When you hear the name Renmoney, you instantly associate the brand with the lending platform; because that’s what Renmoney is primarily known for. Providing financial assistance in the form of unsecured loans and credit facilities to the unbankable; that is, individuals who do not meet the requirements set by banks for regular loans, has always been Renmoney’s forte.
But did you know that Renmoney offers more services, as an investment platform? If you did not, then this article is just right up your alley.
Here’s all you need to know about Renmoney Investment.
An Overview of Renmoney
Renmoney is an organisation of Fintech enthusiasts, highly motivated to solve the problem of financial inclusion in Nigeria and beyond. The company seeks to bridge the gap between financial facilities and the general public; making all financial services easily accessible to everyone who needs them. Renmoney does this using a combination of technology, Financial knowledge and innovation to push its agenda.
Understanding RenMoney Investment
As mentioned earlier, Renmoney is a brand that is more synonymous with providing personal loans to those who need them. However, the organisation is diverse in operations, and not only does it provide credit facilities, but it also gives a platform to increase and grow personal wealth through investments.
That is what Renmoney Investment is all about.
How to Invest with Renmoney Investments
Investing with Renmoney can be in two dimensions. It’s either you invest using the Savings Platform or the Deposits Platform.
- Savings: there are two approaches under this platform. You could either save your funds with the Save Easy plan or the Smart Goal plan. With Save Easy, you can choose to save at your convenience, starting from a minimum of 500 naira. Whatever you save appreciates over time with the interest rate added on to the plan. Smart Goal, on the other hand, is for savings that are meant for a specific purpose. You set a target savings goal, and then the savings calculator lets you know how much you need to save to meet the goal, and how much it would fetch you in interest earned.
- Deposits: the Deposits plan is one whereby you put an amount in a fixed account for a particular time frame. In that time, it matures and increases in value based on the interests attached to the deposit plan. Deposit plans with Renmoney attract an interest rate of 5 per cent per annum.
What Steps Do I Take to Begin the Investment Process?
To begin the investment process here’s what you need to do;
- Choose your savings plan (your target savings, and how long you want it to last)
- Fill in the necessary Details
- Begin Saving
- Choose your deposits plan; how much you want to invest and the length of the investment
- Fill in the necessary details
- Create your fixed deposit
How Much Interest Rates Do These Plans Attract?
The savings plans to attract up to 10 per cent per annum on whatever amount you save in relation to your goal. Deposit,s on the other hand, attract 5 per cent on the fixed deposits.
If you are looking for investment options that you can trust without any hassles, then perhaps it’s time you took a solid look at Renmoney Investments.