In Nigeria, navigating unexpected expenses or pursuing new opportunities can be met with a financial hurdle.
Thankfully, gone are the days of long bank queues and tedious paperwork.
Enter TC Money, a dynamic loan app designed to make accessing credit hassle-free and convenient.
But before you dive into a loan application, let’s explore what TC Money has to offer:
Types of Loans
Salary earners: Bridge the gap between paychecks with convenient short-term loans.
Small and Medium Enterprises (SMEs): Boost your business with flexible loans tailored to your needs.
Low-income earners: Get access to inclusive financial solutions designed for everyday expenses.
Loan Products and Services
Personal loans: From emergency needs to personal projects, TC Money caters to diverse circumstances.
Savings accounts: Build a financial safety net while earning competitive interest rates.
Airtime top-up: Stay connected with easy airtime purchases for yourself and loved ones.
Be at least 18 years old.
Have a valid Nigerian Bank Verification Number (BVN).
Demonstrate a steady source of income (for certain loan types).
Maintain a good credit history (not mandatory, but encouraged).
Interest Rates and Fees
TC Money operates with transparency, offering upfront information about interest rates and fees. Their rates are competitive and comply with Nigerian regulations, typically ranging from 3% to 10% per month (equivalent to an APR of 36%).
Repayment Terms and Conditions
Loan repayment periods vary depending on the loan amount and your eligibility. Generally, you can repay within a timeframe of 65 to 90 days. Flexible repayment options allow you to choose installments that fit your budget.
TC Money prides itself on its commitment to excellent customer service. Their friendly and knowledgeable team is available via phone, email, and in-app chat to answer your questions and address any concerns.
Loan Application Process
Applying for a loan through the TC Money app is quick and straightforward. Simply download the app, register with your BVN, and follow the intuitive steps to submit your application. You’ll receive a decision within minutes, and if approved, the funds will be deposited directly into your bank account.
Loan Repayment Options
Repaying your loan is just as convenient as applying. You can easily make payments through the app using various channels, including debit cards, bank transfers, and mobile money platforms.
Is TC Money safe and secure?
Yes, TC Money prioritizes your data security. They utilize industry-standard security measures to protect your personal information.
What happens if I can’t repay my loan on time?
Defaulting on your loan can impact your credit score and lead to late fees. It’s crucial to choose a loan amount and repayment terms you can comfortably manage.
Can I apply for multiple loans on the TC Money app?
No, you can only have one active loan at a time through the TC Money app.
What are the benefits of using TC Money?
TC Money offers numerous advantages, including convenient access to credit, competitive interest rates, flexible repayment options, and secure transactions. Plus, it eliminates the need for physical paperwork and lengthy bank visits