Cashlion loan app; how to apply, interest rate and others

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Cahslion koan app will give you instant loan in Nigeria without collateral or paper work. It is one of the loan app that does not discriminate. They give loan to everybody in Nigeria; both salary earners and non salary earners.

What is cash lion loan app

Caslion loan app is a finance app develop by cashlion loan company. They give out instant loan to people in Nigeria, you don’t need to visit any location with your phone and bvn you will secure the loan.

Requerment to get loan from cash lion

Before you can secure loan from this app you need to meet up with some requirements which are

Be a Nigerian and resides in Nigeria

Have good credit score

Have a source of income

Have back account and BVN

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Have smart phone

How to apply for cash lion loan

To apply for this loan head over to play store and download cash lion loan app

Launch the app and register with your name and other details

You will be ask for your BVN, submit it and proceed

Once you are done with registration you will be login automatically

On your your dashboard locate loan and click it

There you will see amount of loan you are eligible for

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Click it and wait for your loan to be disbursed

How much you can obtain from cahslion loan app

With cash lion you can obtain up to #200,000 loan without collateral of paper work. As first timer your loan may be small than this but as you continue to use the app, amount eligible to loan will increase

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Cash lion loan interest rate and repayment period

Their interest rate is between 5% to 25% depending on the amount of loan borrow. The repayment period is between 7 days to 3 months also depending on the amount of loan borrow and credit score.

For first timer your loan interest rate will be high and he repayment period will be low but once you prove yourself, it will improve.

Repaying your cash lion loan

You can pay back your loan using ATM card or contact them and ask for their account number and transfer to it. Ensure you have correct account number before you make transfer.

Is cash lion loan app legit

Yes the loan app is legit many people have receive loan from this app also they have positive reviews and good rating on play store. But they are not licensed by CBN nor insured by NDIC, so excersise caution when taking loan form this app.

What I like about this loan app

  • They are quick in disbursing loan
  • They give loan to both salary earner and non salary earner
  • They do not require collateral

What I don’t like about this loan app

  • First timer will have high interest rate and low repayment period
  • They are not license by CBN

What will happen if I default

If you default cahslion will punish you by increasing your interest rate by 2% until you payback and if you decide not to payback your BVN will be forward to credit bureau for black listing which means you will not be able to take loan anywhere in Nigeria

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Cash lion contacts

Email
support@cashlion.ng

WhatsApp
+234 8109252549

Conclusion

Cashlion loan app will give you instant loan in Nigeria, you don’t need any collaterals with your phone, you will secure the loan, but know that this loan app is new and they are not license by CBN so exercise caution when taking loan from them.

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