Lcredit loan app review: is it legit or a scam?

Hello, folks. Welcome to ListAwe— your number one question answering blog. Today, we would be taking a look at the Lcredit loan app. In this review, we aim to give all the best possible answers to the frequently asked questions about the loan app.

Securing loans in the past was a stressful and stress-filled activity. There would be several paperworks to be filled, several informations to be provided and in some cases, you would be asked to provide a collateral.

But things are different these days and we have the advancement of technology to thank for it. Nowadays, we have loan apps. Apps that operate online and which do not require users going through nerve-racking processes to secure a simple loan. One app that belongs to this class is Lcredit loan app.

What is Lcredit loan app?

The Lcredit loan app is an app that provide loans to entrepreneurs, small and large businesses, students and individuals. The app is owned by a company which bears its name— Lcredit.

Registered online as the website:, Lcredit has a definition of its own creation.

Lcredit is a quality
financial service platform for Nigerians to get
loans, anywhere, anytime in any emergency,
whether it is day or night, you can get the loan.

The app claims to offer loans up to the value of 50,000 Naira to Nigerians!

That is a very generous offer if you ask me but it is understandable. The niche of this platform is saturated so it had to come up with an offer that is enticing enough to beat its competitors.

According to, you can secure loans of up to ₦50,000 as a Nigerian without really needing to fill any paperwork or provide a collateral! With the Lcredit loan app, you can get your loan application approved in minutes and your cash can get to you in less than 10 minutes. Wow, really?! You bet.

So now that you know all these, I bet your next question is the below.

How do I apply for a loan on Lcredit?

If you are ever in need of a loan and you decide to use the Lcredit platform, you are in for a stress-free journey. Here are the four simple steps you’d need to take to secure a loan on the Lcredit app;

  1. Open an account using your device. Lcredit has an Android app, I’m not sure about iOS users.
  2. Submit your Bank Verification Number (BVN).
  3. Submit the above and your loan will be approved.
  4. Wait will the system reviews your request. In some minutes, your money will be transferred to you.

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What do I need to get a loan on Lcredit?

Lcredit has only one requirement; your Bank Verification Number. While you must be in between the age of 18 to 55 years to secure a loan, the only thing the app actually asks for is your BVN.

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Lcredit Loan Interest Rates

Lcredit offers loan interest rates with a minimum of 0.1% up to 1% for loan periods in between 91 to 180 days.

Annual interest rates from 36.5% to 300%. Interest rates are calculated on a daily basis.

If you choose a 91 days’ loan, payment terms would have an origination fee of 39% and an interest rate of 2.7%. Do you have difficulties understanding this? Let us take an example then.

Suppose you secure a loan with a principal amount of 4,000 Naira, that would mean an origination fee of 1,560 Naira and an interest of 108 Naira. Adding the two together, you’d have to repay 5,668 Naira.

Is Lcredit loan app legit or a scam?

You can be sure that Lcredit loan app is legit. They seem to fulfill their promise of giving loans of up to 50,000 Naira.

If you go online and read reviews of the app especially on the play store, you’d see that there is very little monkey business going on. Almost all reviews are positive. Here, at ListAwe, we take individual reviews very seriously.

Lcredit does have some bad reviews though and these are mostly about their customer care. Response time to complaints is believed to be slow. Apart from this, Lcredit seems to be a legit platform.

Lcredit Customer Support

In case you have pressing issues which you need answers to, it is always a good idea to contact the customer care. After all, customers care systems are set up for this exact reason.

For Lcredit, their customer care Support are as follows:


That’s about all you need to know about Lcredit loan app. Don’t just take my word for it and go ahead to secure a loan, do a bit of investigation on your part.

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Stay safe, with love from ListAwe.