Complete Guide on How to Apply for the NYSC YouthCred loan

The Nigerian Consumer Credit Corporation (CREDICORP) launched the YouthCred portal to provide loans to Corps members. The initiative, unveiled in partnership with the National Youth Service Corps (NYSC), is part of the federal government’s mission to provide a consumer credit program for 400,000 Nigerians

For its actualisation, CEDICORP signed a formal Memorandum of Understanding (MOU) with the NYSC, which will be working hand-in-hand to empower Corps Members with access to responsible credit. The agency also noted that it has trained NYSC officials nationwide on the YouthCred platform, ensuring that every Corps Member gets access to financial education and the credit support initiative

The initiative aligns with President Bola Tinubu’s Democracy Day promise to launch a consumer credit program, aiming to empower 400,000 Nigerians financially.

“This July, we will launch a bold new initiative to empower four hundred thousand young Nigerians, including youth corpers, with consumer credit,” the Presidency noted earlier this year.

In line with the official launch of the initiative for corps members, CREDICORP have noted that active NYSC members can now sign up and apply for credit on the initiative’s website.

What you should know about YouthCred

YouthCred is a loan scheme designed by the Federal Government, through the CREDICORP, to help young Nigerians have a valuable life and learn how to manage credit responsibly for the future.

For NYSC corps members, YouthCred offers a plan called Corper Credit. The offer includes progressive loans with up to six months of low-cost credit, available through an application process.

YouthCred also introduced a credit card option for corps members, where they can manage credit with more autonomy and unlock larger limits during their service year.

CREDICORP explained that YouthCred is one of the most affordable financing options available in the country today.

• For eligibility, a corp member must have a minimum of two months left in his service year. 
• YouthCred allows corps members to access upfront consumer credit of N100,000 to N150,000, repayable in small instalments over their service year.
• However, the maximum amount for the first loan application is N50,000.
• The credit is offered at near single-digit interest rates, with little to pay back: (1.5% monthly interest).
• Access to credit under the YouthCred program is conditional on one key factor: training.

How it works

While the loan is available for every active corps member, they are mandated to go through a digital financial literacy program. This covers courses such as the basics of credit, budgeting, credit scores, and financial responsibility.

The training also includes case studies and a final assessment that guarantees qualification to access the credit.

Also Read: Federal Government N50m Grant to Support STEEM Students: What to Know

How to apply for YouthCred

Below is a complete guide on how Corp members can apply for a loan under the YouthCred.

Sign Up/Register

• Access the portal on your web browser.
• Click on ‘For Corpers’ under the ‘Our Products’ section. Then, click on ‘Get Started’.
• On the login page, click on ‘Sign Up’, then select ‘NYSC Corper.’
• At the Sign Up page, you’ll be required to provide details such as a valid email address, Call Up Number, take a selfie, and upload a copy of either your NYSC ID card, Call up letter or Deployment letter (PPA).
• Once the above is done, click on ‘Continue to Verify’.

Sign Up Verification

• You’ll receive a notification email acknowledging your document submission, and another confirming the successful verification.
• On the verification email, click on ‘Complete Onboarding Now.’ You’ll be automatically redirected to the YouthCred App to provide your NIN and BVN details for verification. This must correspond with the details linked to the Call Up Number submitted.
• Once successful, create your password.
• You’ll receive a congratulatory email and be required to log in with your email and password.

Getting Started

To commence your loan application, you’ll be required to complete a crash course on financial and credit management. After which, you’ll link and confirm your bank account, and then apply for a loan.

Below is a step-by-step guide on navigating these stages.

1. Taking a Course

Here, you’ll be required to start courses on fighting financial crime. You’re expected to score above 80% in your assessment quiz.

Note that without completing the course, you can neither link your bank account nor access loans. 

Tip: If you’re accessing the platform/course through your mobile device, switch to desktop mode for a seamless navigation. 

Below are the course topics

• Lesson 1 – Introduction to Credit: What is Credit – Why use Credit? – Types – Benefit of Credit – Case Studies – Assessment – Certificate.
• Lesson 2 – Credit Basics: How to Borrow – Understanding Loan Agreements – What is Interest – Impact and Planning for Credit – Case Study – Final Assessment – Certificate.
• Lesson 3 –  Repaying your Loan: Repaying on Time – Consequences of not repaying – Plan to Repay –  Case Study – Final Assessment – Certificate.
• Lesson 4 – Credit History and Your Future: Your Credit Score – Improving Your Credit Score – Why it matters – Case Study – Financial Assessment – Certificate.

In all, you’re to complete 4 courses, 4 assessment of 5 multiple choice questions each, and obtain 4 certificates.

Also Read:How to Fix Common Application Errors on recruitment.cdcfib.gov.ng (2025 Guide)

2. Setting up a Bank Account

Here is where you set up your bank account for loan disbursement and complete identity verification.

• Click on ‘Create Bank Account’.
• Set up a 4-digit pin.
• Fill the place of primary assessment.
• Link your Bank Account to YouthCred’s mono. YouthCred uses mono to access your financial history.
• After successfully linking, your bank account will be automatically verified and analysed to determine if it’s ‘Credit Worthy’.

Tip: Use your NYSC bank account for easy verification. 

3. Apply for a loan

Here’s where you submit your loan application and await approval

• Navigate to ‘My Loans’ on your dashboard and click ‘Apply for Loan‘.
• Select loan amount, duration for repayment and purpose. Scroll to view the repayment schedule and interest rate.
• Click on proceed and confirm your transaction pin.

The loan application approval takes 30 minutes to 1 hour. You’ll be notified via email regarding your application status.

4. Repayment

Once your payment has been disbursed into your linked account, log in to your YouthCred dashboard to view your repayment plan/schedule by clicking on ‘View Repayment Schedule’. All loans carry an interest of 1.25% per month.

Provided you want to pay off your loan before the expected repayment date:

• On your YouthCred loan dashboard, click on ‘Pay off Loan’ 
• Select your preferred payment gateway and pay.
• Once confirmed, you’ll receive an email confirmation, and your dashboard will be cleared of the existing loan.
• You can also reapply for another loan.

Note that as a Corp Member, you are only eligible for a loan application provided you have a minimum of two months left before your winding-up date.