How to Repay Newcredit Loan Fast [Online & Offline]

This post is all about how to repay Newcredit loan.

Newcredit is just one of many online loan apps that offers one of the most flexible loan terms.

With just your BVN and some basic qualification requirements, you can get an instant payday loan from Newcredit without any collateral or guarantor.

One amazing thing about Newcredit is that its loan repayment conditions are not strict. You can repay your loan as you get it in minutes.

While it may be confusing for newbies to repay their loans on Newcredit, I’ve curated this post to guide you through how to repay Newcredit loans by yourself both online and offline.

Without further ado, let’s get started!

Repaying Newcredit Loan

With prepayment and Automatic deduction methods, Newcredit offers flexible repayment options to its customers.

You can also repay your Newcredit loan both online and offline at your convenient time.

However, keep in mind that late payment may cause an increase in interest rate.

Anyways, let’s see how to repay Newcredit loan online.

Check Out: Download Newcredit App and Get a Loan

How to Repay Newcredit Loan

Since Newcredit has almost the same interface as Palmcredit, their repayment methods is very similar.

You can follow this step-by-step guide on how to repay Newcredit loan below.

1. Open the Newcredit app on your phone.
2. Find and click on “Repayment”
3. Then choose “Repay Only” or “Repay and Re-loan”.
4. Click on “Confirm”
5. Now, choose from the available repayment options that include:

Debit Card

The first payment option you’ll see is the Debit Card option, popularly known as Automated Teller Machine Card (ATM Card).

You can make a repayment using your debit card by simply clicking on the “Repay with Bank Card”, clicking any of your already linked cards, or adding a new card by entering your ATM card number, expiry date, and the CVV number.

Finally, click “Confirm” to proceed to make payment, and your account will be updated.

Related: Best Virtual Dollar Card in Nigeria

USSD

USSD method is another easy Newcredit repayment method.

This method can be implemented just by clicking on Bank or USSD from the list of the repayment options, then clicking “Confirm”.

Then, proceed by clicking on “Pay with USSD”, copy the code on your screen and paste it to your phone dialer to make payment.

Once done, click on “I’ve completed the payment” and your payment will be confirmed.

Please take note that the USSD repayment method only works with GT Bank accounts only, and is powered by Paystack.

Related: Bank USSD Code for Loans in Nigeria

Bank Transfer (Mobile App)

You can also repay your loan on Newcredit using a direct bank transfer.

You can use this method by clicking on “Bank Transfer” in the drop-down menu of the repayment options, then clicking “Confirm”.

Read and agree to the terms and conditions, then take note of the bank name, and then copy the providus account number and paste it into the transfer tap of your bank’s mobile app to make payment.

Alternatively, you can repay your Newcredit loan using the Bank transfer method by:

Clicking on “Bank or USSD” in the drop-down menu of the repayment options, then click “Confirm”.

Now, proceed by clicking on “Pay with Bank”. Then, take note of the bank name and copy the account on your screen, paste it to your bank mobile app transfer tab and make payment.

Once done, click on “I’ve completed the payment” and your payment will be confirmed.

Related: Newcredit Loan Requirements

Newcredit Loan Repayment FAQs

Can I pay my Newcredit loan before the due date?

Yes, you can repay your Newcredit loan before the due date. In fact, it is really advisable you repay your loan before the due date so as to get a reduction in interest, and also a good credit score.

What happens if I don’t pay my Newcredit loan?

If you don’t pay your Newcredit loan on time, Newcredit will keep increasing your interest rate every day.

More so, you’ll keep getting calls from Newcredit, urging you to repay your loan.

How do you do offline repayment on Newcredit?

You can do offline repayment on Newcredit by simply finding and navigating to a Newcredit store with your repayment money, phone number, and your Newcredit Client ID to make payment.

How do I pay back my Newcredit loan?

You can pay back your loan on Newcredit via Bank deposit, USSD, Bank transfer, and/or your debit card (ATM card).

Conclusion:

Repaying your loan on Newcredit is one of the easiest things to do on the Newcredit App, and it doesn’t take much time. 

I believe by now, how to repay Newcredit loan shouldn’t be something to worry about anymore since you’ve read this article.

If you still have questions concerning this topic, just drop a comment below, I’ll be glad to help.

Cheers!