Cash wallet loan app review: interest rate, how to apply and is it legit - Startuppreneur
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Cash wallet loan app review: interest rate, how to apply and is it legit

Cash wallet will give you instant loan in Nigeria without collateral or guarantor and you don’t need to visit any location with your phone and BVN you are good to go.

Their loan processing is very fast within 1 hour of submitting application your loan will be disburse. You can obtain up to to #100,00 loan from this loan app

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Requirement to obtain loan from cashwallet loan app

Before you cab obtain loan from this loan app you need to meet up with some requirement which are

Have source of income

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Be above 18 years of age

Have good credit score

You must not have defaulted on any loan before

Reside in Nigeria

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Have smartphone with which to download the app

How to apply for Cashwallet loan app

Head over to play store and download the app

Register with your name and other details

You will be ask to bind your ATM card which might attract #30 fee, do so

After the registration you will be login to your dashboard

On your dashboard locate and click on loan.

There you will see amount of loan you are eligible to obtain

Click it and wait for disbursement

How much you can loan from cash wallet loan

You can obtain up to #100,000 loan from this loan app but as first timer you will not be able to obtain up to this, your eligible loan will be between #10,000 to #30,000.

As you continue to take loan from this loan app and pay back on time the amount of loan you cab obtain will increase.

Cash wallet interest rate and repayments period

Cash wallet interest rate is between 5% to 25% depending on the repayment period and the amount of loan obtain the repayment period is between 6 days to 2 months also depend on the amount of loan obtain.

For first timer you will receive high interest rate and short repayment period until you prove yourself by taking loan and paying back on time.

Repaying your cash wallet loan

You can repay your loan with ATM card or transfer to their bank account. When making transfer ensure you have correct account number to avoid story that touch.

Login to your dashboard

Locate loan repayment and click on it

There you will see deferent methods to payback your loan

Select one and make payment

Once you make payment it will reflect on your dashboard but if it does not, contact them and let them know.

What will happen if I default

If you default you will be punish by increase in you interest rate but if you decided not to pay back your name, BVN and other details will be send to credit bureau for black listing which means you will not be able to take loan again in Nigeria.

Is cashwallet loan legit

Yes they are legit they give out loan to people in Nigeria, but they are not license by CBN so take caution when taking loan from them.

Our verdict on cash wallet loan app

Cash wallet loan is legit, they do give out loan. They have good rating on play store but this is due to the low numbers of review.

They have about 350 review which is small compare to the numbers of time the app has been downloaded.

Well what we can say is that take caution when taking loan from this loan app. Do not take more than you can payback.

We don’t know if they send defamatory message to their customer’s contracts since they are new.

Conclusion

Cash wallet do give out instant loan but take loan that you can pay back to avoid embarrassment and know that they are not license by CBN, if anything goes wrong it will take time before CBN will interfere.

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