C24 Loan  – A Comprehensive Lender Review

C24 Loan

C24 is a financial institution in Nigeria, primarily operating in Lagos, offering personal loan services. Known for its high maximum loan limit of up to ₦5,000,000 and a commitment to quick disbursement, C24 caters to a specific segment of the market with its tailored loan products.

C24 Loan Review - Summary

C24 Loan Review - Summary

  • Loan amount: Up to ₦5,000,000
  • Loan term: Up to 12 months
  • Monthly Interest rate: n/a
  • Origination Fee: n/a
  • Monthly Fee: n/a

Requirements to get a loan:

  • Resides and Works in Lagos
  • At Least Six Months Employed
  • Good Credit Score
  • Valid ID
  • Utility Bill
  • High Maximum Loan Amount
  • Fast Loan Disbursement
  • Rigorous Loan Application Process
  • Limited Geographic Reach
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Loan Accessibility and Requirements

C24’s loans are exclusively available to residents and workers in Lagos. Applicants are required to have been employed for at least six months and must possess a good credit score. The application process necessitates a verifiable monthly income, pension account, employment letter, pension statement, bank statement, staff ID, valid ID, and a utility bill.

Interest Rates and Fees

Specific interest rates for C24 loans are not publicly disclosed. However, there is a management fee involved, the exact figure of which is not specified on their website. Additionally, a 1% default penalty is applied for late repayments.

Pros of C24’s Lending Services

  • High Maximum Loan Limit: With loans up to ₦5,000,000, C24 addresses significant financial needs.
  • Mobile Application: The availability of a mobile app simplifies the loan application process.
  • Fast Disbursement Time: C24 is known for its quick processing and disbursement of loans.

Cons of C24’s Lending Services

  • Rigorous Loan Application Process: The extensive documentation and eligibility criteria can be daunting for some applicants.
  • Limited Geographic Reach: Services are restricted to Lagos, limiting accessibility for potential borrowers outside this region.

Customer Sentiments

Based on Google reviews, C24 has received varied feedback from its customers. While some appreciate the fast disbursement and high loan limits, others find the application process cumbersome.

C24 Google Review

C24’s Response to Feedback

C24’s engagement with customer feedback, especially on platforms like Google reviews, is indicative of their customer service approach. However, the effectiveness of their responses in resolving customer issues varies.

Security and Privacy

C24, like other financial institutions, is expected to adhere to standard security and privacy protocols to protect customer data. However, detailed information about their specific practices in this regard is not readily available.

Our Opinion

C24 offers a robust personal loan service, particularly appealing to those in need of substantial loan amounts and quick disbursement. The rigorous application process and geographic limitation to Lagos are factors to consider for potential borrowers.

Wrap Up

C24’s personal loan service stands out for its high loan limits and fast processing times. However, the service’s reach is limited to Lagos, and the detailed application requirements may pose a challenge for some. Prospective borrowers should weigh these factors against their personal needs and circumstances before proceeding with an application.

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