C24 loan review (Is C24 loan legit?)
Table of Contents
C24 loan review (Is C24 loan legit?)
Read all about C24 loan in this C24 loan review.
There are times in life when we urgently need money to solve a pressing issue, and maybe we can’t quite seem to get it from friends or family. The next best option is to get a loan.
Taking loans from commercial banks is a very stressful process, the paperwork and also the fact that you will need a collateral just puts off most people.
In the past few years, there has been an increase in the number of apps & platforms that offer small loans to students, entrepreneurs and business owners.
C24 is a financial institution that provides loans to individuals and businesses of up to 5 million naira depending on your credit score.
C24 claims to offer loans with good interest rate that only takes a few minutes, in other for you to take care of pressing needs.
In this C24 review, I am going to writing about all you will need to know about C24 loan under the following sub-topics “Is C24 loan legit?”, “C24 loan requirements”, “C24 loan app”, “C24 loan interest rate”, “C24 repayment”, “C24 customer support”, “How to apply for C24 loan” and more.
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Let’s get into it then…
What is C24 loan?
C24 is a financial institution that provides loans to individuals and businesses of up to 5 million naira depending on your credit score.
C24 claims to offer loans with good interest rate that only takes a few minutes, in other for you to take care of pressing needs.
C24 capital is a financial institution which provides retail loans for consumers in need of quick financial solutions.
According to it’s website “We are committed to meeting our customer’s need at the quickest possible time, we understand the fact that life wouldn’t hold, neither should our clients, hence the reason why we offer top notch service at the fastest possible time.”
Types of loans on C24
C24 offers three types of loans:
- Personal loans
- Business loans
- Quickcash loans
Personal loans
C24 offers individuals loan of up to 2 million naira in other to sort out issues like bill payments, house rent, medical bills and other issues.
Business loans
C24 offers 3 types of business loans:
- Overdraft
- LPO Financing
- Lease financing
Overdraft
This loan assists client’s business in the event of emergencies. This facility enables you to withdraw more money than you currently have in your account, granting you access to emergency funds.
LPO Financing
This package grants reputable vendors and contractors access to advance capital required to carry out work & purchase orders. It ensures continuity for the business operations & ultimately fosters growth & expansion.
Lease financing
This allows beneficiaries to purchase equipment’s tools and machinery to invest for business use.
Requirements for C24 loan
The following are required for getting a C24 loan:
- A valid national ID (Driver’s license, international passport, national voter’s card)
- A copy of your most recent utility bill
- A passport photograph
- An employment letter to confirm that you are an employee or have a sustainable means of income.
- 6 months’ bank account statement
- Company identification
- Direct debit mandate
- A formal letter requesting the loan, written on your company’s letterhead
- You must be actively employed or must have worked for at least six months before the loan application.
- You must be up to the age of 22
- You must have a functional bank account.
- You must have sufficient transactional history to show that you can pay back.
C24 loan interest rate
Read my Gocash app loan review
C24 interest rate is usually at 4% per month, and there is also a one-time 4% management fee. You are usually given 3 to 9 months to repay, if you fail to make payment at the due date, C24 charges you 1% for each day that you default.
C24 repayment
C24 will give you 3 to 9 months to repay, the repayment is usually done on your salary payday. If you fail to make payment at the due date, C24 charges you 1% for each day that you default.
You can pay via any of the following:
- Direct debit
- Cheques
- POS terminal
- Standing order/instruction
How to apply for C24 loan
Since C24 does not have an official app on either playstore or app store, you usually apply for a loan on their website https://www.c24ng.com or by visiting their office.
To apply for a loan on C24, follow the below instructions:
- Select the category of C24 loans you want i.e. Personal loans, business loans or quick cash loan
- In the next page, there will be an application form for you to fill that requires details like your BVN, address etc.
- Choose an amount and loan tenor you want through the loan calculator and you will be shown how much you would have paid at the end of the loan tenor.
- Click on apply for this loan
- After you have submitted, your application will be reviewed and it should be approved I 2 to 3 days, as long as you meet the requirements.
C24 loan app
As at the time of writing this post, C24 don’t have an app on the Google playstore or the iOS app store. You can apply for loans on its website https://www.c24ng.com
C24 loan customer support
If you want to get in touch with C24, you can do that via the following channels:
Address: 4 Adenubi close off Majekodunmi street, off Allen avenue, Ikeja Lagos
Phone number: 08103155826, 09090897471
Email address: contact@c24.com.ng
Is C24 loan legit?
Yes, C24 is a legit platform. They give out personal and business loans at a fairly good rate. There may be other platforms that offer better rates, but C24 is a decent option.
You can leave your reviews about C24 loan in the comment section below.
Read on the best loan apps in Nigeria 2021
Conclusion
Thank you for reading my C24 loan review. If you have any question or comment, you can leave it in the comment section below.
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