There are several reasons why your loan application gets denied. First, before you apply for a loan, please ensure you have submitted only accurate and valid details. When a loan application is declined or unsuccessful, it could be for a myriad of reasons. Also, in attending to loan decline issues, we have realized that in some cases, especially those where wrong/invalid details are submitted, your application decline can be avoided.

Here are some of the reasons why a NodCredit loan application is declined, and what to do in those cases:

1. Providing insufficient information
Sometimes, your loan applications get declined because the platform could not gather enough information about you. This could be because:
• You are not accessing the app with your main phone.
• You did not grant app permissions to SMS, Contacts, etc., upon registration.
If this is the case, it means that the system will be unable to get enough information to verify against the details you provided in your app during your loan registration process, hence a decline is possible.


2. Inconsistent Bank Verification Number Info
When registering on the NodCredit platform, it is expected that your details are consistent with what you have in your BVN data. This is because the BVN is a method of user identification for the NodCredit platform, hence irregular details will be flagged. Following your loan application being denied, you will receive a notification that says the number registered on your NodCredit account is different from your BVN phone number. This means that at some point you may have changed numbers. This will make accessing a loan impossible because all your details must be consistent with your BVN data.

3. Unverifiable ID
During the loan application process, you are required to submit a valid, government-issued ID. The IDs accepted on the NodCredit platform include Permanent Voter’s Card (PVC), International Passport, Driver’s License, National Identity Card/NIMC Slip.
If your ID could not be verified or that details, in most cases your date of birth or name placement, is mismatched, it means that your details registered in your NodCredit app are different from your ID details.


4. Late/Bad Repayment Records
When you are able to access a NodCredit loan, it means that we have held up our end of the loan agreement. However, when you do not repay your loan on your due date, it means you have breached the loan agreement. Late loan repayments can affect your eligibility to access more loans. If you have made a series of late repayments, you may not be qualified to access a loan from NodCredit.

If you have any questions or complaints, send us a mail support@nodcredit.com

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