Care finance is another loan app in Nigeria that give instant loan without collateral or paper work. With Care finance you will obtain up to #100,000 loan at a go. You don’t need to visit any location with just your phone you will secure the loan.
Requirements to obtain loan from care finance
Below are the requirement you need to meet up with before you can obtain loan from this app
Have good credit score
Be above 18 years of age and below 55 years
Have source of income
Reside in Nigeria
Have smart phone with which to download the app
How to apply for care finance loan app
The fist step to take is to head over to play store and download the app
Launch it and register with your name , BVN and other banking information
You will be ask to bind your ATM card which might attract #30 fee, 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 it and wait for disbursement
How much you can obtain from care finance loan app
With care finance loan app you can obtain up to #100,000 loan at a go. As a first timer you will not be able to obtain up to this. But as you continue to use the app your eligible loan will increase.
Care finance loan interest rate and repayment period
Care finance loan interest rate is between 0.04 to 0.06% per day and 15% to 22% per year, it depend on the amount of loan obtain and the repayment period.
Their repayment period is between 7 days to 180 days. As a first timer your interest rate will be high and your repayment period will be short, this will improve as you continue to use the loan app
Paying back your Care finance loan
To pay back your loan head over to your dashboard
Locate and click on loan repayment
There you will see option to pay back your loan
Click on one and make payment
Once you make payment it will reflect on your dashboard
If it does notz you should contact them
What will happen if I default or refuse to pay
If you default you will be punish with increase in your loan interest rate and if you refuse 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. They might also send defamatory message to your contacts
Is care finance loan app legit
Yes they are legit, they have given loan to many people in Nigeria but they are not licence by CBN nor insure by NDIC.
Our verdict on care finance loan app
Care finance loan app is legit, they will surely give you loan, they have good review on play store Their loan processing is fast and they do not charge loan processing fee.
The only problem with them is that they are not license by CBN, so exercise caution when taking loan from them.
Above is how to obtain loan from care finance, as you can see they do give out loan, I will advice you not to take loan that you can’t pay back, try to avoid embarrassment and had I know
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