Branch is an online loan app that offers easy and fast loan offers, which can be transferred to your bank account within minutes. Compared to other loan companies, Branch is known for having more relaxed requirements, making it easier for people to get a loan without collateral or a credit history.
Here are the essential Branch loan requirements:
- The Branch App: To apply for a loan from Branch, you need to download their mobile app, which is available for both iPhone and Android users.
- Your Full Name: You must provide your full name, including First Name, Last Name, and Middle Name. Ensure that the name you provide matches the details on your bank account.
- Email Address & Phone Number: Branch requires you to sign up with your phone number, and they will send a verification shortcode to ensure your number is valid. They also analyze your phone data to assess your loan eligibility.
- Bank Verification Number (BVN): Your BVN is essential for loan approval on Branch, as it helps verify your identity and financial history.
- Bank Details: You need to provide your bank account details, including your account name and account number. After loan approval, this information is used for fund disbursement.
- Automated Teller Machine (ATM) Card: You must have an ATM card, and you’ll need to provide its number during the loan application process. Branch uses this card to repay your loan on the due date.
- Face Verification: To ensure security and prevent fraud, Branch requires you to take a selfie during the registration process.
To qualify for a loan on Branch, make sure you have the following:
- Downloaded the Branch app on your smartphone.
- Provided accurate personal information, including your name, phone number, and email.
- Have a valid Bank Verification Number (BVN).
- Provided correct bank details, including account name and number.
- Possess an ATM card for loan repayment.
- Completed the face verification process.
By meeting these requirements, you increase your chances of qualifying for a loan on the Branch app. Remember that even though the requirements are not as strict as some other loan apps, it’s essential to provide accurate information to ensure a smooth loan application process.