Frequently Asked Questions

What services does RexCredit offer?

RexCredit is a finance organization that operates under a Money Lenders license
in Lagos, Nigeria. Our products include Personal Loans, Business Loans – such as LPOs,
invoice discounting, working capital, etc. and investments.

What are the requirements for a personal loan?

Please see below our requirements;

  • You should be between 22 and 60 years old.
  • Have a Current or Savings account with a commercial Bank in Nigeria.
  • Live and/or work in Lagos State.
  • Have a verifiable monthly income. If you’re self-employed, business must be duly
    registered with the CAC. If servicing a project for an LPO request; you must have
    a recent verifiable LPO document that has been delivered and paid for.
  • Have a good Credit Bureau Report.
  • There should be no history of returned cheques on your accounts.

How do I access a loan from RexCredit?

Apply online on https://rexcred.com :

  • Fill the application form.
  • Upload requested documents.
  • Or

  • Share your phone number and email address with us at https://rexcred.com/contact and we will take it from there.
  • You can also contact our call center on 01-6305628 and a Relationship
    representative will attend to you.

 

Do you give loans to people outside Lagos?

Our loans are limited to individuals living and working in Lagos. We will share your
details with our sister firm to contact and attend. Kindly share your email address
and phone number with us on the contact form.

Is your loan limited to salary earners alone?

Our loans are not limited to salary earners. We offer loans to salary earners and
business owners who meet our requirements.

What are the requirements for a business loan?

  • The business must be duly registered with the Corporate Affairs Commission.
  • If servicing a project or an LPO request; you must have a recent verifiable
    LPO document that has been delivered and paid for.
  • Have a good Credit Bureau Report.
  • No history of returned Cheques on the account.

I do not meet all the loan requirements?

Please contact our call center on 01-6305628 and a relationship representative will
attend to you properly.

Why are you requesting for BVN?

The BVN is a unique identifier for each bank customer required by the CBN as
standard KYC (Know Your Customer) procedures. Since RexCredit operates under a
Lender’s license and requires your bank details to structure loan repayment;
we need your BVN to process your loan application.

What is your Interest rate?

This depends on a number of factors. You can try out our loan calculator at
https://rexcred.com/ to get an estimate.

What is your call center contact details?

Please contact our call center on 01-6305628 and a relationship representative will
attend to you.

Do you take investments? What are the conditions

Yes, you can lend money to the business at attractive interest rate. Consider investing in the
business and grow with us. Contact us at contact@rexcred.com for details. Thank you.

How do I get more information about RexCredit?

For more information about RexCredit, kindly visit www.rexcred.com or contact our call center
on 01-6305628 and a relationship representative will attend to you.

How long does it take to receive the loan after submitting all my document?

Your account will be credit within 24 hours once your loan application is
approved.

Why was my loan application declined?

Apologies if this causes you any discomfort. After the review of your submitted
documents, you do not meet the full requirements to access a loan.

Why are you offering me a lesser amount than what I applied for?

Your debt-to-income ratio cannot accommodate your loan request. We abide by
statutory regulations in the discharge of loan provision i.e. The portion of a customer income for loan finance should not exceed one third.