What happens if you don’t pay the branch loan? The branch loan app is a platform that offers instant loans up to 500,000 naira without collateral or documents.
Branch Loan offers favourable interest rates and gives you plenty of time to repay your loans. The app is available in Nigeria, Kenya, Mexico, India, and Tanzania.
To get a loan on this app, all you have to do is download the app and register by providing all the required details and a loan application.
Want to know what happens if you don’t pay the branch loan? continue reading this post.
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About branch loan
Branch loan app is a platform that offers instant loans up to 500,000 naira without collateral or documents.
Branch Loan offers favorable interest rates and gives you plenty of time to repay your loans. The app is available in Nigeria, Kenya, Mexico, India, and Tanzania.
What happens if you don’t pay the branch loan?
What Happens If You Don’t Pay Branch Loan? We’ve all heard stories of loan apps harassing customers who don’t pay their loans by sending threatening messages and also spreading lies and rumors about them to their friends and family in an effort to get them to pay back their loans.
A 6% late fee may be charged on the outstanding loan amount for some loans. If you are too late with your payments, the branch can report it to the National Credit Reference Bureau (CRB). Being listed in a CRB will prevent you from obtaining loans from other lenders and may also affect your ability to get a job with certain employers.
Paying off your loans on time will give you access to higher loans in the future, so you should always make sure that you take out loans that you can afford.
Branch loan customer service
You can contact the branch through the following channels:
- Email: nigeria@branch.co or support@branch.co for help.
- Instagram: https://instagram.com/branch_ng
- Facebook: https://facebook.com/branchnigeria
- Twitter: https://twitter.com/branch_ng
FAQ – What Happens If You Don’t Pay Branch Loan?
After you must have known what happens if you don’t pay branch loan. See other frequently asked questions about the branch loan app.
What is branch?
The branch is a bank in your pocket. It’s easy for people in Kenya to get loans, transfer money, pay bills, and save at competitive rates. Visit our website for more information.
Where is the branch?
Branch has offices in Nairobi, Kenya. Lagos, Nigeria; Mumbai, India; and San Francisco, United States.
In which countries does the branch operate?
At the moment, the branch is operating in India, Kenya, Tanzania, and Nigeria.
Is there a Swahili version of the branch?
Yeah! Make sure you are using the latest version of the app. Then from your app, go to My Account, tap App Settings, select Language, choose Kiswahili, and tap Submit to save.
How do I get the latest version of the app?
You can follow this link and click update. Or you can go to Google Play, search for “Branch International” and click “Update”.
What networks does the branch support?
In Kenya we support Safaricom. We hope to expand our coverage in the near future.
Can I contact the branch representative or visit the office?
At this time, we do not offer customer service by phone or in person. Send us a message through the app at any time and we will help you with any problem you may have.
How can I fund my savings account?
Currently, you can fund your savings from the Branch Portfolio or Mpesa. Once your branch portfolio is funded, click the “Save” option and then select the type of savings you want to create – flexible or goal and proceed to customize your plan as desired.
What is the return on my savings?
For flexible savings, interest rates are based on the prevailing market rate calculated daily and paid weekly. Weekly interest earnings are credited to your Flexi Savings Account and you can withdraw funds at any time to your Branch Wallet.
For directed savings, interest is based on the rate you are told when you start saving.
Can I withdraw money from my savings account at any time?
With flexible savings, you can withdraw your money at any time.
With targeted savings, Fixed savings can only be withdrawn on the expiration date you selected when you started saving. The target amount can only be withdrawn once the total target amount you entered at the beginning of your savings has been reached.
How do I know my savings are safe?
The branch is a socially responsible company and does not invest in high-risk, volatile, and unstable financial instruments. Savings achieved through the branch application are low-risk securities with the preservation of capital as the ultimate goal.
We are licensed by the Central Bank of Kenya to provide money management services, and we take appropriate steps to ensure that your money is safe and we can return it to you when you need it. We also encourage you to seek professional advice before investing your money. Your deposits are also insured by the Kenya Deposit Insurance Corporation (KDIC).
How do I apply for a loan?
Applying for a loan is easy! After downloading the branch application, all you have to do is register, go to the “Loans” option at the bottom of the main screen, and fill in your personal information, phone number, and mobile money account details. You can then view available loan offers, select an option, and click “Apply.”
How much can I borrow?
Our loan sizes range from a. If you repay your loans on schedule, the amount you can borrow will increase.
How are my loan offers determined?
The loan offers you see depend on several factors, including your payment history with the branch. By paying each installment by its due date, you can unlock access to larger loans over time. Keep in mind that the increase may not always be immediate and paying the loan late may result in smaller loan offers.
Can I request a quantity greater than that indicated?
Unfortunately, you won’t be able to get a larger loan. The fastest way to increase the amount you qualify for is to build credit by making each payment on schedule.
What is the maximum amount I can take?
At the moment, the highest loan amount we offer is, but this may increase in the future.
Conclusion – What Happens If You Don’t Pay Branch Loan?
What Happens If You Don’t Pay Branch Loan? A 6% late fee may be charged on the outstanding loan amount for some loans. If you are too late with your payments, the branch can report it to the National Credit Reference Bureau (CRB). Being listed in a CRB will prevent you from obtaining loans from other lenders and may also affect your ability to get a job with certain employers.
Paying off your loans on time will give you access to higher loans in the future, so you should always make sure that you take out loans that you can afford.
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