What is Branch?
Branch is a loan facility that makes it easy for Nigerians to have access to quick loan whatever their location within the country. It is a super-fast loan platform offering fast loan in a few minutes after your first signup and registration.
Countries Branch operates
Branch is not only operating in Nigeria, but the company has also been helping many budding entrepreneurs and small businesses get quick loans to support their businesses in other African countries like Kenya, Nigeria, Mexico City, Mumbai, India, even in the United States.
Perhaps you are hearing this amazing company for the first time only in Nigeria, but it has been existing in other countries across the globe, in India, Mexico, Nigeria, Kenya, and Tanzania and more.
How to Get the latest Branch loan App
To get the latest branch loan app, you need to do is make sure that your app is constantly kept updated, you can use this link to keep your application updated, the quickest way would be to visit, Google Play Store on your Android mobile device and update the app, just pull a search for Branch loan app or branch international and click on Updated, if you are using the current version then there is no need that you update the app again.
Branch Loan Nigeria Customer Care Number
Branch does not provide customer support by phone at the moment, so for those of you searching for Branch customer care phone number, At the moment, the next best possible method to get branch loan support is to send them a message, there is a chat application made available inside of the app, you can use that to send a message or ask for support where and when support is needed, and there is a branch team operative that is waiting to attend to your issues in the shortest possible time.
Reach them via social media on :
Branch loan Users
People are giving good testimonies about branch loan app, it is quick and convenient, if you still don’t believe and need proves, you may have to check their facebook page and website click here to see what customers think about Branch loan application.
Requirements & Eligibility
You need to carefully read this part because it is the part that many people struggle and have issues with, Branch loan has a very simple and convenient requirement for everyone and anyone who is willing to use Branch loan credit facility.
Before you can get a loan from Branch, you need to first sign up/register/apply with your phone number, the phone number must be linked to a Nigerian bank account and must have a BVN-Bank Verification Number, and a valid and working bank account number from any commercial bank in Nigeria.
You will also be required to allow Branch to have access to the details on your mobile device, this is done so that the company can be able to build your credit score and determine your loan worth.
These are the list of the commercial banks that branch currently supports, ALAT by Wema Bank, Citibank Nigeria, Diamond Bank, Access Bank, Ecobank, UBA bank, Enterprise Bank, First Bank, Fidelity Bank, GT Bank, FCMB Bank, Heritage Bank, Skye Bank, Keystone Bank, Stanbic IBTC Bank, Heritage Bank, Standard Chartered Bank, Mainstreet Bank, Sterling Bank, Suntrust Bank, Unity Bank, Wema Bank, Union Bank and Zenith Bank.
Can I apply for Branch loan if my bank is not on the list?
Listed above are all the banks that branch currently supports, those are the major commercial banks in Nigeria and in major parts of Africa, in some cases some customers have more than one bank account with different banks, so there is likelihood that you are already using any of the above bank accounts, In case you are not, it means you cannot access the Branch loan app as the bank may not be supported, however, you can contact the branch support in the app to confirm if your bank is eligible.
Download the branch loan app and receive your first loan easily.
How Branch makes lending Decisions
Many people don’t know that Branch makes a lending decision by using data and credit information collected starting from your phone details and SMS messages, that information is combined with your loan repayment history to award you the next possible loan and time to repay it. In some cases too, they have your credit report checked wit the Credit Bureau.
Branch Loan Rejections
If you face rejection on your Branch loan application, all you need to do is to build your credit score more and then reapply again, some people have had to apply several times before they qualify for a loan with Branch. Be sure that your mobile consists of enough SMS details so the company can determine your loan offer.
Application Process Time
Branch usually process your first-time application/registration within 24 hours, once you qualify to get a loan you will immediately see from your branch mobile app, subsequent loan application from Branch will be disbursed in a couple of minutes.
Download the branch loan app and receive your first loan easily.
How can I increase my chance of being accepted?
You can improve your chances of been accepted by keeping more information on your device and make sure that your account details and all other information are supplied correctly.
What if someone else applied with my phone?
I have heard a few cases related to this, that is why you should keep your mobile as secure as possible, you will be responsible for the Branch loans on your mobile, and you cannot have multiple branch accounts on the same phone and line. You may need to use another mobile to access branch loan.
Branch loan Application Process
Applying for a loan on Branch is super easy, all you need to do is proceed to Google Play Store on your app, or click this link
1. To do this you must have an active data connection,
2. From the Play Store app, search ‘Branch loan app’ then click on download, once the app is downloaded
3. Click on ‘Install’ to make it a running app on your Android mobile
4. On your mobile, launch the Branch mobile app, and follow the onscreen instructions to supply all the necessary details, this may be quite lengthy and take some few minutes, but be sure to supply all the necessary detail. , phone number and bank details.
5. Once that is done, proceed to the “My Loan” page, see the available loan offers on the scrolling menu and click “Request this Loan” to request for a loan
How much can I borrow on Branch?
How much you can borrow from the app, Branch Loan app offers loan from ₦ 1,000 to ₦ 200,000. If you’re quite on time with your loan repayments, you will build your credit score on the Branch loan app, you will be given higher loan offers and sometimes spread loan repayment for more than one month.
Branch loan offer is determined by a number of factors, such as repayment history, paying your installments by on or before the due date, will open doors to larger loans. However, you need to understand that, your loan offers may not always increase immediately, and if you are in the habit of repaying your loans late, you will damage your credit and have small loan offers as the system refuses to trust you.
Can you apply for a higher amount than shown?- You will not be able to apply for a higher amount than what you are shown on the Branch loan app, that is simply because the system determines your creditworthiness, you need to build your credit by paying your loans on time before the schedule.
Minumum and Largest Loan offer on Branch
The largest loan offer on Branch at the moment is ₦ 200,000. Being on time with smaller loans will open the doors for you to get to the climax of branch loan offer which is ₦ 200,000.
The Minimum loan offer on Branch is ₦1000
This may be quite easy for those that are small business owners who need loans to grow their business, salary earners may struggle with this type of loan, if you are a salary earner and wants to take Branch loan it is important for you to be certain that you will be able to repay whatever loan amount you are applying for as at when due.
Branch loan Interest Rate
The interest you pay is also determined by a couple of factors, if you that type that doesn’t default and pay back your loan in good time, your good repayment history on the Branch loan app will help you get interesting interest rate, because according to Branch company you just made the cost the company had to incur on lending to you minimal.
However, the company listed out some likely factors, that may affect or determine your Branch Loan Interest Rate.
|Loan Terms||4 Weeks to 15 Months|
|Interest Range||14% to 28%|
|Equivalent APR||15% – 260%|
|Monthly Equivalent Interest||1% to 21%|
Please note that it is the borrower that will bear any bank transaction fees that may be attached to loan repayment.
Will my loan offer increase every time I repay?
Your loan offers are automatically determined by a number of factors. Even though it may not always increase immediately, it will increase over time as you continue to make all of your repayments as scheduled.
Branch Loan Repayment
How to repay your branch loan using different available methods
Branch has made it super easy for you to repay your loans, in case you run into issues, using any of the payment options, you can easily turn to the other repayment methods to get your loan sorted. There are several method made available for you to repay your branch loans and we shall uncover them and show you how to go about using those methods properly to settle your Branch loans.
First Method: Debit card
- Go to’My Loan’ section in your branch loan app.
- Click on ‘Tap to Pay’ button.
- Click on the amount you want to pay
- Click on ‘Continue’ once you have picked your desired option
- There is the ‘Select Repayment Method’ on the option, choose ‘Debit Card’ from the dropdown menu
- Proceed by adding your Debit (ATM) card details: Do this by supplying thr 16 digit number on your Debit/ATM Card Number, it maybe 19 digits sometimes
- The next thing is to supply your Card Expiry Date, it is directly under the 16 digit on your card
- You CVV details is next, it is usually at the back of the card, it is a 3-digit number at the back of your debit or ATM card
- Once you have carefully supplied all the card details, click on ‘Continue’. If you want branch to auto-debit your loan on the due dates in the future, click on the ‘Payment Options’ then ‘Continue’.
- In order to make sure, the transactions are originally initiated by your and not by a stranger, you will be sent some codes from your bank, it is called OTP- One Time Password, it is like a pin or security code, it is an extra layer of protection and security that branch has put in place to keep your branch loan account secure.
Once your see, Loan prepayment successful, it means you have fully settled your branch loan payment. You will not incure any extra charges on this transaction.
Branch loan Repayment with Cash
Another easy method made available by branch to settle your loan is through cash. If for some reasons you couldn’t resettle your loan using credit card, you can pay cash in bank.
This works by walking into any Guaranty trust bank close to you, through GTCollections. You do not need any account to make a payment, simply follow the below steps:
1. Walk into any GT Bank premise, and pick up a deposit slip,
2. On the account, name space fill in Account Name as ‘Branch International Financial Services’ leave the Account Number section it is not required.
3. The next part is a little bit tricky and should not make any mistake, you are expected to Write the legal name you used in opening your Branch account as the Depositor’s Name
4. Fill in the depositor’s Phone Number as the number that is linked to your Branch loan account
5. Please note that you will be required to pay a bank charge of N100, and your loan will be resettled within 24 hours
Branch Late Loan Repayment
If you miss your payment it is a big mishap that can have a negative effect on your reputation, you will risk getting any further loan from Branch and other loan provider institutions within the federation. Branch advises that you pay each installment as at when due you can be able to build your credit score thus increasing your loan limit.
Very late payments may attract being reported to the National Credit Reference Bureau (CRB).