Banking services

How To Borrow From Mama Credit Loan App: Mama Credit Loan App Apk Download, Customer Care Details

Mama Credit is a popular loan app in Nigeria that allows users to easily borrow money through their smart phones. With Mama Credit, you can get a loan in just a few minutes without any collateral or paperwork.

In this blog post, we will provide a step-by-step guide on how to download the Mama Credit loan app, register and create an account, requirements for getting a loan, repayment process, and customer care details.

Getting Started with Mama Credit Loan App

Here are the basics to get started with the Mama Credit loan app:

1. Download the Mama Credit Loan App

The first step is to download the Mama Credit loan app on your Android phone. You can download the app from the Google Play store. Just search for “Mama Credit” and you will find the app. Download and install the app.

2. Register and Create an Account

Once you have downloaded and installed the app, open the app and tap on “Register”. You will need to provide your BVN, phone number, email, date of birth, and residential address. Make sure to provide accurate information otherwise, your registration may fail. After entering the details, read and agree to the terms and conditions and then tap on the register.

If your registration is successful, you will receive an OTP on the phone number you provided. Enter the OTP to verify your number. Once verified, your Mama Credit account will be created.

Loan Requirements

To qualify for a Mama Credit loan, you must:

• Be a resident of Nigeria
• Have a valid means of identification (national ID card, voter card, driver’s license, etc.)
• Provide your BVN details
• Have a regular source of income

The minimum amount you can borrow is ₦1,500 while the maximum is ₦500,000, depending on your profile. First-time borrowers usually get lower loan amounts which increase as they repay existing loans.

How to Apply for Loan

Follow these simple steps to apply for a loan from Mama Credit:

1. Login to your Mama Credit account
2. Tap on “Borrow” option
3. Select the desired loan amount and repayment tenor. You can choose 7 days, 14 days, 21 days, or 30 days repayment period.
4. Tap on “Borrow Now”.
5. Your loan application will be processed immediately.

If approved, the loan amount will be instantly credited to your bank account associated with your BVN.

Repaying Your Loan

Mama Credit provides multiple convenient repayment options:

• Bank Transfer – Make a direct bank transfer to Mama Credit before the repayment date
• Card Payment – Use your ATM card to pay on the app or website
• Mama Credit Repayment Agents – Visit the nearest agent location to repay in cash

Make sure to repay your loan before the repayment date to avoid late fees or a negative impact on your credit score. Multiple late repayments can affect your ability to get future loans.

Having Trouble Repaying?

If you are having difficulties repaying your loan, don’t panic. Get in touch with Mama Credit customer care immediately and explain your situation. Based on the assessment, they may be able to provide you with some relief such as:

• Rescheduling repayment date
• Reduced installment amount
• Waiving off late payment fees

So make sure to inform them before you miss a repayment date.

Mama Credit Customer Care

If you have any queries, complaints, or issues related to Mama Credit, you can contact their customer care through:

• Email –
• Phone – 09088888888
• WhatsApp – 090888888888
• Website Live Chat

Agents are available 24/7 to assist you on calls and chats. So don’t hesitate to get in touch with them for a quick resolution of your issues.

Some Common Customer Queries include:

• Forgotten password/login issues
• Pending KYC verification
• Application status
• Repayment date rescheduling
• Tech/app issues

Benefits of Using Mama Credit Loan App

Taking a loan from Mama Credit comes with several useful benefits such as:

1. Super Fast Disbursal

Once your loan application is approved, you get the money instantly credited into your bank account linked with BVN. This enables you to access funds in real quick time to address any urgencies or expenses.

2. No Collateral Required

Most banks and financial institutions require collateral or security against loans. However, with Mama Credit, you just need to meet the eligibility criteria to qualify for unsecured loans. So you don’t need to put your assets like property, gold, etc. at stake just get a small short-term loan conveniently.

3. Completely Digital/Paperless Process

The entire process from loan application to documentation, approval, and disbursal happens digitally without any physical paperwork. This saves time and makes the lending process very convenient through a smartphone.

4. Multiple Repayment Options

Mama Credit offers flexibility in the repayment process. You can repay your loan through online bank transfers, payment gateways, or physically via designated Mama Credit agents. So you have multiple options to select as per your convenience.

5. No Restrictions on Loan Usage

Once Mama Credit loans are credited into your bank account, there are no restrictions on end-usage. You have complete freedom to utilize the funds for any personal or business expense as per your discretion and priority.

6. Boosts Credit Rating

By borrowing and repaying loans responsibly from Mama Credit, you can also build a positive credit score. This improves your profile and eligibility for higher loan amounts with Mama Credit as well as other lenders in the future.

7. EMI Adjustment Flexibility

Facing difficulties in repayment? You can get in touch with customer care to reschedule your EMIs to reduce the burden. The repayment tenor can be extended with adjustment in EMI amounts to match your repayment capability based on circumstances.

How Mama Credit Manages Risks

Providing unsecured loans solely based on applications poses risks. Mama Credit utilizes the following methods to mitigate risks:

1. Verifying Applicant Identity & Eligibility

Mama Credit verifies applicant identity and eligibility information provided against documents, credit bureau databases, telecom records, and other external agencies. Any inaccurate information can lead to rejection.

2. First Loan Capturing Repayment Behaviour

The amount of a customer’s first loan is usually small, even if their profile supports a higher amount. This enables Mama Credit to test a customer’s repayment commitment capacity based on the repayment track record on the first loan before increasing the limit.

3. Mama Credit Agent Network for Recovery

The company has an extensive agent network spread across Nigeria to collect EMIs from customers. Agents personally contact and follow up with customers to collect repayments due to Mama Credit.

4. Internal Credit Rating System

Mama Credit uses its proprietary rating and scoring algorithms. A credit rating score is assigned to each customer based on their repayment track record across multiple parameters. Customers thereafter get loan amounts sanctioned based on their credit rating scores.

5. Tough Stance on Defaulters

If despite multiple chances the repayment does not materialize, severe steps are taken such as blocking the customer account, reporting default to credit bureaus, and legal recourse. These steps reinforce Mama Credit’s tough stance on eliminating serial defaulters.

Mama Credit Revenue Sources

Mama Credit earns through the following primary methods:

1. Interest and Fees from Loans

Mama Credit charges competitive interest rates, lending fees, and late EMI fees from customers. The spread between the cost of delivering funds to customers and the fees charged is a big revenue source. The rates vary from 3% per month for new customers, to 2% per month for repeat borrowers with good repayment records.

2. Commission from Strategic Partners

Mama Credit has tie-ups with multiple partners involved in the lending value chain like banks, telcos, fintech platforms, etc. It receives commission for new leads, data sharing, KYC checks, etc from these partners leading to additional monetization.

3. Venture Capital Funding

Mama Credit is backed by marquee investors and venture capital funds such as Velocity, Quona Capital, Lendable, etc. It has raised more than $25M in funding to date which provides growth capital for expanding its business operations.

Frequently Asked Questions About Mama Credit Loan App

What is the maximum loan amount I can get in Mama Credit?

The maximum loan amount you can receive in Mama Credit is ₦500,000. However, the specific loan amount approved depends on your creditworthiness.

How soon can I get the loan after the application?

If your loan application is approved, the amount is instantly disbursed into the bank account linked with your BVN within a few minutes.

Can I extend my loan repayment tenure if I am unable to repay on time?

Yes, you can get in touch with the customer care team to reschedule the repayment date or get an easier EMI plan to avoid late payment fees.

Are there any hidden charges apart from the interest rate?

No, there are no hidden charges. The interest rate and late payment fees if applicable are the only charges.

Can I have more than one loan running simultaneously?

Yes, you can have multiple loans if you have repaid existing loans responsibly and your credit rating allows sanction of additional loans.

What documents do I need for the Mama Credit loan account?

You just need a valid ID proof, BVN details, and bank account info. No other physical documents or collaterals are required.

Can I repay the loan via cash instead of bank transfer?

Yes, you can repay your loan in cash at authorized Mama Credit agent outlets spread across different locations.

What happens if I am unable to repay the loan?

Failing to repay even after sufficient follow-ups from agents can negatively impact your credit rating. It may also lead to legal proceedings based on circumstances.


Mama Credit provides an easy and convenient way to get access to quick short-term loans directly from your phone without any paperwork. Just download the app, register with your details, apply for a loan after meeting eligibility criteria, and get funds transferred instantly to your bank account. Make sure to repay the loans promptly to continue enjoying uninterrupted services and qualify for higher loan amounts in the future. Get in touch with customer care staff to resolve any issues. So go ahead and download the app to experience these quick and convenient loans today.

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