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

Cashpaddie is a loan app that targets Nigeria, they give out instant loan to people with out collateral or paper work and you don’t need to leave your location, you can apply for the loan with your photo. With cashpaddie you can obtain up to #50,000 loan at a go.

Requirement to obtain loan from cashpaddie loan app

Before you can obtain loan from cashppadie you need to meet up with some certaim requirements which are

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Reside in Nigeria

Have good credit score.

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Have bank account and BVN

Have source of income

Be above 18 years of age

Have smart phone with which to download the app

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How to apply for cashpaddie loan

Head over to play store and download cashppadie loan app

Register with your name, bvn and other details
You will need to bind your atm card which will cost you#30

After the registration you will be login to your dashboard

On your dashboard locate loan and click on it

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

Click it and wait for disbursement

How much you can loan from cashpaddie loan app

As stated in the introduction you can obtain up to #50,000 at a go airbrush collateral or paper work but as first timer this loan will not be up to this until you prove your self by taking loan and paying back on time.

Cashpaddie loan interest rate and repayment period

Cashpaddie loan interest rate is between 12% to 25% depending on the amount borrow. The repayment period is between 7 days to 90 days also depend on the amount borrow.

How to repay your cashpaddie loan

To repay your loan head over to your dashboard

Locate and click on loan repayment

There you will see deferent options to pay back your loan

Click one and make payment

Once you make payment, it will reflect on your dashboard, if it does not you should contact them.

What will happen if I default

If you default you will be punish by increase in your interest rate which is usually 2% and if you decided not to pay back at all they might send your bvn to credit bureau which means you will not be able to take loan again in Nigeria until you payback your loan.

Is cashpaddie loan legit

Yes the loan app is legit, they have given out loan to many people in Nigeria, but as at the time of writing this article they are not license by CBN nor insure by NDIC.

You should exercise caution when taking loan from them

Our verdict on cashpaddie loan app

They had good review e and rating on play store but this might be due to the low number of reviewer, any way we shall see what they will become in the coming days. The one problem they have is that they are not license by CBN.

Conclusion

Above is everything you need to know about cashpadie loan app. They do give out loan to people but take loan that you know you can pay back to avoid embarrassment and know that they are not license by CBN they can do and undo.

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