Cash mall loan app will give you instant loan in Nigeria without collateral or paper work, their loan is easy and hassle free, you don’t need to leave your location before you will obtain the loan you can obtain it with your phone just ensure you have good credit score.
With cashmall loan app you can obtain up to #500,000 loan at a go.
Requirement to obtain loan from cash mall
Like many loan app in Nigeria, you need to meet up with some requirement before you will be able to obtain the loan
Have good credit score
Reside in Nigeria
Have bank account and BVN
Have source of income
Have smart phone with which to download the app
If you meet up with his requirement, you can proceed to apply for the loan
How to apply for cash mall loan
The first step to take is to download the loan app from play store
Launch it and register with your name and other details
You will be ask to bind your ATM card which will 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 disbursemt
How much you can loan from cash mall loan app
With this loan app you can obtain up to #500,000 loan without collateral or paper work.
If you’re applying for the first time your loan amount will be small between #2,000 to #30,000 but as you continue to take the loan and payback on time the amount of loan you cab obtain will increase.
Cashmall interest rate and repayment period
Their interest rate is between 15% to 30% per annum depending on the credit score and the amount of loan obtain.
The repayment period is between 7 days to 90 days also depend on the amount of loan obtain . 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 app
How to pay back your cash mall loan
Login to your dashboard
Locate and click on loan repayment
There you will see option to pay back your loan
Click it and make payment
Once you make payment, it will reflect on your dashboard
You might not want to pay back with your ATM card, contact them them and ask for their account number and transfer to it.
What will happen if I default
If you default you will be publish by increase in your interest rate and if you decided not to pay back at all, your name, bvn and other details will be sent to credit bureau for blacklisting which means you will not be able to obtain loan again in Nigeria until you settle your debt.
Is cashmall loan legit
Yes the loan app is legit, they will give you loan without collateral but they are not licence by CBN.
Our verdict on cash mall loan app
Cash mall loan app is legit they have given loan to a lot of people in in Nigeria, they have good review and rating on play store bit since they are not license by CBN I will advice you to exercise caution when taking loan from them
Conclusion
Above is how to apply for cash mall loan app, as you can see they are not license by CBN which means if anything goes wrong it will take time before CBN will interfere. Do not take loan that you can not payback to avoid embarrassment.
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