Cashdey Loan App Review: interest rate, is it legit, how to apply - Startuppreneur

Cashdey Loan App Review: interest rate, is it legit, how to apply

Cashdey loan app will give you instant loan without collateral or paper work, you don’t need to visit any location with your phone you will secure the loan.

Their loan processing is very fast within 30 minutes of submitting application your loan will be disburse. With cashdey loan you can obtain up to #100,000 loan at a go.


What is cahsdey loan app

Cahsdey loam app is a finance company in Nigeria, that give out unsecured loan. They give pit loan to business and an Individual.


Requirement to obtain cashdey loan

Like other loan app in Nigeria below are the requirement you must meet up with before you can obtain loan from cashdey

Have source of income

Reside in Nigeria

Have bank account and BVN


Have good credit score

Be above 18 years of age

How to apply for loan on cashdey loan app

Download cashdey loan app on play store

Launch it and register with your name, BVN and other details

You will be ask to bind your ATM card which will attract #30 fee, do so and proceed

Once you are done with registration you will be logging 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 this loan and wait for disbursement

If everything goes right it shouldn’t take more than 30 minutes

How much you can obtain from cashdey loan app

With cashdey loan, you can obtain up to #100,000 loan at a go. If you are a first timer the amount of loan you can can obtain will be less than this but as you continue to take loan and pay back regularly the loan amount will increase.

Cashdey loan app interest rate and repayment period

Their interest rate is between 12% to 25% depending on the amount of loan obtain and the repayment period. The repayment period is between 7 days to 3 months also depend on the amount of loan obtain.

Paying back cash bean loan

You can pay back your cash bean loan with ATM card or ask for their account number and make transfer. When making transfer ensure you have the correct account number to avoid story that touch

Login to you dashboard

Locate and click on loan repayment

There you will see deferent method to pay back your loan

Click one and proceed

Once you make payment it will reflect on your dashboard

If it does not, contact them

what will happen if i default

If you default you will be punish by increase in interest rate and if you decide not to pay back at all, they might send defamatory message to your contacts, which can be embarrassing.

Is cashdey loan legit

Yes cashdey loan is legit, they will give you loan, but they are not license by CBN nor insured by NDIC so you should exercise caution when taking loan from them.

Our verdict on cashdey loan

Cashdey loan will really give you loan, they have been in existence for more than 6 months.

They have good review and god rating on play store which shows they are doing something right but since they are new and not license by CBN I will advice you to exercise caution when taking loan from them.


Cashdey loan app is not license by CBN not insure by NDIC, if things go wrong, it will take time before CBN will interfere so take caution when taking loan from them.

Do not take more than you can pay back to avoid had I know.

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