When you want to buy something, you press for the best deal available in the market. Getting a Renmoney loan is no different; you have the power to decide the terms that are convenient for you and your finances.
You can choose and decide:
How long to borrow for: Choose from a flexible duration of up to 3 to 12 months; you can negotiate 18 or 24 months on your next loan.
How often to pay: Whether you get to make repayment monthly or weekly depends on you and why you’re taking the loan. Repayment for personal and micro-business loans are made monthly and weekly respectively.
How much it’ll cost you: You see all the details about rates and repayment clearly stated in your loan offer. We’ll make you an offer once you complete your application.
Your cash flow plays a role in the loan offer you get
One of the things we want to know before lending to you is if you can conveniently repay. We’ll review your bank statement and analyze your income (or if you are a business, your cash flow) to estimate your ability to make your loan repayments conveniently.
Sharing your bank statement with us is online and convenient — all you need to do is log in to your banking platform. This process is safe and your information is secured with the best banking technology.
Your credit profile also has a role a play
Businesses want to know more about you and your financial behaviour before they trust you with money. Asides from banks and lending companies, some employers, insurance companies etc. may consider your credit profile/history to decide if they should offer you things like loans, credit cards, mortgages, insurance, etc.
They may also consider it when deciding loan terms (e.g. rate, tenure, etc.).
We’ll review your bank statement and analyze your income (or if you are a business, your cash flow) to estimate your ability to make your loan repayments conveniently.
The Renmoney Team