Ankcash loan app review: interest rate, is it legit and how to apply - Startuppreneur
Advertisement
Advertisement
Loan

Ankcash loan app review: interest rate, is it legit and how to apply

Ankcash is one of the loan app that give out loan with out collateral or guarantor in Nigeria. You don’t need to visit any location before you will obtain the loan with your phone you are good to go. With Ankcash you can obtain up to #50,000 loan at a go.

Requirement to obtain Ankcash loan

Below are the requiremnt you must meet up with before you can obtain loan from Ankcash

Advertisement

Be a Nigeria and reside in Nigeria

Be above 18 years of age

Advertisement

Have good credit score

Have source of income

Have bank account and BVN

Have smart phone with which to download the app

Advertisement

How to apply for Ankcash loan

Once you meet up with the requirement the next thing is to apply for the loan

Go to play store and download the loan app

Launch the app and register with your name, BVN and other details

You will be ask to bind your ATM card do so and proceed

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 on it and wait for disbursement

How much you can obtain from Ankcash loan

With ankcash loan you can obtain up to #50,000 at a go with out collateral or paper work, but as first timer you will not get up to this, your eligible loan offer will be between #10,000 to #20,000 but as you continue to take loan and back on time, the amount of loan you can obtain will increase.

Ankcash interet rate and repayment period

Ankcash loan interest rate start from 12% depending on the amount of loan secure and repayment period.

The repayment period is between 7 days to 3 months also depend on the amount of loan obtain. As a first timer your interest rate will be high and the repayment period will be short. As you continue to take loan from this app it will improve.

How to repay Ankcash loan

Login to your dashboard

Locate loan repayment and click on it

Chose method to pay back your loam and make payment

Once you make payment it will reflect on your dashboard

 

If you are making transfer ensure you have their correct account number to avoid story that touch

What will happen if I default

If you defaults your loan interest rate will be will be increase by 2% until you pay back your loan, if you decide not to pay back your name will be send to credit bureau for black listing which means you will not be able to take loan again in Nigeria until you settle your debt. They might also send defamatory message to your contacts

Is Ankash loan legit

Yes the loan app is legit they will surely give you loan but they are not license by CBN and not insured by NDIC so exercise caution when taking loan from them

Our verdict on Ankcash loan app

The loan app is legit they have good review on play store and good rating though might be as a result of low number of review, well we would see what will become of in the coming days. Exercise caution when taking loan from this loan app since they are not license by CBN.

Conclusion

Above is how to obtain loan from Ankcash as you can see they do give out loan but take loan that you know you can pay back to avoid embarrassment.

Also if anything goes wrong it will take time for CBN to interfere since they are not license by CBN

Do you like this article?
Feel free to share it

Advertisement
Back to top button