All You Need To Know About Renmoney
As a lending platform, Renmoney is the first thing that comes to mind when you hear the name Renmoney, which makes sense considering that this is the company's primary identity. In the past, Renmoney has specialized in providing financial assistance in the form of unsecured loans and credit facilities to those who were deemed unbankable by traditional financial institutions, i.e., those who did not meet the requirements set by banks for traditional loans.
Renmoney, as an investment platform, offers a variety of additional services, which you may not have been aware of. Then this article is exactly what you've been searching for.
- About Renmoney
- About RenMoney Investment
- How to Invest with Renmoney Investments
- What step do I take to get started with the investment process?
- What is the rate of interest charged on these plans?
- Conclusion
About Renmoney
Fintech enthusiasts who are highly motivated to solve the problem of financial inclusion in Nigeria and around the world have formed Renmoney, a non-profit organization. With the goal of closing the gap between financial institutions and the general public by making all financial services readily available to anyone who requires them, the company has set out to accomplish this. Renmoney achieves this by advancing its agenda through the use of a combination of technology, financial expertise, and creativity.
About RenMoney Investment
As previously stated, Renmoney is primarily known for providing personal loans to those who are in need of financial assistance. The organization's operations, on the other hand, are diverse, and it not only provides credit facilities, but it also serves as a platform for building and increasing personal wealth.
How to Invest with Renmoney Investments
With Renmoney, it is possible to make investments in two dimensions. To make an investment, you must use either the Savings Platform or the Deposits Platform.
- Savings: There are two approaches to saving money on this platform. You could either use the Save Easy or the Smart Goal plans to save money on your purchases. Save Easy allows you to save money at your own pace, with a minimum deposit of 500 Nigerian Naira (approximately). Because of the interest rate that has been added to the plan, your savings will grow over time. Smart Goal, on the other hand, is a savings strategy that is intended for a specific purpose. Set a savings goal and the savings calculator will tell you how much money you need to save in order to reach it, as well as how much interest you would earn if you saved that amount.
- Deposits: Placement of funds in a fixed-term account is the basis of the Deposits plan, which lasts for a specified period of time. During that time, it matures and appreciates in value in accordance with the interest rates associated with the deposit plan. For Renmoney's deposit plans, the annual rate of interest is five percent per annum.
What step do I take to get started with the investment process?
You must complete the following steps before you can begin the investment process:
For Savings
- Decide on a savings strategy (your target savings, and how long you want it to last for)
- Fill in the blanks with the necessary information.
- Begin putting money aside.
For Deposits
- Pick your deposit plan, including the amount and length of time you want to commit to your investment.
- Fill out all of the required fields.
- Make a fixed deposit with a financial institution.
What is the rate of interest charged on these plans?
The savings plans provide an annual return of up to ten percent on the amount of money you save in relation to your savings goal. Deposit on the other hand, earn interest at a rate of 5 percent.
Conclusion
If you're looking for a dependable and hassle-free investment opportunity, it might be time to take a closer look at Renmoney Investments.
