Thanks to fintech platform like Branch loanapplication which offers a quick, easy and hassle free loans without collateral.
Table of Contents
Branch Loan Review?
Branch is the world’s leading mobile banking and personal finance loan app that provides you access to instant loans without any collateral or physical documentation through the Branch loan app.
How Branch Works?
Branch makes it easy for people in Nigeria to transfer money for free, get instant loans up to ₦500,000, and enjoy investment yields of 20% per annum. Complete their mobile loan application in seconds and start enjoying superior value.
At the moment, Branch operates in India, Kenya, Tanzania, and Nigeria.
With branch loan app, you can transfer money and pay bills for free, get instant loans up to ₦500,000 without collateral, and enjoy investment yields of 20% per annum.
Why Branch Loan?
• Branch designed their loan process to fit your needs and help you grow. As you build credit score with Branch, you get the chance to unlock larger loan amounts.
• Unlike other money lenders, branch loan don’t make you jump through hoops or fill out paperwork. Simply apply through the Branch loan app and get approved in under 24 hours.
• Market leading interest rates make your money go further. Branch loan offer flexible withdrawals so that you can access your money anytime, anywhere without any hassle.
• With the Branch Wallet, you can send and receive payments with your friends and family, at a zero cost fee.
• One thing that makes the branch app great is the ability to pay bills with it. You can easily pay bills and purchase airtime and data bundles direct from your Branch Wallet. Transact on the go and enjoy instant purchases.
• Branch don’t charge late fees or rollover fees, they don’t put restrictions on how you spend your money, and their customer support team is available 24/7.
• All the data branch App use is encrypted and protected. Branch loan app have strict policies in place that ensure their methods are properly communicated and customer data is always secure.
• Branch never sell customer data or share customer contacts with third parties.
• Branch loan do not condone any aggressive debt collection practices, including debt shaming.
If you experience any form of harassment via branch loan app, please report the issue to them immediately via branch in-app chat.
Branch Loan Requirements?
Branch Loan Requirements are simple – all you need to apply is your phone number or Facebook account, bank verification number (BVN) and bank account number.
Branch Loan will also request access to the data on your phone in order to build your credit score.
Branch uses data from your phone, including your handset details and SMS messages to automatically make lending decisions.
They combine this with your Branch repayment history to build an individualised credit score, which determines the loan offers you receive.
How To Apply For Branch Loan?
Applying for a loan is easy! After you have downloaded the Branch app, all you need to do is sign up, navigate to the “Loans” option at the bottom of the Home screen, and fill in your personal details, phone number and bank details. Then you can view available loan offers, select an option, and tap “Apply”.
How To Repay Your Branch Loan?
There are several ways to repay a Branch loan.
• In the Branch app with a debit card. Tap here for instructions.
• Via bank transfer to your unique account number. In the Branch app, select ‘Bank transfer’ as the repayment method to view your unique account number. Tap here for instructions.
• For GT Bank, Sterling, UBA and Zenith accounts only, in the Branch app via USSD. Tap here for instructions.
• With cash at a GT Bank branch. Tap here for instructions.
If you are having trouble with repayments please retry or contact us by using the chat feature in the app.
How Much Branch Loan App Offers?
Branch offers loans from ₦2,000 to ₦500,000 cash loan depending on how much you qualified.
Branch Loan terms range from 4 – 52 weeks and their interest ranges from 17% – 40% with an equivalent monthly interest of 1.5% – 20% and APR of 18% – 260%, depending on your loan option.
There are no late or rollover fees and no collateral necessary. Interest rates are determined by a number of factors, including your repayment history and the cost of lending for Branch.
Note: Standard SMS and data charges by your mobile carrier may apply.
Branch Loan Contacts
At the moment, branch loan do not provide customer support by phone number or in person. Please contact branch loan or send them a message via the app any time, and they will help you resolve whatever issue you may have.
Why Create Branch App Wallet?
Branch Wallet lets you perform unlimited free transfers to other banks, pay bills such as Electricity and Cable TV, and buy Airtime & Data via the Branch app with no extra charges. You can fund your Branch Wallet with a Branch loan, bank transfer, or debit card.
• Tap “Add funds” in the Wallet section of the app
• Choose the “Fund from Own Account” option in the “Select Funding Method” menu and tap “Continue”
• Select ‘Bank Transfer‘ and tap ‘Confirm Funding’
• A unique Wema or Sterling bank account number will be provided in the app
• The payment made will reflect in your Branch wallet once the payment is successful.
You can fund your Branch wallet with a Branch loan, debit card, or bank transfer.
Maximum Balance You Can Have In Your Branch App Wallet
Currently, the maximum balance you can have in your Branch Wallet is N500,000, and the highest amount you can deposit and withdraw from your Branch Wallet is N100,000 per transaction.
Please note that this does not affect your Wallet to Investment transactions.
How To Transfer From Your Branch Wallet To Bank
To make a bank transfer to your bank account from your Branch wallet using the Branch app:
• Tap ‘Free Transfer’ in the Wallet section of the app
• Tap ‘Select Destination’ and select ‘My Own Account’
• Select a bank account registered on your Branch account and then tap ‘Continue’
• Enter the amount you want to transfer
• Confirm your details and tap ‘Confirm Withdraw’ at the bottom of the page to complete the transfer
Please note that you will be able to view the new balance in your Branch Wallet after you complete the transaction.
Branch Loan Investment And How It Works?
You can choose between branch Flexi and Fixed investment products.
• With their Flexi Investment, you can deposit any amount and make withdrawals at any time after 24 hours.
• With branch Fixed investment, you can deposit at least ₦5,000 for 1 – 12 months and get your investment amount plus returns paid to your Flexi balance at maturity.
You can also create multiple Fixed investments and select different maturity dates for each of them.
Branch Interest Rate On Investment?
Interest rates on branch Flexi Investment is 20% per annum which is calculated daily and paid every week.
Your weekly interest earnings are added to your branch Flexi investment account and you can withdraw the funds at any time into your Branch wallet.
• Interest on branch Fixed Investment is 20% per annum and is paid out to your Flexi balance once your Fixed investment matures.
• All investments with Branch will be subject to applicable taxes.
Is Branch Loan App Legit?
Branch is a socially responsible company and does not invest in high risk financial instruments that are volatile and unstable. Investments through the Branch app are in low risk securities with capital preservation as the ultimate goal.
• Branch are licensed by the Central Bank of Nigeria to provide fund management services, they take the appropriate steps to ensure that your funds are safe and they are able to return them to you when you need them.
Branch also encourage you to also seek professional advice before investing your funds.
Branch Referral Program
Get your unique referral code here and share with as many friends as you would like.
After a friend downloads the app, make sure they enter your code after they make their first deposit or on their “Promotions” page.
After they deposit into their Wallet and enter your code you will receive a bonus. It may take up to 1 day for you to receive your bonus after they have made their first deposit.
Bonuses are automatically added to your Branch Wallet balance