Is Branch instant loan app genuine in Nigeria? (Answered)
With a myriad of instant loan apps in Nigeria, any online borrower would want to commit to an app that offer the best credit services while remaining legit and authentic at the same time. Branch is one of the popular quick and instant mobile loan providers in Nigeria, Ghana, and India, so if you are wondering whether it’s genuine or not, we are going to help you find out.
In this review guide of the Branch loan app in Nigeria, Ghana, and India, we will answer all your burning questions in regards to our interaction with the app. This includes Branch loan limit, interest rates, how to download and use their app, and their repayment period. At the end, you will have a better understanding of whether to borrow online using the Branch credit platform or to consider other various loan app options available in Nigeria.
| Loan limit | ₦2,000 to ₦1,000,000 |
| Repayment period | 62 days to 1 year |
| Interest rates | 3% to 23% |
| Loan Requirements | Download Branch instant loan app |
What is Branch loan app?
Branch is a mobile lending platform and a digital bank that operates in Nigeria, Ghana, and India, offering instant mobile loans for personal use and business to individuals with varying needs through their instant mobile app. Branch utilizes advanced algorithms and machine learning techniques to assess the creditworthiness of applicants. This involves analyzing various data points, including financial transaction history, phone usage patterns, and other relevant information.
Is Branch loan app genuine?
Branch is authorized, registered, regulated, and RBI-Licensed as an NBFC and has been a trusted brand in 4 countries across the globe. With over 40 million downloads in Nigeria, Ghana, and India, borrowing money online through the Branch loan app since 2015, it makes this platform one of the most popular and credible credit app in the world.
How do I borrow money from Branch app?
To borrow money online using the Branch loan app in Nigeria, Ghana, and India, follow the simple steps below to get started:
- Go to your phone and download the Branch mobile loan app which is available for users in Nigeria, Ghana, and India on Google play store.
- After installing the app, launch it and create a borrower’s account. You may need to verify your number in any case.
- Fill out the loan application form and submit it for approval.
- Once your loan request is approved, you will receive the requested loan amount on your account.
How much can you borrow from Branch loan app in Nigeria?
For users in Nigeria, the Branch app offers a loan limit that ranges from ₦2,000 to ₦1,000,000 which is subjected to increment depending on your repayment history. Branch encourages all its customers to repay their loan balances in time to increase their chances of getting wider loan limits that next time they are borrowing money online through the Branch app.
How long does Branch take to process a loan?
Once a user applies for a loan through the app, Branch quickly processes the application and determines the loan amount they are eligible for. Loan approval and disbursement usually occur within minutes, making it convenient for users in need of quick funds. For instance, after submitting your loan request or application, Branch loan app in Nigeria, Ghana, and India will take up to 3 hours analyzing and finally will approve your loan request once you are eligible.
What is the interest rate of Branch loan app?
Branch offers a monthly interest rate of 3% to 23% depending on the risk profile of the customer in Nigeria, Ghana, and India with tenure of 62 days to 1 year. The repayment options are flexible, allowing users to repay their loans through various channels such as bank transfers, debit card payments, or direct deductions from their bank account.
Editorial Remark
If you were wondering whether Branch instant loan app is genuine, the answer is yes. This loan app has been in operation since 2015, providing quick mobile loans to users in Nigeria, Ghana, and India. However, it’s important for users to carefully review the terms and conditions, including interest rates and fees, before applying for a loan through the Branch app to ensure they understand the financial obligations involved.
