CashAce loan app is another loan app in Nigeria that give instant loan without collateral or paper work, their loan is classified as insecure loan.
Their loan processing is fast once your application is successful your account will be credited in minutes. You don’t need to visit any location before you will obtain the loan with smart phone you are good to go.
Requirement to obtain CashAce loan
Before you can obtain loan from this loan app their are requirement you need to meet up with which are
Have bank account and bvn.
Reside in Nigeria.
Have source of income
Be above 28 years of age
Have smart phone with which to download the app
How to apply for CashAce loan app
The first step is to head over to play store and download the loan app
Register with your name and BVN and other details
You will be ask to bind your ATM card which might attract #30, do so and proceed
After the registration you will be login to your dashboard
On your dashboard locate loan tab and click on it .
Then you will see amount of loan you are eligible to obtain
Take the offer and wait for disbursement
How much you can obtain from CashAce loan app
CashAce laon app is new, the maximum loan you can obtain from this loan app is #50,000.
As a first timer you might not get more than #20,000 this will increase as you continue to use the app.
CashAce loan interest rate and repayment period
CashAce loan interest rate is between 5% to 10% per month. The 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 until you prove your self by paying your loan regularly.
Paying back your CashAce loan app
To pay back your loan heard over to your dashboard
There you will see deferent option to pay back your loan
Click on one and make payment
Once you make payment it will reflect on your dashboard, it does not contact them.
What will happen if I default
If you default you will be punish with increase in your interest rate which might be up to 2% and if you decide not to payback at all, your name BVN and other detail will be send to credit bureau for black listing which means you will not be able to take loan again in Nigeria until you pay back your loan and clear your name with credit bureau.
Is CashAce loan legit
Yes CashAce loan is legit, they will surley give you laon, but they are not license by CBN nore insure by NDIC so exercise caution when taking loan from them.
Our verdict on CashAce loan app
CashAce loan app is a legit loan app, they will surely give you loan. They have good review on play store as at the time of writing this review but they are not license by CBN so exercise caution, do not take more than you can pay back.
As you can see CashAce loan app will give you instant loan in Nigeria, but do not take loan that you can not pay back, try to avoid embarrassment and had I know.
Do you like this article?
Feel free to share it.