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How Femi got a Loan on TopCheck?

Femi, 29 years old and living in Lagos, visited TopCheck's website in March 2016
We often get asked how the process of getting a Loan via TopCheck.com.ng actually looks like. Questions like:
  • "What is different compared to going to a traditional bank?"
  • "How long does the process take until I have the money in my hands?"
  • "Is it free to apply?"
Let us answer your questions based on a real-life case, from one of our clients who recently received a ₦350,000 personal loan.

This is Femi from Lagos

Femi, 29 years old and living in Lagos, visited TopCheck's website in March 2016. Femi recently became a father of a baby girl and needed some additional cash for the extra expenses incurred, related to the birth of his child. He needed the extra cash to pay hospital bills, buy apparel for this daughter, and to adjust his home to suit the new family member.

1 Inserting Personal Information

In order to find a Loan, Femi searched the internet and directly saw that he is able to compare personal loans online for free at TopCheck.com.ng. He clicked on the Personal Loan tab and used TopCheck's Loan calculator. He entered personal information about himself, so that the TopCheck search algorithm can show Femi the Loans that are applicable for him. The information included loan purpose, loan amount, email address, his living and working city, monthly net salary, occupation, time at current job, continuous employment time and date of birth. Femi saw that the connection was secured with highest safety standards ("https"), so he knew his information was safe.

2 Compare Loan Products available

After filling in these details, he clicked on "See results". He got results, showing loan offers from loan providers covering his location, pocket friendly interest rates, and tenor - all tailored to the information he provided. Hew saw loan offers from:

He clicked on the most suitable loan for him and left his contact details.

3 Free Call-Back from TopCheck

On the next day Femi got a call from one of TopCheck's customer sales agents who put him through on the loan process and inform him about what documents to get, so he can get his loan approved. After he confirmed on the phone that he can organize all documents, TopCheck forwarded the loan request to the respective loan provider.

4 Call back from Loan Company

The Loan provider called Femi the next day and told him in detail about the interest rates, loan terms and conditions, and how to hand-in the documents. Femi made sure to get the necessary documents together and handed them over to the loan provider, who picked them up at Femi's office location. After all verifications and checks were done by the loan provider, Femi's loan application was approved.

5 Disbursement of Loan

Femi got a call, notifying him of his loan approval and when he will get his loan transferred to his account. He has since gotten his loan and has been making his monthly repayments. Femi got the Loan within a couple of days and never had to visit any office.

By using TopCheck.com.ng, Femi was able to save time, effort and money. He was able to cut through the red tape surrounding loan applications with traditional financial institutions and was also able to get his loan approved faster than normal.

Example Loan: ₦500,000 Loan amount, 1-12 months duration, 2.83% monthly interest rate, 37.61% max APR, ₦688,050 total value, ₦57,338 max monthly repayment, RenMoney MfB

Sounds interesting?