any other lending platform, ultimately depends on your personal financial situation and needs.
Here are a few factors to consider before making a decision:
Assess your financial situation: Before borrowing money, evaluate your financial needs and determine if taking a loan is the best solution.
Consider your income, expenses, and whether you have the means to repay the loan within the agreed-upon terms.
Interest rates and fees: Review the interest rates and any associated fees charged by Oyescredit.
Ensure that you understand the total cost of borrowing and compare it with other lending options to ensure you’re getting a competitive rate.
Read: Primepay Loan App Review, Is Primepay Loan App Legit?, Requirements, Interest, Borrow
Loan terms and repayment options: Take the time to understand the loan terms, repayment schedule, and any penalties for late payments or early repayment.
Ensure that the terms align with your financial capabilities and goals.
Credibility and reputation: As mentioned earlier, consider the app’s ratings, reviews, and overall reputation among users. Positive feedback and a good track record can indicate a more reliable lending platform.
Alternatives: Explore other lending options available to you at b4loan. We review all loan apps on the net.
Compare the terms, interest rates, and fees offered by different lenders to ensure you’re making an informed decision.
If finally you have decided to get a loan, you should read on to explore a guide on Oyescredit app download for Android new version, the Oyescredit loan interest rate, loan requirements and finally how to apply for Oyescredit loan easily and hassle free.
Oyedcredit loan requirements?
The Oyescredit loan requirements and eligibility criteria to get a loan from Oyescredit loan app is quite similar to other loan apps in Nigeria.
Some of the Oyescredit loan requirements and eligibility criteria to secure a loan from Oyes credit loan app are the following:
- You must reside in Nigeria.
- You must have a BVN (Bank Verification Number).
- You must have a source of income.
- You must be between 22 years old and 55 years old.
- You must have a bank account
- You must be willing and ready to provide a contact list of at least two friends or relatives etc.
Now, before you explore details on Oyescredit app download for Android new version and how to get a loan from Oyescredit loan app kindly check the interest rate of the loan app.
Oyescredit loan interest rate
Here are details on the Oyescredit loan interest rate:
Loan period: 91 days to 365 days
Loan amount: ₦3,000 to ₦150,000
Interest ranges from 0.05-0.07% of the amount per day (Max 32% per year)
One-time fee is 4% of the amount
An Example:
If you choose a loan amount of ₦8,000 for one year, the interest rate is 0.06%, and the one-time fee is 4%
EMI: ₦812.67 = (₦8,000 * 0.06% * 365 + ₦8,000)/12
Total interest paid: ₦812.67 * 12 – ₦8,000 = ₦1,752
Processing fee: ₦8,000 * 4% = ₦320
Payment amount: ₦8,000 – ₦320 = ₦7,680
Total repayables: ₦812.67 * 12 = ₦9,752
APR: (₦1,752 + ₦320) / ₦8,000 = 25.9%
Note This Now: Oyescredit claimed to provide a loan up to N150,000. This is true but downloads rely on the interest rate breakdown.
From our experience at b4loan, most loan apps that are pending or disapproved by CBN approval are not truthful about their real interest rates, not until you’re about to take the loan.
Also, with the Oyescredit, from our research, we’ve seen cases where many borrowers shared their negative experience on how they were credited even without reapplying for a loan.
Therefore, at Wenchatpro– an all loan apps review portal, we encourage you to always exercise patience when it comes to getting loans from loan apps.
If a loan app does not meet your preference, you can always explore alternatives. Some of the alternative can be found below:
Oyescredit APK Download
Oyescredit APK download process is simple. You just need to search for “Oyescredit APK Download” on your preferred search engine e.g Google and sites with the Oyescredit APK will show in the search results. Click through one of the search results and follow prompts to download the Oyescredit APK app immediately.
That said, it is always recommended to download applications from official app stores such as the Google Play Store or the Apple App Store to ensure the authenticity and security of the app.
By downloading apps from official sources, you can minimize the risk of downloading compromised or malicious versions of the application.
We’ve also provided the Oyescredit app download guide in the section below:
Oyescredit App Download For Android Version
To download oyescredit loan app, you will need to head over to the Google play store.
You can do this by tapping going to the Google play store where you will get the app downloaded immediately by searching for the app using the search bar.
Once you seen the app, click on it and wait for it to download. After downloading successfully, then you can launch the app, sign up, login and apply for a loan.
Oyescredit app download for iOS new version
To download the Oyescredit app for iPhone, you can follow these steps:
Open the App Store on your iPhone.
Tap on the search icon at the bottom right corner of the screen.
Type “Oyescredit” in the search bar and tap on the search button.
Look for the official Oyescredit app in the search results.
Once you find the app, tap on it to open the app page.
On the app page, tap on the “Get” or “Download” button.
If prompted, authenticate with your Apple ID or use Touch ID/Face ID to confirm the download.
Wait for the app to download and install on your iPhone.
Once the installation is complete, you can find the Oyescredit app on your home screen.
Finally, let’s see how to apply for Oyescredit loan.
How To Apply For Oyescredit Loan
Open the Oyescredit app: Start by opening the Oyescredit app.
Create an account: Once you’re on the Oyescredit website, you’ll need to create an account. Look for the “Sign Up” button and click on it.
Fill in the required information, such as your name, email address, and phone number.
Create a strong password for your account.
Complete the application form: After creating your account, you’ll need to fill out the loan application form.
Provide accurate and up-to-date information about yourself, including your personal details, employment information, and financial information.
Make sure to double-check the information before submitting the form.
Choose the loan amount and repayment terms: Oyescredit offers different loan amounts and repayment terms.
Select the loan amount that suits your needs and choose the repayment terms that are convenient for you.
Take your time to review the terms and conditions associated with the loan.
Submit the required documents: Oyescredit may require certain documents to verify your identity, income, and other relevant information.
These documents may include your identification proof, address proof, income statements, bank statements, and any other documents specified by Oyescredit. Scan or take clear photos of the documents and upload them securely on the website.
Review and accept the loan offer: Once you have submitted your application and documents, Oyescredit will review your application.
If your application is approved, you will receive a loan offer.
Carefully review the loan offer, including the interest rate, repayment schedule, and any additional fees or charges. If you agree with the terms, you can accept the loan offer.
Receive the loan funds: After accepting the loan offer, Oyescredit will process your loan application.
If everything is in order, you will receive the loan funds directly into your bank account.
Oyescredit Customer Care Number, Email Address, Office Address
Unfortunately, Oyescredit customer care number isn’t available at this time. However, in the meantime, you can get in touch with them via the following:
Email Address: pathBennvzs@gmail.com
Office Address: 88 Bode Thomasst, Surulere 101241, Lagos, Nigeria.
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