Young Nigerians aged 18 to 39, especially NYSC corps members, can now apply for affordable consumer credit through the YouthCred scheme. Here’s how to get started if you wish to know How to Apply for the YouthCred Credit Scheme:
1. Visit the Official Website
Go to www.youthcred.com to begin your application. This is the only official website for YouthCred.
2. Complete the Financial Literacy Module
Before applying for a loan, you must complete a short financial education module. It teaches basic credit knowledge, responsible borrowing, and how to build a credit score.
3. Register and Verify Your Account
Sign up with your full name, email, phone number, NYSC number (if applicable), and a valid form of ID. You’ll also upload a clear facial photo and verify your email. After that, you’ll provide your BVN, NIN, and set a secure password.
4. Apply for a Loan
After registration, log into your dashboard and go to the “My Loans” section. Choose your loan amount and fill in the necessary details. NYSC members can access between ₦100,000 and ₦150,000, usually paid in monthly installments during their service year.
5. Provide Supporting Information
You’ll need to explain why you need the loan (e.g. relocation, starting a business, or buying a device), list your income source (such as your NYSC allowance), and input your bank account details.
6. Complete Face Verification
Use your phone or computer camera to take a quick face capture. This confirms your identity and helps protect your account.
7. Submit and Wait for Approval
Once submitted, your application will be reviewed. If approved, funds are usually disbursed quickly, it’s usually within minutes to a few hours.
8. Understand the Repayment Terms
You’ll repay through automatic deductions from your NYSC allowance or via bank transfer. Timely repayment helps build your credit and makes you eligible for bigger loans in the future. No collateral or guarantor is required.
9. Build Credit for Future Access
Repaying consistently and completing your financial training gives you access to more credit benefits over time, such as higher loan amounts or longer repayment options.
Quick Summary of Eligibility and Benefits:
- Who Can Apply: NYSC members, employed youth (18–39), and youth-led businesses
- Loan Amount: ₦5,000 to ₦150,000 (NYSC members typically ₦100k–₦150k)
- Repayment Period: 1 to 12 months
- Interest Rate: Near single-digit interest
- Requirements: No collateral, no guarantor, fully digital process
