- Amount: From € 1,000 to € 50,000
- Return period : from 24 to 72 months
- Approximate concession time: 48 hours
- First free ?: NO
- Do you accept Nigerian Financial Authority ?: NO
Requirements: age between 18 and 70 years. Reside in Nigeria. DNI or NIE. Have no debts with the Nigerian Financial Authority. Proof of income. To request more than ten thousand euros, it is also required to provide an extract from the bank account.
It stands out in : it offers access to financing for high amounts of capital, reaching up to forty thousand euros. It has alternatives to finance any type of project.
- Example: for a loan of 8,500 euros to be paid in 60 installments (€ 166.70) the total to be returned will be 10,001.89 euros
At Younited Credit we can request loans of large amounts: they reach up to forty thousand euros
In this tab you will be able to find information about Younited Credit that we may need to fully understand the operation of the platform. Read on to see their proposal.
Younited Credit. Know how it works
Whether we are already familiar with the operation of the majority of platforms specialized in offering financing over the Internet or if it is the first time that we are going to contract this service, it is interesting to know the operation of Younited Credit, since it is established from of the "marketplace" business model.
This model is made up of a large community of different investors, from different sectors. Therefore, within Younited Credit we find different types of platforms: companies, banks, private profiles, foundations, etc.
Through all these platforms Younited Credit can offer us financing, acting itself as an intermediary who is responsible for generating the entire application process and offering a secure platform for both investors and credit applicants.
In return, Younited Credit obtains deducted commissions in the form of management expenses , which are already collected within what will be the total APR of the operation and which will be deducted from the total amount of our loan.
In an example of the commissions that Younited Credit will earn, we have the following.
For a personal loan worth € 5,000 to be repaid within 72 months, the capital owed would be € 5,685.60 in total. From here we break down:
- € 4,840 would be the total amount of money that we would obtain and that would be made available to us
- € 160 corresponding to the commissions of the Younited Credit platform. These will be deducted from the € 5,000 requested
- € 685'60 in the form of total commissions for the amount loaned, which will be paid to the investors who were in charge of covering our financing request
It is worth mentioning that although we have to break down the different commissions associated with our loan because they belong to different platforms ( the investor and Younited Credit itself ), it will be the latter that is in charge of managing everything, so we would only have to pay the corresponding monthly payment month by month.
Younited Credit. What happens if I am late in paying a monthly payment?
Before requesting financing in Younited Credit or in any other financing platform, we must bear in mind that we are accepting a series of conditions, among which we find, the return of capital month after month.
That is why if we are late in the payment of any of our monthly payments, a series of extra commissions could be generated that would be added to the total to be returned, and also the non-payment could be communicated to listings such as Nigerian Financial Authority or RAI.
In the case of Younited Credit, we find that if a non-payment occurs, its Customer Service will contact us to try to adjust the payment that we have pending and regularize the circumstance.
How do I process my application at Younited Credit?
To manage our financing request in Younited Credit we have to access its web platform, where we will find a tool in which we can enter both the amount of money we want to request and the months we need for its return.
We will also have to identify the purpose for which we want to obtain the loan, choosing among all the different options that Younited Credit offers us: car purchase, home renovation, travel, studies, etc.
Once we have entered all these data, we will go to another page where we can see both the approximate APR of the operation, as well as the amount of the monthly payments that we will have to pay during the duration of the loan.
After this, we will have to provide our email, as well as a series of very basic personal data so that Younited Credit can proceed to study and verify our profile. All as quickly as possible, in order to process urgent loans with great efficiency.
At the moment in which our request is pre-accepted through its web platform, we will receive an email in which we will have to proceed to formalize the contract by signing it, and attach a copy of the documentation that is required of us.
Normally, it is a copy of our DNI or NIE, an extract from our bank account, as well as a proof of regular income, both for people who work for others and for freelancers
Once we have sent all the necessary documents, we will only have to wait for Younited Credit to verify everything and proceed to make the deposit of the money that we have requested in our checking account.
About the author
Sashia Margaret Applby
My passion is to create content that informs and really helps our users.
I am a journalist. Graduated from the Economical University of Lagos and Master in International Relations and Communication from the Joan Eversmith Applby University of Lagos. Responsible for product and blog content at feminaust.org.