Is Lcredit Loan App Legit? (Lcredit Loan App Review)

Is Lcredit legit? You must have been wondering if Lcredit is a legitimate loan app that allows people to take quick loans without using any of their assets as collateral. 

If you’re here trying to find out if Lcredit is a legitimate or fake loan app or money lending app. Then you’re in the right place. We’ve written a well-detailed review of the Lcredit loan app.

In this article, I’ll show you all you need to know regarding the Lcredit loan app and why it is a scam or legitimate app.

In Nigeria today, a lot of loan apps are being published on the play store every day and a lot of people are downloading these apps because of how desperate they are to get quick loans.

Most of these apps give out the loans as promised and others are out there to defraud innocent people of their hard-earned money. We’ve seen cases where people are being asked to pay a certain amount of money before getting loans and in some other cases, people lose their money once they link their bank card to the fraudulent loan apps.

Situations like this are one of the reasons why we established the loan publishing website in other to fight against any loan app that is out there to siphon money from people.

Most of these loan apps are not regulated by the Central Bank of Nigeria which I personally find disturbing. The Central Bank Of Nigeria (CBN) is supposed to ensure that any services that involve monetary transactions which can harm the public should be checkmated for customer or consumer protection in other to create an atmosphere where people can perform any online transaction with confidence without being afraid of losing their money.

To cut the story short, let us dive in and see if the Lcredit loan app is a scam or another legitimate money lending app that is yet to become the next big money lending app in the market.


Also Read: Auto Loans In Nigeria

What Is LCredit Loan App?

LCredit loan app is a money lending application in Nigeria that offers quick loans without asking customers to present any paperwork or use their valuable assets as collateral. The loan app promise to give out loans to their customers once they pass through the verification process. The Lcredit loan app uses a machine learning tech algorithm to analyze users’ data through the help of the bank verification number (BVN) before giving out a loan.

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With the BVN, Lcredit can evaluate the credit score of any customer applying for a loan on its platform. This algorithm allows them to do the following;

  • Know the credit score of the customer
  • To determine the minimum or maximum amount a customer can get from Lcredit
  • To know if a customer is a bad debtor that has been reported to the credit bureau over the failure of paying outstanding debts of other lenders.

According to the Lcredit official website, it stated that “Lcredit is a quality financial platform that allows Nigerians to take loans, anywhere, anytime of the day, be it morning, afternoon or night”.

How To Sign Up On Lcredit

Applying for a Lcredit loan is pretty easy and straightforward. Just follow the simple steps below to get started with your Lcredit account.

Step 1

You need to download the Lcredit loan app in other to proceed with your registration. The Lcredit application is available on the play store for download. You can also download the APK version of the Lcredit loan app from HERE

Step 2

Fill in your information by providing your BVN. (Make sure you enter your real information if you want to get a loan from the app).

Step 3

Get approval and apply for a loan.

Step 4

On successful application and approval, your loan will be disbursed


Also Read: Get a loan in less than a minute

Requirement For Lcredit Loan

As I have mentioned above before, the Lcredit loan app does not require any document, collateral, any document, or requires you to provide any guarantor before getting a loan.

The app only requires you to be an adult from 20-55 years in other to get a loan. If you’re a minor, you cannot get a loan from the Lcredit loan app.

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The Lcredit loan requires you to be a citizen of Nigeria and also residing in Nigeria before you can apply for a loan of any amount.

Lcredit Loan Login

Login into the Lcredit Loan App requires you to have an existing account. When you have an account with the Lcredit Loan App, you can always use your phone biometric to automatically sign in to your account or authorize any transaction using your phone fingerprint.

LCredit Loan Interest Rate

According to Lcredit, their interest rate is 0.1% to 1% of a loan with a tenor of 91 – 180 days. They allow stated it clear that their annual interest rate is from 36%-300%. This interest is calculated on a daily basis.


If you choose a 91-day loan, payment terms have an origination fee of 39% and an interest of 2.7%. For the loan processed with a principal amount of NGN 3,000, the origination fee would be NGN 1,174, the interest would be NGN 81, the total amount due would be NGN 4,255

How To Download The LCredit Loan App (Lcredit loan APK)

The Lcredit loan app is available on the google play store for instant download. The Apk Version of the LCredit Loan App can be downloaded from the APK combo. You can download it by clicking HERE.
The Lcredit loan application is available to android users with an operating system of 4.3 and above, any android with a lesser OS will not be able to run the Lcredit loan app.


Also Read: Loan With BVN

How Much Can I Get From Lcredit Loan App?

As a customer or borrower from Lcredit loan, you can take a loan of N5,000 to N50,000 depending on your credit score. The loan offer differs depending on the customer. A customer with a higher credit score will get a higher amount compared to a customer with a lower credit score.

Pros Of Lcredit Loan

Lcredit has a lot of pros which makes the app another great lending app. These are;
No need for collateral
No paperwork involves
No need to visit their office
Loans are disbursed almost instantly without delay

Cons Of Lcredit Loan

As of the time of writing this post we only saw a few problems with the Lcredit loan. These problems are;
Lower Loan Offer
If you’re looking for a higher loan offer, then a Lcredit loan is not for you. The app only offers as low as N5,000 to N50,000 only.
No Physical Address.
As of the time of writing this article, we couldn’t ascertain the physical address of the Lcredit loan. All we know is that the business is operated from Lagos, Nigeria.

Lcredit Review (Is Legit or scam?)

We have seen a lot of negative reviews about Lcredit online. Most of these reviews might be coming from competitors who are out there to tarnish the image of Lcredit.
Kindly disregard any of those negative reviews written against Lcredit Loan. From our research and use of the Lcredit service, we can confidently tell you that Lcredit is a Legitimate Loan App.

How To Contact Lcredit (Lcredit customer support)

You can contact Lcredit in case of any problem through their email address and various social media handles.
Editors Tips: To avoid being in the black book of money lenders, don’t take loans if you’re unsure of how to pay back the loan. most of these lenders make it clear that they will be getting their money on the agreed date. failure to pay back comes with a consequence. I repeat again, don’t take a loan if you can not pay it back!
we have seen people complaining that disgusting messages are being sent out to their contacts because they’re defaulting on their loans. A lot of Nigerians are bad debtors for some reasons which are known to them. and the only way to get a debt from them is to follow them the hard way. Kindly ensure that you pay back your loan on or before the agreed date. This will help in building confidence between you and the lender.


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