Cashbus loan app: interest rate, how to apply and others - Startuppreneur
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Loan

Cashbus loan app: interest rate, how to apply and others

Cashbus will give you instant loan in Nigeria with out collateral or paper work. With cashbus you can obtain up to #200,000 loan at a go.

Their loan processing is fast, you don’t need to go to any location before you will obtain the loan, with just your phone and good internet connection you will secure the loan.

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Cashbus loan requirement

Below are the requirement you must meet up with before you can obtain loan from cashbus

Have BVN and bank account.

Have a source of income

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Be above 18 years of age

Be a Nigerian and reside in Nigeria

You must not have defaulted on any loan before

You should have good credit score

And lastly you should have smart phone with which to obtain the loan.

How to apply for Cashbus loan

The first step is to download their app on playstore

After that register with your name and other details

Your will be ask to submit your BVN, do so and proceed

After the registration you will be login

On your dashboard local and click on loan

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

Click on the loan and wait for disbursement

How much loan you can obtain from Cashbus

With Cashbus you can obtain up to #200,000 loan at a go but for first timer the amount you are eligible to loan might not be more than #20,000.

The more you take loan and pay back on time, the higher the amount you will be able to obtain.

Cashbus loan app interest rate and repayment period

Cashbus loan interest rate is between 5% to 30% depending on the amount of loan secure and the credit score of the recipient.

The repaymemt period is between 7 days to 3 months. As a first timer your interest rate will be higher and your repayment period will be low. As you continue to take your loan, will improve.

Repaying your cashbus loan

You can pay back your cash bus loan with ATM card or ask for their account number by contacting them and transfer to it. Ensure you have the correct account number to avoid story that touch.

Is Cashbus loan app legit

Yes the loan app is legit, they have given loan to many people in Nigeria. The problem with this loan app is that they are not license by CBN nor insured by NDIC.

Aslo they are known to send defamatory message to their customer’s contacts so be careful when taking loan form this loan app
What will happen if I default or did not pay back

If you default your loan interest rate will increase by 2%. If you then decided not to pay back the loan your name , BVN and other details will be sent to credit bureau for black listing, you will never be able to take loan again in Nigeria.

Conclusion

Cashbus loan is not license by CBN nor insured by NDIC and they are known to send defamatory message to their customer’s contacts therefore exercise caution when taking loan from this loan app. Do not take more than you cab pay back to avoid embarrassment
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