Cashnow app UAE review: interest rate, how to apply, is it legit - Startuppreneur

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Cashnow app UAE review: interest rate, how to apply, is it legit

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Cashnow loan app is one of the best loan app in UAE where you can get instant loan without collateral or paper work.

Their loan processing is very fast within one hour of submitting application your loan will be disbursed.

You don’t need to leave your location before you will obtain loam from this app and all the processing will be done on your smart phone.

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With cashnow loan app you can obtain up to UAD10,000 at a go.

Requirements to obtain loan from cashnow loan app

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

  • Have bank account
  • Be above 20 years of age
  • Reside in UAE
  • Have good credit score
  • Have government issued I’D card
  • Have smart phone with which to download the loan app

Once you meet up with the requirement you can go ahead and apply for the loan

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How to apply for cashnow loan

The first step to take is to head over to play store and download the loan app

Register with your name, bvn and other details

Once you are done with registration you will be login to your account

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On your dasbboard locate and click on loan

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

Click it and wait for disbursement

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How much you can obtain from cashnow UAE loan app

With cashnow loan app you can obtain up to UAD10,000 at a go. If you are applying for the first time you will not get up to this but as you continue to use the app the amount of loan you can obtain will be increase.

Cashnow loan interest rate and repayment period

Cahshnow loan app interest rate is 25% per year and their repayment period is 90 days to 180 days.

As a first timer your interest rate will be high and your repayment period will be be short but as you continue to use the app this will improve.

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Repaying your cash now UAE loan app

To payback your loan head over to your dashboard

click on loan repayment

There you will see deferent option to pay back your loan

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Click on one and make payment

Once you make payment it will reflect on your dashboard

If it does not you should contact them.

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What will happen if I default or refuse to pay back

If you default you will be punish by Increase in your loan Interest rate which might be up to 2%.

If you abscond, your name and bvn will be send to credit bureau for blacklisting which means you will not be able to obtain loan again in until you pay back and clear your name with credit bureau.

Trust me this process  usually time consuming, your best bet is to pay your loan as at when due.

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Is cash now loan app legit

Yes, this loan app is legit they are license by appropriate authority in UAE and they have given loan to a lot of people.

Our final verdict on cashnow UAE loan app

As long as you meet their requirement you will be given loan. They have good review and rating on play store which shows that they are doing something good.

They do not harass their defaulters but surely they know how to collect their money back from them.

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Though cashnow loan app is legit, I will advice you to exercise caution when taking loan from this app, only take loan that you know you can pay back.

Conclusion

Above is how to obtain loan from cashnow loan app, as you have read above they will surely give you loan but take loan that you know you can pay back.

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