Marketing Automation Statistics
Renmoney is a consumer finance organization that was founded in Lagos in 2012 under a microfinance banking license providing simple finance solutions. Renmoney was formerly known as Rencredit before it was changed in 2013 and has since then been widely known as RenMoney.
If you are very conversant with the new trends on the internet, then there is a probability that you have heard of RenMoney.
RenMoney loan app enables you to get a loan of up to 4 million naira from the platform. Other than RenMoney, we have other loan apps like Kwik money that are hitting it well in the financial technology.
Read also : Perfect Money in Nigeria
So let get into details of what RenMoney has to offer.’
What is RenMoney?
Renmoney is a fintech company that specializes in loaning money to its users under a microfinance banking license in Lagos, Nigeria. It is widely known for giving out loans in Nigeria without a collateral and a guarantor.
RenMoney makes the getting of loans simple and easy enough for you to get it within 24 hours of application.
Other than lending of loans, Renmoney also offers an investment service that enables individuals and small business owners to invest and get an annual interest over their capital investment.
RenMoney is not the only app loaning money to people, there are other FINTECH companies like Kwik money, whose main business is giving out loans on a basis to people.
So this means that you can be assured of getting loans online without having to turn to your local bank.
Read also - How to Make Money Online in Nigeria
RenMoney has been in existence since 2012 and has been providing loans to individuals and business owners. And up to date, RenMoney claims to have given out over 200,000 loans to individuals and entrepreneurs.
The FINTECH industry is ever growing and there has been talk in the industry with statistics showing how well the financial technology industry is kicking the banking industry very well.
So we should not be surprised at that presence of more companies like Renmoney, Kwikmoney, coming out in large numbers.
In order to obtain loans from RenMoney, you need to meetup with their requirements to be eligible for the program.
Who is RenMoney for?
RenMoney is for individuals and small business owners in need of loans from N50,000 to 4 million naira.
Requirements for RenMoney Loans
Though I have stated above that to obtain RenMoney loan, you do not require a collateral, there are still some requirements that qualifies you for a loan.
Below are the requirements that qualifies you for a loan
Below are the requirements that qualifies you for a loan
- You must have an active bank account with any commercial bank in Nigeria
- You must have a well-paying job or a sustainable business
- You should be between 22 and 59 years
- You should be able to verify your monthly salary with your company
- Your credit report Bureau report should be clean
- You should be able to provide statement of your bank account for up to six months. There should be no issues of returned cheque.
- You should be able to provide a recent passport photo
- You must make sure you have a staff identity from where you work
- Have a tax or pension identification
- Must have a valid ID that can prove your identity
- You must need a letter from the human resource of your company
- You should be able to present utility bills
- Reside and work or do business in Lagos
How do I get a RenMoney Loan?
Okay here is the deal point. So how do you get a loan from RenMoney?
Visit RenMOney Website
You can obtain your loans by filling out a form on RenMoney website. The website also contains other necessary information to guide you.
Fill in the Application Form
On the website sign up page, you will find an application form to fill for the collection of loans
Upload Necessary Documents
After filling your necessary information, you will need to upload your ID, proof of address (NePa bill, or other things), bank statement.
Submit
Upon submitting your application form, all you need to do is wait for your loans which gets to you within 24 hours.
2ND Method
The other method is that you go to any of RenMoney branch and source out your loan instead of applying online. And if you are applying manually, you will need to go with your necessary documents like ID card, proof of address, etc.
RenMoney Interest Rate
Ren Money offers an interest rate up to 35.76% for a full year repayment and is lesser if you are paying your loan back in 6 months or lesser.
With the interest rate, it is clear that this is why Ren Money offers an unsecured loan in exchange, they have a bit higher interest rate compared to other local banks.
That being said, the loan term for RenMoney is between 1 month to 12 months (a year)
With the interest rate, it is clear that this is why Ren Money offers an unsecured loan in exchange, they have a bit higher interest rate compared to other local banks.
That being said, the loan term for RenMoney is between 1 month to 12 months (a year)
Pros and Cons of RenMoney
Pros
- Getting of loans is easy
- Does not require a collateral
- You can get up to 6 million naira in loan
- 24hours loan provision
Cons
- It is limited to Lagosians (people who live in Live or work in Lagos)
- Poor customer system
- High loan interest rate (35.76%)
Who Uses and Recommends RenMoney?
RenMoney has gotten the trust and support of other big companies like CNBC AFRICA, PUNCH, VANGUARD, TheGuardian, and TechPoint.ng and Ventures.
There are a good number of individuals that make use of RenMoney.
Repayment of Loans
RenMoney offers a simple way to repay back loans whenever due or even before its due. You can choose to payback in a month or two and you can also extend your payback to as long as 12 months (which is the limit).
To payback you make use of the Quickteller portal to make payment back to the system.
Other methods of repayment
Other methods of repayment
1. Cash deposit or transfer into any of the designated Renmoney accounts (GTBank and Polaris bank). The bank account can be found on the website.
2. Pay back through Paystack. Click here to payback.
3. You can also pay back by cheque, if the loan is large.
RenMoney FAQs
How Long Does it Take to Process a Loan?
Your loan process can be completed and your loan given to you within 24 hours provided all documents are valid and presented on application
What Documents do You Need to Apply for a Loan?
You need your bank statement, a government issued ID card and utility bill (this is optional)
Does RenMoney Require your BVN?
Yes. This is a CBN policy applicable to financial institutions as part of KYC requirements.
Don’t leave yet.
Don’t leave yet.
Other than provision of non-collateral loans, RenMoney also have an investment product which allows you to invest your money into their company and get an interest over your investment capital.
With the investment, you get to earn up to 13% per annum.
You can start investing as small as 50,000 naira upward.
They offer two investment plans for individuals and small business owners.
You can start investing as small as 50,000 naira upward.
They offer two investment plans for individuals and small business owners.
They offer the savings account and fixed account.
With the savings account, you get a 10% per annum interest over your savings. And with the Fixed account you get up to 17% per annum interest over your savings.
RenMoney has a calculator that enables you to calculate the interest for your capital investment and vice versa too the interest over your loans.
Download RenMoney Loan App
Renmoney does not have an app. We will update this when RenMoney launch their mobile app
Conclusion
Here we are at the end of RenMoney review. RenMoney is yet another fascinating FINTECH startup that is the way people obtain and source out loans for personal need or business needs.
Though RenMoney isn’t the best out there, they are ever growing and we can always expect better offers for the consumers and users.
That being said, have you used RenMoney before?
What was your experience using RenMoney?
What was your experience using RenMoney?
How was their support system, loan obtaining process, and were you able to get your loan within 24 hours as they claim?
Drop a comment and let hear your view and experience with them. I will update this review with your own personal review.
So let keep the comment rolling.
So let keep the comment rolling.
Guruscoach Entrepreneur Digest
online businesses
How to Avoid Making Excuses All the Time - No Excuse
original post published on - https://guruscoach.com
How to Avoid Making Excuses all the Time - Say No to Excuse
Ohhh!
You have an assignment to carry out but you are just too busy to find time for it.
Your work wouldn't allow you to have time for other things and even for family. I understand you dear.
But the truth is what you lack is management.
There are more than a thousand reasons not to do a thing but there are few reasons to do it, which makes it easier to say I am busy.
You claim you are busy, but you have the Time to use social media, you have the time to update your status and also browse the internet right??
Who are you deceiving bro?
Do you know that this is the reason why many never achieved their dreams..
Not because there is no enough time to do it but because they would always find an excuse to deceive themselves and shy away from their responsibility.
Okay..
I know you have something to say and can even be a better worder in paraphrasing and making your excuses legal.
"Why have you not started your business?"
Uum!! You should understand now! Hustling between having a tedious job and running a side business is not easy at all.
And to be precise I am very occupied presently and my work will not allow me to juggle a side business.
Silence....
Yeah those excuses are polite and reasonable but the truth is that you didn't mean everything above. The thing is your brain is now to lazy to ask "How can I achieve this?" .
Your brain finds it more easier to give an excuse rather than a useful solution.
I repeat again, excuses has killed so many dreams than you can think of.
I am writing this post to at least let you know how dangerous the path of giving excuses is and how you overcome this attitude.
I am not saying there are no genuine excuses, but try not to even give an excuse where it warrants it.
This will somehow build your profile as a trustworthy and good to work with person
So in this place, I Will be charging you with tips for avoiding excuses.
Yes this is very important for you to avoid giving you the excuses. Plan your day so that none of the daily tasks escape your mind as you juggle through the day.
Sometimes it isn't that we are not interested in carrying out that task or rendering that help. It is just it keeps escaping our mind and we try and makeup excuses for our negligence and forgetfulness.
So in order to this, it is better you start your day with a plan .
Do not shy a away from any task by not working without a plan.
So before starting your day, let your first task be to plan the day and not the tasks that are needed to be done that day...
To make the best of your plan, read the next tip...
This is an important part of planning your day.
You would always be tempted to do the easy tasks first before the difficult tasks in order to fill you have achieved something at least that day.
But that doesn't work that way.
First do the difficult tasks and let your new and fresh energy be directed to the difficult tasks. Then once you have done that, you will have more happiness to carry out other tasks.
Multi tasking is a great skill to achieve more in lesser time. It has even be regarded as a plus for some jobs vacanies.
But the truth is does multi tasking really work?
Our levels of coping with more tasks without getting overwhelmed varies. But most times, multitasking only brings disadvantage to you.
Do not try to multitask at all. Just do the task one after another.
Little by little you will make an impact.
This is another important thing for you to do. Make that decision not to give any excuse. It sounds simple just like any other confession you would do and never stick to.
But it does work.
It has worked for many including me and it is still working for others.
You can be among the others if you decide to not give any excuse again.
As you get comfortable with your daily task, you will see how drastically your productivity will increase.
At this time, you need to ensure you don't become too comfortable with your daily tasks that you can't stick in anything into your schedule.
Learn to make things work even when you have a stick schedule.
So this is where I'm going to.
Even when you have finished your assigned task at work or at home, ask for more.
Then by so doing you become comfortable with emergency works.
You need to make this your lifestyle and not just what you do when you are at work. Make it what you do wherever you are.
If it just what you do when you are at work, you will eventually get tired of doing it.
But when it becomes your lifestyle, you will enjoy the act of being that perfect person in making impossible possible.
Wait a minute, what will happen if you stop giving excuses?
Benefits of Not giving Excuses
This is a benefit of not giving excuses. You will be able to achieve more with the same time you have. The same time that you have always said is not enough will now become independent of what you can achieve.
This is a great attribute of giving no excuse. Your bosses and your clients will begin to trust you because they no you don't give excuses.
You can be able to grow your business by building a credible image for yourself.
Not giving excuse is one of the important attributes of successful people. They don't give excuse for anything. Even when it seems impossible, they see it as an opportunity to display their intelligence.
They do not allow the world control them neither is time a master over them. They master time and control what they want to do.
Don't quote me wrong,they don't control the results of their actions... But they control their actions to a high degree because of their inability to give excuse (coded).
How was the read?
Kindly drop a comment and follow me on Twitter @guruscoach
Ohhh!
You have an assignment to carry out but you are just too busy to find time for it.
Your work wouldn't allow you to have time for other things and even for family. I understand you dear.
But the truth is what you lack is management.
There are more than a thousand reasons not to do a thing but there are few reasons to do it, which makes it easier to say I am busy.
You claim you are busy, but you have the Time to use social media, you have the time to update your status and also browse the internet right??
Who are you deceiving bro?
Do you know that this is the reason why many never achieved their dreams..
Not because there is no enough time to do it but because they would always find an excuse to deceive themselves and shy away from their responsibility.
Okay..
I know you have something to say and can even be a better worder in paraphrasing and making your excuses legal.
"Why have you not started your business?"
Uum!! You should understand now! Hustling between having a tedious job and running a side business is not easy at all.
And to be precise I am very occupied presently and my work will not allow me to juggle a side business.
Silence....
Yeah those excuses are polite and reasonable but the truth is that you didn't mean everything above. The thing is your brain is now to lazy to ask "How can I achieve this?" .
Your brain finds it more easier to give an excuse rather than a useful solution.
I repeat again, excuses has killed so many dreams than you can think of.
I am writing this post to at least let you know how dangerous the path of giving excuses is and how you overcome this attitude.
I am not saying there are no genuine excuses, but try not to even give an excuse where it warrants it.
This will somehow build your profile as a trustworthy and good to work with person
So in this place, I Will be charging you with tips for avoiding excuses.
1. Plan Your Day
Yes this is very important for you to avoid giving you the excuses. Plan your day so that none of the daily tasks escape your mind as you juggle through the day.
Sometimes it isn't that we are not interested in carrying out that task or rendering that help. It is just it keeps escaping our mind and we try and makeup excuses for our negligence and forgetfulness.
So in order to this, it is better you start your day with a plan .
Do not shy a away from any task by not working without a plan.
So before starting your day, let your first task be to plan the day and not the tasks that are needed to be done that day...
To make the best of your plan, read the next tip...
2. Do the Difficult Tasks First
This is an important part of planning your day.
You would always be tempted to do the easy tasks first before the difficult tasks in order to fill you have achieved something at least that day.
But that doesn't work that way.
First do the difficult tasks and let your new and fresh energy be directed to the difficult tasks. Then once you have done that, you will have more happiness to carry out other tasks.
3. Do Not Try to Multi Task
Multi tasking is a great skill to achieve more in lesser time. It has even be regarded as a plus for some jobs vacanies.
But the truth is does multi tasking really work?
Our levels of coping with more tasks without getting overwhelmed varies. But most times, multitasking only brings disadvantage to you.
Do not try to multitask at all. Just do the task one after another.
Little by little you will make an impact.
4. Make the decision not to give excuse
This is another important thing for you to do. Make that decision not to give any excuse. It sounds simple just like any other confession you would do and never stick to.
But it does work.
It has worked for many including me and it is still working for others.
You can be among the others if you decide to not give any excuse again.
5. Do More
As you get comfortable with your daily task, you will see how drastically your productivity will increase.
At this time, you need to ensure you don't become too comfortable with your daily tasks that you can't stick in anything into your schedule.
Learn to make things work even when you have a stick schedule.
So this is where I'm going to.
Even when you have finished your assigned task at work or at home, ask for more.
Then by so doing you become comfortable with emergency works.
6. Make it a lifestyle
It awesome to not give excuse today but great it is when it becomes your lifestyle.You need to make this your lifestyle and not just what you do when you are at work. Make it what you do wherever you are.
If it just what you do when you are at work, you will eventually get tired of doing it.
But when it becomes your lifestyle, you will enjoy the act of being that perfect person in making impossible possible.
Wait a minute, what will happen if you stop giving excuses?
Benefits of Not giving Excuses
1. You Will Achieve More
This is a benefit of not giving excuses. You will be able to achieve more with the same time you have. The same time that you have always said is not enough will now become independent of what you can achieve.
2. You Will be Trusted
This is a great attribute of giving no excuse. Your bosses and your clients will begin to trust you because they no you don't give excuses.
You can be able to grow your business by building a credible image for yourself.
Conclusion
Not giving excuse is one of the important attributes of successful people. They don't give excuse for anything. Even when it seems impossible, they see it as an opportunity to display their intelligence.
They do not allow the world control them neither is time a master over them. They master time and control what they want to do.
Don't quote me wrong,they don't control the results of their actions... But they control their actions to a high degree because of their inability to give excuse (coded).
How was the read?
Kindly drop a comment and follow me on Twitter @guruscoach
Writing a final year project has not always been easy. This is why I have compiled the best guide on how to write a finaly year project in 2020
Just kidding. I know it's not only final year students wrote project. Even companies write a project report and small business owners write project report.
Government officials are not excluded from project writing too. The only thing is that there is a difference in the way you write each of these project depending on what for?
So in this post, I am laying emphasis on how to write academic project for students. So students in the house, this announcement is for you.
I will be giving you the details on how to do your project and Ace it.
I think I am in the best position to teach you how to do your project, because I have been into the business of writing projects for a long time. I do write, siwes report, projects writing, blog posts, copywriting, eBooks, etc
And 90% of students I have written for always get an A. Practically all of them do have an A. But I can't promise you an A because of that. This is not to boast of my writing skill but to let you know that I would be sharing with you secrets that has helped me write an A project for my students.
Hand selected similar posts
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How to Write a Siwes Report
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(P.S. if you need help with writing your project, DM me on Whatsapp 08167102973 . Or you can send a friendly email to me eniolaakinduyo@gmail.com ).
So follow my step by step guide on writing a good project.
1. Brainstorm a Project Topic
The first thing before even writing the project is to come up with a project topic that is inline with your course of study.
Choosing a project topic is not just about picking any topic you enjoy discussing, it also includes selecting a topic inline with your coursed of study.
If you already have a project topic then you can move on to the next step. But if you still haven't gotten a project topic then continue reading.
To get a project topic, you can go through the previous project that have been done by your seniors. You can just ask any of your seniors what project topic they did.
And if you seem not to be able to get a project topic from your senior or maybe your supervisor is not satisfied with the topic you have chosen, then you can do a thorough search online for the project topics in your course of study.
Let me assume you are studying microbiology, if you want to make a search online; use this search keyword : Project Topic for Microbiology GurusCoach
And if you are studying computer science, then Google search : Project Topic for Computer Science GurusCoach
That is it. Or you can also do something like "Project Topics for Microbiology PDF".
Not just this, there are many other search terms you can search on the internet.
2. Download Journals on Your Chosen Topic
Now I want to believe you already have a project topic that has already been approved by your project supervisor.
The next step you need to take is yo download journals on your chosen project topic. Go through research site and PDF site and look for journals related to your topic.
You don't have to download only journals on the project topic, look for journals on related topic.
There just has to be a way the topics correlate together.
If you are looking for exact journals on your topic, then you might search till eternity before you find up to 5 journals and this wouldn't do you much good.
You need to spread your net and look at other research and written journals that have some kind of relationship to your project.
Take this for an example, let assume you are writing on the effect of Dyslexia on Students Performance.
You should not only search for journals on dyslexia, also look for journals on Autism.
Did you get what I'm trying to say?
If you are even done with that, you might even want to look at study on other related disorder like down syndrome.
Through broad research, you can be sure you fully understand your topic and can work on what others have done.
How to do this is to search : [Project Topic ] PDF
An example is - Effect of Dyslexia on Students Performance PDF
3. Read the Journals
Wait a minute!!
Is this what you have to say Eniola?
No... take it easy. This things I'm saying can sound very simple to you that everyone should know.
But it's more important than the actual writing.
You need to seat down and go through all the journals you can lay your hands on. Go through them thoroughly the first time to understand what your topic is truly about.
Not fully understanding your project topic, will set you up for a B or less.
Why did I say so?
You would only be writing about what you don't really understand. Writing about what you don't understand will mean there would mean your personal voice will not be heard in the write up because all of the words were never yours.
Did you get that?
Okay so after going through the journals, then make your jottings and asteric those part you think would make a good reference in your project.
And if you are using a phone or laptop to browse through your journals, then you can give a different background color to those texts that you think might be a great reference in your project.
4. Write Your Introduction
Yes this is the part you want to hear about write? This is the chapter 1 of your project and matters a lot either anyone will be willing to read your project. If the introduction is not written very well, then your readers might not be interested in reading further to even hear out your own opinion.
So think of this as the foundation of your project. Plan your introduction very well before the actual writing.
Your introduction has to be what it is called, an Introduction. It has to introduce the topic to the readers and the importance of the project.
In the introduction, you also have the task of letting your readers know the aims and objectives of the project. Are you just carrying out a project with no map of what you want to ascertain or find out?
No I’m sure you have an aim and objective.
Not adding aim and objectives to your introduction could actually drop your mark if it even escapes your supervisor to tell you to correct it.
For an example, you are writing on the effects of depression on university students, your first paragraph in your introduction can be like:
“Depression has been regarded as one of the most prevalent psychological disorders in the world. And this is not just in words; its prevalence is seen more among college students.
Depression has always been a problem among students of tertiary institutions. All over the media there are never ending news and discussions of how rampant depression is among students.
While this has not been much of an issue years back, the illness has now so much become something we can refer as a global illness without interference with climate or country of victims.”
Can you see that?
But the question you might be asking is that how many pages should your introduction range from. If you are given a guideline for project writing in your school, then the number of pages per each chapter will be stated.
But if you are not given, make sure your introduction is between 5 – 10 pages.
(P.S. if you need help with writing your project, DM me on Whatsapp 08167102973 . Or you can send a friendly email to me eniolaakinduyo@gmail.com ).
Subtopics in the Introduction
While you might not be too familiar with the fact that the introduction has subsections which can help you to be more productive when writing your introduction.
So I will run through the important subsections that your introduction must have in order to make its easy to understand and navigate through when reading.
• Background
Many people use the word introduction and background interchangeably. Though there are a lot of similarities between the two, there is still a line that differentiates them.The background is what we might refer to as the basics of that research. What can you say about that research that can be understood by a lay man?
• Objectives
The objective is what you are set out to achieve through the research / project assigned to you.
So you should be careful not mix things up in the course of writing. Your objective is just like you summarizing all what you want to achieve in the course of the research in two to three lines.
• Statement of Problem
What are the problems that you see relate to the research you are carrying out? The statement of problem is the description of an issue currently existing which needs to be addressed. It provides the researcher a context and a view to look at the research topic from.
• Research Questions
A research question is a question that a research project sets out to answer. Choosing a research question is an essential element of both quantitative and qualitative research.
In order to write an outstanding research question, you need to carry out some literature research in order to get an idea of the research questions you want to set out to answer.
You shouldn’t just guess it out and end up justifying your questions. The questions has to be reasonable and worth answering in respect to the context of the research.
• Statement of Hypothesis
Statement of hypothesis is where you write what you believe would be the answers to your research questions. This is where you make a reasonable guess of the likelihood or the result of your research.
A hypothesis can also be defined as a tentative statement about the relationship between two or more variables. It is a specific, testable prediction about what you expect to happen in your research.
5. Literature Review – chapter two
A literature review is a survey of everything that has been written about a particular topic, theory, or research question.
It may provide the background for larger work, or it may stand on its own. Much more than a simple list of sources, an effective literature review analyzes and synthesizes information about key themes or issues
Literature review is the aspect where you cover areas that has been covered through research in the past years.
It is like you asking the question : what has been said concerning this topic before?
The literature review help you know what others have said about this topic in order to guide you not to make mistakes that has been detected in the previous researches.
(P.S. if you need help with writing your project, DM me on Whatsapp 08167102973 . Or you can send a friendly email to me eniolaakinduyo@gmail.com ).
Why write a literature review?
1. To discover what has been written about a topic already
2. To determine what each source contributes to the topic
3. To understand the relationship between the various contributions, identify and (if possible) resolve contradictions, and determine gaps or unanswered questions
What is involved in writing a literature review?
1. Research – to discover what has been written about the topic
2. Critical Appraisal – to evaluate the literature, determine the relationship between the sources and ascertain what has been done already and what still needs to be done
3. Writing – to explain what you have found
Below is a snippet taken from a literature review
“Singh, R. & Joshi, H. (2008) explored the association between suicidal ideation, depression, life stress and personality, and to find out linear combination of different predictors of suicidal ideation. Results demonstrated that suicidal ideation was positively associated with depression, stressful life events and two dimensions of personality i.e. extraversion and psychoticism.”
6. Methodology
Methodology is where you discuss the method in which the project was carried out, the equipment used, and how it was carried out.
This is simple to understand since it deals with what steps you took to attain your result. The methodology is very important because without the methodology, you cannot be certain the researcher carried out the experiment in the right way.
The methodology will help you know if you can trust the results discovered by the researcher.
Most times to carry out an experiment, there is more than one method of achieving your result. So putting this in mind, it is paramount you explain to your reader the method your optimized in order to come to your conclusion.
Explain the method to your readers systematically and also list the limitation using this method in your introduction.
7. Result and Discussion
This is where you explain the result of the experiment. The results of the experiment could be statistical, so there is a need for you to explain those figures to your readers and have a discussion around the result.
This section is also the section where you have a discussion in relation to other works carried out previously by other researchers.
8. Conclusion - Chapte 5
This is the last section of your final year project write up apart from the references section. In the conclusion section, you write a summary of all you have said so far from the introduction to the result and discussions. This section is where you make known what your conclusion was at the chapter 4 ( results and discussions).
Take Away
Writing a final year project has not always been easy but you need to put in your effort to make the best out of your topic. Remember this is your final year and its requires more effort in order not to have your project keep you in the school premises for long while others are already serving.
Well before you go, please click on the share button and then send me a whatsapp message to find out how I can be of help to you.
Do you need help with writing your Project, then send me a whatsapp message to 08167102973, or email me at eniolaakinduyo@gmail.com
