Everything About Branch Loan App, Contact Customer Care, Interest Rate, Eligibility

May 3, 2023 Samuel Financial Loans 0

Are you in need of quick cash to cover unexpected expenses or invest in a business idea? If so, you might want to consider using a branch loan app.

About Branch Loan App

A branch loan app is a mobile application that enables users to access loans from financial institutions, microfinance banks, or other lenders. With the app, you can apply for loans, check your eligibility, and receive funds directly to your bank account.

Branch makes it easy for people in Nigeria to transfer money, get instant loans up to ₦500,000, and enjoy investments yields of up to 12% and 17% per annum on Flexi and Fixed investments respectively.

 

The purpose of this outline is to provide you with a comprehensive guide on the features, benefits, eligibility criteria, and application process of the branch loan app.

 

Features of Branch Loan App:

The branch loan app comes with several features that make it easy and convenient for users to apply for and receive loans. Some of these features include:

  1. User-friendly interface: The app is designed to be easy to navigate, even for users with limited technological knowledge.
  2. Loan calculator: The loan calculator feature allows you to calculate the amount of interest you’ll pay on your loan based on the amount you borrow and the repayment period.
  3. Credit score monitoring: The app allows you to monitor your credit score and improve it by making timely loan repayments.
  4. Fast loan disbursement: Once your loan is approved, the funds are disbursed directly to your bank account within minutes.

Benefits of Using Branch Loan App:

Using the branch loan app comes with several benefits, including:

  1. Convenience: With the app, you can apply for a loan from the comfort of your home or office, without the need to visit a physical branch.
  2. Fast loan approval: The app allows for quick loan approval, with some loans approved within minutes of application.
  3. Lower interest rates: Lenders on the app may offer lower interest rates compared to traditional loan providers.
  4. Access to financial education: The app provides financial education resources to help users improve their financial literacy.

Eligibility

Criteria for Using Branch Loan App:

To use the branch loan app, you need to meet the following eligibility criteria:

  1. Be 18 years or older
  2. Have a valid government-issued ID
  3. Have a bank account
  4. Have a stable source of income

If you meet these requirements, you can download the app and start applying for loans immediately.

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How to Apply for a Loan Using the Branch Loan App:

If you’re interested in applying for a loan using the branch loan app, follow these simple steps:

  1. Download the app: First, download the branch loan app from the App Store or Google Play Store.
  2. Register: Once you’ve downloaded the app, register using your phone number, email address, and create a password.
  3. Complete your profile: Provide your personal information, such as your name, address, and employment details, to complete your profile.
  4. Apply for a loan: After completing your profile, apply for a loan by selecting the loan amount and repayment period.
  5. Submit required documents: Upload the required documents, such as your ID, bank statement, and payslip, to verify your identity and income.
  6. Wait for loan approval: Wait for your loan application to be reviewed and approved.
  7. Receive funds: Once your loan is approved, the funds will be disbursed directly to your bank account within minutes.

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Repayment of Loans:

Loan repayment on the branch loan app is easy and convenient. You can choose from various repayment options, including:

  1. Direct debit: The app allows you to set up direct debit payments, where loan repayments are automatically deducted from your bank account on the due date.
  2. Mobile money: You can also use mobile money to make loan repayments using the app.
  3. Bank transfer: You can make loan repayments by transferring funds from your bank account to the lender’s account.

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Security and Privacy on Branch Loan App:

The branch loan app takes security and privacy seriously. The app uses advanced encryption technology to ensure the safety of users’ information and transactions. The app also complies with data protection laws and regulations to protect users’ privacy.

Branch Head Office

Branch has offices in Nairobi, Kenya; Lagos, Nigeria; Mumbai, India; and San Francisco, United States. At the moment, Branch operates in India, Kenya, Tanzania, and Nigeria.

Customer Support:

The branch loan app offers customer support services to help users with any issues they may encounter. Users can contact the support team via email, phone, or live chat on the app. The app also has an FAQ section that provides answers to commonly asked questions.

You can follow this link and click Update. Or you can go to Google Play, search for “Branch International” then click “Update”.

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Conclusion:

In summary, the branch loan app provides a convenient and easy way for users to access loans. The app offers several features that make loan application and repayment simple and stress-free. By using the app, users can enjoy lower interest rates, faster loan approval, and better financial management. If you meet the eligibility criteria, download the app and start your loan application process today.

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FAQ

Branch Wallet lets you perform reliable transfers to other banks, pay bills such as Electricity and Cable TV, and buy Airtime & Data via the Branch app with no extra charges. You can fund your Branch Wallet with a Branch loan, bank transfer, or debit card.
You can fund your Branch wallet with a Branch loan, debit card, or bank transfer.
You can fund your wallet by making a bank transfer from your mobile banking app to the personalized bank name and account number provided in the app.

To fund your Wallet with a bank transfer:

• Tap “Add funds” in the Wallet section of the app

• Choose the “Fund from Own Account” option in the “Select Funding Method” menu and tap “Continue”

• Select ‘Bank Transfer’ and tap ‘Confirm Funding’

• A unique Wema or Sterling bank account number will be provided in the app

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• The payment made will reflect in your Branch wallet once the payment is successful.

To fund your Wallet a debit card:

• Tap “Add funds” in the Wallet section of the app

• Choose the “Fund from Own Account” option in the “Select Funding Method” menu and tap “Continue”

• Select ‘Debit Card’, then tap ‘Continue’ to choose the debit card you want to use to fund your Wallet

• Continue your transaction by entering the amount, then tap ‘Confirm Funding’ to complete the transaction

• The payment made will reflect in your Branch Wallet once the payment is successful.

Currently, the maximum balance you can have in your Branch Wallet is N500,000, and the highest amount you can deposit and withdraw from your Branch Wallet is N100,000 per transaction. Please note that this does not affect your Wallet to Investment transactions
To make a bank transfer to your bank account from your Branch wallet using the app:

• Tap ‘Free Transfer’ or ‘Funds Transfer’ in the Wallet section of the app

• Tap ‘Select Destination’ and select ‘My Own Account’

• Select a bank account registered on your Branch account and then tap ‘Continue’

• Enter the amount you want to transfer

• Confirm your details and tap ‘Confirm Withdraw’ at the bottom of the page to complete the transfer

Please note that you will be able to view the new balance in your Branch Wallet after you complete the transaction.

To make a transfer to another account from your Branch Wallet using the app:

• Tap ‘Free Transfer’ or ‘Funds Transfer’ in the Wallet section of the app

• Tap ‘Select Destination’ and select “Another Account”

• Select the Bank and enter the Account Number you want to make a transfer to

• Enter the amount you want to transfer

• Confirm the details and tap ‘Confirm Transfer’ at the bottom of the page to complete the transfer

Please note that you will be able to view the new balance in your Branch Wallet after you complete the transaction.

You would be unable to earn interest on your wallet balance as the Branch Wallet product currently can only be used to perform transfers, pay bills, purchase airtime & data, and receive loans. However, you can earn interest with the Branch investment product which allows you to deposit as low as ₦1,000 for investment, make withdrawals at any time and earn up to 12% and 17% interest per annum respectively on your Flexi and Fixed investment accounts.
This is the Branch account number that works like your regular bank account numbers. You can use the account number to fund your wallet and receive money from any bank. To view the number, click “Account Info” in the wallet section of the app
• You can choose between our Flexi and Fixed investment products.

• With our Flexi Investment, you can deposit any amount and make withdrawals at any time after 24 hours.

• With our Fixed investment, you can deposit at least ₦1,000 for 1- 12 months and get your investment amount plus returns paid to your Flexi balance at maturity. You can also create multiple Fixed investments and select different maturity dates for each of them.

• Interest on our Flexi Investment is 12% per annum which is calculated daily and paid weekly on Mondays. Your weekly interest earnings are added to your Flexi investment account and you can withdraw the funds at any time into your Branch wallet.

• Interest on our Fixed Investment is 17% per annum and is paid out to your Flexi balance once your Fixed investment matures.

• All investments with Branch will be subject to applicable taxes.

• Branch is a socially responsible company and does not invest in high risk financial instruments that are volatile and unstable. Investments through the Branch app are in low risk securities with capital preservation as the ultimate goal.

• We are licensed by the Central Bank of Nigeria to provide fund management services, we take the appropriate steps to ensure that your funds are safe and we are able to return them to you when you need them. We encourage you to also seek professional advice before investing your funds

• Technology: Current banks have high costs while Branch is fully virtual. Branch also employs the latest technology including artificial intelligence to operate at lower cost and we pass these savings onto customers.

• Long term investors: Branch is backed by visionary global investors, ranging from Andreessen Horowitz (who backed Facebook, Twitter and other global platforms early on) to Visa (who understands how to build a global trusted financial service). These investors see an immense opportunity to improve financial services for the average Nigerian (less fees, more convenient, better value, etc). This conviction enables Branch to build long term relationships by giving customers better value upfront and overtime compared to their bank.

• The minimum term for our Flexi investment is 24 hours. After 24 hours, you can withdraw your investment and funds will be credited into your wallet instantly.

• The minimum term for our Fixed investment is 30 days. Once your investment matures, it will be paid out to your Flexi balance. You cannot withdraw from your Fixed investment until after it has matured.

We are licensed by the CBN to provide fund management services, therefore we are able to manage the funds placed with us by ourselves. We also work with licensed fund managers who invest the funds on our behalf in approved investment opportunities.
Once your Branch wallet is funded, tap the ‘Invest’ option, select ‘Make an Investment’, enter the amount you want to invest, complete your investment and you start to earn from your investment on Branch.
We’re sorry but you are unable to access the Branch app with this device. This is because Branch is currently only available for Android devices. Should we begin to offer our services through other platforms, we will let you know.
You can set up the auto-invest option for your Flexi investment;

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• Go to the Flexi investment section of the App, click on ‘View Flexi’, and click on ‘Set Up Auto Invest’.

• Click on ‘Continue to Set Up Auto Invest’ to enter an amount not less than N 100 to auto-invest.

• Select Auto Invest Frequency, click on the dropdown to choose between daily, weekly, or monthly when your account will be auto-debited.

• Select Auto Invest Account, click on the dropdown under ‘Select Funding Account’ to select the account to invest with between ‘Branch Wallet’ or ‘Debit Card’,

• Then click on ‘Continue’ to confirm your auto-invest details.

The amount you set up will be debited on the selected date and deposited into your Flexi Investment if the transaction is successful

You can get your debit card by clicking on the card request alert on your Branch Home screen or Branch wallet home screen and following the prompt
Any user on Branch can request for a Debit card
You can set a debit card pin while activating your card. You can also change your debit card pin from the Manage card section of your Branch Wallet
Savings account
Not at the moment, international transactions would be enabled in future
Card Transactions can be done on every bank ATM in Nigeria
Yes. Your card is linked to your Branch wallet, all transactions will impact your wallet
Yes, the delivery cost is a function of the delivery location. The delivery cost will be displayed to you while requesting your debit card.
At the moment, there are no charges incurred for owning a Branch Debit card
For this first release, you will be unable to but this might be enabled for future iterations
You can write to us for a Pin reset which we would do after providing some required information
There are currently no charges associated with using a branch debit card for transactions

Requirements are simple – all you need to apply is your phone number or Facebook account, bank verification number (BVN) and bank account number. We will also request access to the data on your phone in order to build your credit score. Note that we currently support the following banks: ALAT by Wema Bank, ASO Savings and Loans, Abbey Mortgage Bank, Access (Diamond) Bank, Access Bank, Bowen Microfinance Bank, Branch International Financial Services, CEMCS Microfinance Bank, Citibank Nigeria, Coronation Merchant Bank, Ecobank Bank, Ekondo Microfinance Bank, Enterprise Bank, Eyowo, FSDH Merchant Bank Limited, Fidelity Bank, First Bank of Nigeria (FBN), First City Monument Bank (FCMB), Globus Bank, Guaranty Trust Bank (GTB), Hackman Microfinance Bank, Hasal Microfinance Bank, Heritage, Ibile Microfinance Bank, Infinity MFB, Jaiz Bank, Keystone Bank, Kuda Bank, Lagos Building Investment Company Plc., Mainstreet Bank, Mayfair MFB, One Finance, PalmPay, Parallex Bank, Parkway – ReadyCash, Paycom, Petra Mircofinance Bank Plc, Polaris Bank, Providus Bank, Rand Merchant Bank, Rubies MFB, Sparkle Microfinance Bank, Stanbic IBTC Bank, Standard Chartered, Sterling Bank, Suntrust Bank, TAJ Bank, TCF MFB, Titan Bank, Union Bank, United Bank for Africa (UBA), Unity Bank, VFD Microfinance Bank Limited, Wema Bank, and Zenith Bank.
Unfortunately, at this time we do not offer our service through some banks. We aim to be able to do this in the future. If you have an alternative account with any of the banks that are listed in the app, we encourage you to select that bank and apply.
Branch uses data from your phone, including your handset details and SMS messages to automatically make lending decisions. We combine this with your Branch repayment history to build an individualised credit score, which determines the loan offers you receive.
If you don’t get accepted when you apply, don’t worry! Sometimes it may take several attempts to qualify for a loan. We encourage you to continue saving data on your phone and to reapply after the period stipulated.
We aim to process all loan within 24 hours. We hope to reduce it soon to just a few minutes.
Branch uses data from your phone as well as other sources to make a lending decision. To increase your chances of approval, please make sure to save the data on your phone, stay current with all other lenders, and correctly input your account details.
Once a phone has been used to access Branch, it cannot be used by anyone else. To access Branch, kindly use another phone that you own and that has not been used for a Branch loan before.

There are several ways to repay a Branch loan.

  1. In the Branch app with a debit card. Tap here for instructions.
  2. Via bank transfer to your unique account number. In the Branch app, select ‘Bank transfer’ as the repayment method to view your unique account number. Tap here for instructions.
  3. For GT Bank, Sterling, UBA and Zenith accounts only, in the Branch app via USSD. Tap here for instructions.
  4. With cash at a GT Bank branch. Tap here for instructions.

If you are having trouble with repayments please retry or contact us by using the chat feature in the app.

  1. From ‘My Loan’, tap the ‘Make a Payment’ button.
  2. Select the Amount you wish to repay.
  3. After you have made your selection, tap ‘Continue’.
  4. On the ‘Select Repayment Method’ screen, select ‘Debit Card’ from the drop-down menu.
  5. Add your Debit (ATM) card details:
    1. Card Number (16 or 19-digit in front of your card)
    2. Card Expiry Date (Month and Year in which your card expires)
    3. CVV (a 3-digit number at the back of your card)
  6. After you have filled in the details, tap ‘Continue’.
  7. Choose your auto-debit setting under ‘Payment Options’ and tap ‘Continue’. Tap here to learn more about auto-debit.
  8. To secure your payment, some banks will ask for your pin or send a security code to your phone.
  9. Your payment is done. If successful, your account will be updated automatically within a few seconds.
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Please note that no fees will be charged to you for this transaction.

  1. From ‘My Loan’, tap the ‘Make a Payment’ button.
  2. Select the amount you wish to repay.
  3. After you have made your selection, tap ‘Continue’.
  4. On the ‘Select Repayment Method’ screen, select ‘Bank transfer’ from the drop-down menu.
  5. Copy your personal account number.
  6. Open your mobile banking application. Initiate a bank transfer to Bank Name and the Account Number copied from the Branch app.
  7. Your payment is done. If successful, your account will be updated automatically within a few seconds.

Please note that your bank may charge you a transfer fee; however, there is no additional fee from Branch.

You must use the account number displayed in the Branch app in order to make a successful payment. Account numbers are unique to each individual customer and the transfer will only succeed if the account number matches your personal details in the Branch app.

You can repay your loan in cash at any GT Bank branch using GTCollections and you do not need a GT Bank account to make your payment. At the bank, make a payment with the following steps:

  1. Tell the teller you would like to pay ‘Branch International Financial Serv Ltd’ using GTCollections.
  2. Fill in your personal details on the deposit slip
  3. Find your “Reference ID” in the Branch app by tapping “Make a Payment”, selecting the amount you wish to pay, and selecting “Cash” from the “Repayment method” dropdown
  4. Add your “Reference ID” to the deposit slip

You can select any amount up to the total amount due on your loan. If accepted, your repayment will reflect on your Branch account immediately. A bank charge of ₦100 will apply.

  1. In order to repay your loan with USSD, you must have either a GTB, Sterling, UBA or Zenith bank account added to your Branch account. If you do not have one already added, simply go to the ‘My Account’ screen on your app, tap ‘Bank account’ and then tap ‘Add account’.
  2. From ‘My Loan’, tap the ‘Make a Payment’ button.
  3. Select or enter the amount you wish to repay, then tap ‘Continue’.
  4. On the ‘Select Repayment Method’ screen, select the USSD option and tap ‘Continue’.
  5. Confirm your repayment.
  6. You will see a screen with instructions to ‘Complete USSD Payment’. Tap the ‘Dial’ button to open your phone dialer.
  7. Press the call button in your dialler to dial your unique USSD code.
  8. Your payment is done. If successful, your account will be updated automatically within a few seconds.

Bank charges apply.

Auto-debit makes repaying your Branch loan easy! Tap the ‘Make a Payment’ button on the ‘My Loan’ screen in the Branch app to initiate a payment. Add a new debit card or use an existing card to make a payment, and ensure that auto-debit is turned on. When the payment succeeds, eligible cards will be debited automatically at each subsequent repayment date.
Branch supports most MasterCard, Visa, and Verve cards for auto-debit as long as there are sufficient funds in the account.
If you want to repay the loan in one payment, we advise that you do it on your first repayment date to make sure that you are not late on any of your loan repayments. Kindly note that you cannot skip your first three repayments and pay the whole loan on the last due date as this will negatively affect your future loan amounts.
To view your repayment information, tap on your loan balance on the Home screen or the “Loans” option at the bottom of the Home screen, then tap on “Repayment Schedule”. You will be able to see your installments, due dates and the amounts due on those dates.
Depending on the loan amount you select, a monthly repayment option may be available. Tap “Select Loan Terms” to choose between weekly or monthly payments prior to requesting the loan.
Repayments can take up to 24 hours to reflect. If it has been over 24 hours since you made your repayment and it hasn’t reflected, kindly send us the transaction confirmation message you received when you repaid your loan to our email address. We will follow up and update your account. If you made your repayment through the cash deposit option, kindly send the deposit slip and payment receipt that you used to make your repayment to [email protected] and title it as ‘LOAN REPAYMENT’. This will help us trace your repayment and update your account.
To increase your loan offer amount, we strongly encourage you to repay your loan according to your “Repayment Schedule”, which can be found by tapping the “Loans” option at the bottom of the Home screen.
If you overpay your loan, the overpayment is credited to your account and used as part or full repayment, depending on the amount, on your next loan.
The account did not have sufficient funds to cover the transaction amount at the time of the transaction. Kindly fund your account with sufficient funds and re-initiate the transaction by tapping ‘Make a Payment’. If you do have sufficient funds in your account, kindly ensure that the ATM card that you are using to repay your loan is not linked to more than one bank account type (for example, a savings account and a current account). If the card is linked to multiple account types, kindly transfer the funds to the other account and try the transaction again
About Samuel 637 Articles
Samuel is an SEO technician and Content developer with over 5 years of work experience. He is known for his love and passion for helping others achieve their financial goals and dreams. This lead to the birth of Finwealthonline. His love for many has to lead him to help thousands of students seeking financial loan advices, app reviews with the right information. Samuel being the CEO and founder of Finwealthonline will continue his good work on helping people with the right information that will lead to achieving their financial dreams and goals.
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