Newcredit Loan Requirements in Nigeria

  • November 19, 2023

This post is all about the essential Newcredit Loan Requirements.

It is no secret that if you want instant loans without any collateral whatsoever, Newcredit Nigeria is really a great option for you.

Although, their loan approval is fast and easy, but, are the requirements needed before a loan approval flexible?

That’s one common question that a lot of people often ask. This is because some online loan apps seek identity and address verification before they grant you a loan.

But are Newcredit loan requirements like that?

That’s why I curated this post to answer that question. So, just take a seat, and let’s explore what the Newcredit loan requirements are in Nigeria.

What’s Loan Requirements on Newcredit All About

Newcredit loan requirements are those mandatory steps and procedures that must be taken and passed so that you can be granted loans on the Newcredit App.

Generally, since Newcredit is a payday loan company, requirements to get loan approval are very flexible as you don’t even need to verify your address before getting loans.

However, the little things that they require before approving your loan application are very mandatory, and without them, you might not even be able to register on the Newcredit App, not to talk of getting loans.

Now, what are the Newcredit loan requirements, and how can you easily qualify for loan on Newcredit?

Let’s see.

Related: New Loan Apps in Nigeria

Newcredit Loan Requirements

The main requirements to get loan on Newcredit are Your BVN, your name, phone number, and a good credit score.

The Newcredit App

The first requirement to get a loan from Newcredit is to download the Newcredit App. This is because you can get New credit loan only on the Newcredit Mobile App.

The app is available for iPhone and Android.

2. Your Full Name

The next and one of the most essential Newcredit requirements is your full name. This includes your First Name, Last Name, and Middle Name (Optional). 

Keep in mind that the name provided must be the same as your bank account details, and BVN.

Check Out: How to Get a Loan from Page Financials

3. Phone Number

Your phone number is another mandatory Newcredit loan requirements.

This is because after downloading the app and you’ll need to sign up with your phone number where a unique short code will be sent for verification.

Your phone number is the only way that New credit can contact you, and also send you some loan discount codes.

4. Bank Verification Number (BVN)

Your BVN is a priority to get loans on any loan app, Newcredit is no different too.

Note: Without a BVN, you cannot get a loan from Newcredit.

Related: Fairmoney Loan Requirements

5. Bank Details

Your account number and name are also one of Newcredit requirements for a loan. Your Account number is will be used for fund disbursement after your loan is approved on the App.

How to Qualify for Loan on Newcredit

In order to qualify for a Newcredit loan, you’ll need to have a good credit score and some job description.

More so, Newcredit may like to analyze some information about your debt-to-income ratio and your current monthly payments.

Now, let’s simplify the Newcredit loan requirements so that they can be more understandable.

Here’s a list of the most vital requirements to get a loan from Newcredit.

  • The Newcredit App.
  • Basic personal information such as name, age, phone number, next of kin, and occupation.
  • Bank Verification Number (BVN).
  • Bank Account details.

Once you meet these requirements, you’ll be instantly eligible to get a loan from Newcredit.

Note: The more loan you take and how quickly you repay them, the higher the loan you’ll be granted by Newcredit.

Check Out: Best Students Loan Apps in Nigeria


Until you try some loan apps, you’ll see that the requirements of online loans are not as strict as people framed them to be.

I believe the Newcredit loan requirements provided in this post will help you easily and quickly get loans from Newcredit without worries.

Do you still have questions?  Then, feel free to drop them down in the comment box below. I’ll be glad to help.