Newcredit is among the many online loan apps that provide flexible loan terms, allowing you to access instant payday loans without the need for collateral or a guarantor. Repaying your Newcredit loan is hassle-free and can be done through various online and offline methods. In this guide, we will walk you through the step-by-step process of repaying your Newcredit loan, ensuring that you understand the options available to you.
Repaying Newcredit Loan:
Newcredit offers flexible repayment options, including prepayment and automatic deduction methods. Repayment can be done online or offline, making it convenient for you. However, it’s essential to note that late payments may result in increased interest rates. Let’s delve into how you can repay your Newcredit loan online.
How to Repay Newcredit Loan Online:
The repayment process on Newcredit is straightforward and resembles the interface of Palmcredit. Follow these steps to repay your Newcredit loan:
- Open the Newcredit app on your phone.
- Locate and click on the “Repayment” option.
- Choose between “Repay Only” or “Repay and Re-loan.”
- Click “Confirm.”
- Select from the available repayment options:
Debit Card (ATM Card):
- Click on “Repay with BankCard.”
- Choose an already linked card or add a new card by entering your ATM card number, expiry date, and CVV number.
- Click “Confirm” to proceed with the payment, and your account will be updated.
USSD Method (GT Bank accounts only, powered by Paystack):
- Click on “Bank or USSD” from the repayment options and click “Confirm.”
- Select “Pay with USSD.”
- Copy the provided code and paste it into your phone dialer.
- Complete the payment and confirm it.
Bank Transfer (Mobile App):
- Choose “Bank Transfer” from the dropdown menu and click “Confirm.”
- Agree to the terms and conditions.
- Note the bank name and copy the Providus account number.
- Paste the account number in your bank’s mobile app transfer tab to initiate the payment.
Offline Repayment on Newcredit:
If you prefer offline repayment, follow these steps:
- Visit a Newcredit store with your repayment money, phone number, and Newcredit Client ID.
- Provide the necessary details to make the payment in person.
Conclusion:
Repaying your Newcredit loan is a user-friendly process, offering both online and offline options for your convenience. Whether you choose to repay using your debit card, through USSD, bank transfer, or in-person at a Newcredit store, the steps are clear and accessible. Remember, repaying your loan on time not only helps you maintain a good credit score but also prevents the accumulation of additional interest charges. Stay financially responsible and enjoy the flexibility that Newcredit offers for loan repayment.