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All Your Questions Answered: Credit Direct Personal Loan

In today's fast-paced world, unexpected expenses can arise at any moment, leaving you in a tight spot. Whether it's a medical emergency, home repairs, or consolidating debt, Credit Direct Personal Loan offers the financial support you need, when you need it.

Credit Direct is a non-bank financial services company that provides personal loans to salaried employees and civil servants in Nigeria. The company was founded in 2011 and is headquartered in Lagos, Nigeria.

Credit Direct has disbursed over N150 billion (US$400 million) in loans to over 1.5 million customers since its inception. The company offers a variety of loan products, including personal loans, nano loans, and buy now pay later loans. The company has a strong commitment to customer service and has been praised for its quick and easy application process.

FAQs about Credit Direct Personal Loan

Who can get the Credit Direct Personal Loan?

To qualify for Credit Direct Personal Loan, the borrower must

  1. Have a staff Identification card.
  2. Live and or work in Lagos State.
  3. Be between 22 and 58 years old.
  4. Possess a clean Credit Bureau Report.
  5. Not have a history of returned cheques in their account.
  6. Possess a verifiable monthly income and pension statement.
  7. Run an account (Current or Savings) with a commercial Bank in Nigeria.
  8. Present one recent passport photograph taken within the last 6 months).
  9. Possess a valid Proof of Identification (current ECOWAS Passport, National Identification, Driver’s License or Voters ID).
  10. Present NUBAN Cheque leaves for the duration of the Loan/Activated direct debit mandate.
  11. Have a salary bank statement for the last 3 months which must be stamped by the bank.
  12. Present a letter of Employment, Confirmation, Promotion, Redeployment, Salary Increase or Introduction Letter from the Employer’s HR.

What is the maximum amount I can borrow?

The maximum amount that can be borrowed is N4, 500,000. However, the amount of money you can borrow will depend on your income and your credit history. The interest rate on the loan is also based on your credit history. You can check your credit score for free on nairaCompare!

What is the interest rate on Credit Direct Personal Loan?

The interest rate on Credit Direct Personal Loan is 7.5% per month which is fixed for the duration of the loan.

What is the repayment term for this loan?

The repayment term for Credit Direct Personal Loan is flexible and can be customized to fit your needs. You can choose to repay the loan over a period of 1 to 12 months.

What happens if I am not approved for a Credit Direct Personal Loan?

If you are not approved for a Credit Direct Personal Loan, you will not be charged any fees.

How long does it take to get a decision on a Credit Direct personal loan application?

The time it takes to receive a decision on a Credit Direct personal loan application can vary. In some cases, you may receive a decision within minutes or hours of submitting your application. However, in other cases, it may take a few business days to process the application and receive a decision.

Do I need a collateral to be approved for Credit Direct Personal Loan?

It is an unsecured loan, which means you do not need to offer any collateral to get approved.

What are the benefits of Credit Direct Personal Loan?

  1. Flexibility: Credit Direct Personal Loan offers flexible loan terms and repayment options that can be tailored to your unique financial situation.
  2. Competitive Interest Rates: Credit Direct Personal Loan offers competitive interest rates, ensuring that you can manage your loan without breaking the bank.
  3. No Hidden Fees: With Credit Direct Personal Loan, you won't encounter any hidden fees or surprises along the way. The terms are clear and straightforward, allowing you to plan your finances with confidence.
  4. Credit Building Opportunities: Responsible loan repayment can contribute to improving your credit score. By making timely payments on your Credit Direct Personal Loan, you have the chance to enhance your credit profile and open doors to better financial opportunities in the future.

How to Apply For Credit Direct Personal Loan on nairaCompare

1. Click ‘Credit Direct Personal Loan’.

2. Read through the information on the product page to get more details about the product.

3. Click on ‘Apply’ to begin the application process.

4. Fill in your personal details.

5. Submit your application form for review and processing.

6. After successfully reviewing your application, you will receive an email notification confirming your application.

Visit nairaCompare to learn more about Credit Direct and other loan options available to you.

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