Credpal fast online Loan of 100,000 naira
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If you're looking for a reliable loan app in Nigeria, the CredPal App is your best bet. When you sign up, you get access to loans, buy now pay later, and a credit card.
CredPal is a loan app in Nigeria that gives you access to reliable loans and instant credit cards to buy now and pay later from merchants within the app. You can also pay bills such as TV and data subscriptions, electricity, and airtime with your credit card in your app.
CREDPAL INTEREST RATE AND LOAN REPAYMENT
Loan amounts range between ₦50,000 to ₦2,000,000 with repayment periods from 3 months to 9 months at monthly interest rates that range from 4% to 5%. Annual Percentage Rate for 3 to 9 months (15% to 45%).
Representative Example of a CredPal loan:
1. Loan Amount: ₦200,000
2. Loan Term: 3 months
3. Interest rate: 4.5%
4. Service Fee: 1.5% (Goes to the Payment Service Provider)
5. Interest amount of the loan: ₦27,000
6. Monthly repayments for 3 months: ₦79,071.67
7. Total amount payable: ₦237,215
8. Total Percentage Rate (13.5%)
CREDPAL CREDIT CARD INTEREST RATE & REPAYMENT
The credit limits on credit cards range between ₦5,000 to ₦500,000 with a repayment period of 29 days at an interest rate that ranges from 3.8% to 21%.
Representative Example of a CredPal Credit Card:
1. Credit Limit Amount of ₦70,000
2. Credit Limit Term: 29 days
3. Interest rate: 6%
4. Service Fee: 1.5% (Goes to the Payment Service Provider)
5. Interest amount of the credit limit: ₦4,200
6. Monthly Repayment: ₦75,313
7. Total amount payable: ₦75,313
8. Total Percentage Rate (6%)
CREDPAL BUY NOW PAY LATER INTEREST RATE & REPAYMENT
The credit limits on credit cards can be used to buy and pay later from merchants within the CredPal app. The credit limit on the cards ranges between ₦5,000 to ₦500,000 with a repayment period of 1 month to 6 months at an interest rate that ranges from 4% to 6%. Total Percentage Rate for 6 months (24% to 36%).
Representative Example of Buy Now, Pay Later:
1. Purchased Item: iPhone xs
2. Limit Amount of ₦100,000
2. Limit Term: 2 months
3. Equity Contribution: ₦31,500
3. Interest rate: 5%
4. Service Fee: 1.5% (Goes to the Payment Service Provider)
5. Interest amount of the limit: ₦6,850
6. Monthly Repayment: ₦40,000
7. Total amount payable: ₦80,000
8. Total Percentage Rate (10%)
Other Benefits:
Competitive interest rate
Fast and convenient process
No guarantor needed
HOW TO SIGN UP ON CREDPAL:
~Download the app
~Provide the required documents.
~Wait for a credit limit and loan limit approval.
~Once you have been offered a credit limit, activate your account and start spending.
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