by Cash rain will give you instant loan in Nigeria without collateral or paper work. Their loan processing is very fast and you don’t need to leave your location, with you smart phone you wil secure the loan. With cashrain loan app you can obtain up to #100,000 loan at a go.
Requirements to obtain loan from cashrain loan app
Below are the requirement you need to meet up with before you can obtain loan from this app
Have source of income
Be above 22 years of w age
Have bank account and bvn
Have good credit score
Reside in Nigeria
How to apply for cashrain loan app
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
You will be ask to bind your ATM card which might attract #30 fee, do so and proceed
Once you are done with registration you will be login to your account
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
How much you can obtain from cash rain loan app
With cashrain loan app, you can obtain up to #100,000 loan without collateral or paper work.
As a first timer you will not be able to obtain up to this , your eligible loan might not be more than #30,000. As you continue to use the app, the amount of loan you can obtain will increase.
Truemoney loan interest rate and repayment period
Truemoney interest rate is between 5% to 25% depending on the amount of loan obtain. The repayment period also depends on the amount of loan obtain. It is between 7 days to 90 days.
Paying back your cashrain loan
To payback your loan head over to your dashboard
click on loan repayment
There you will see deferent option to pay back your loan
Click on 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 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 Nigeria until you pay back and clear your name with credit bureau.
Is cashrain loan legit
Yes, cash rain loan is legit, they will surely give you loan but they are not license by CBN nor insure by NDIC.
Our final verdict on cashrain loan app
Cashrain loan app is legit they have good review on plays store as at the time of writing this article which shows that they are doing something right.
They do not send defamatory message to their customer’s contact. The problem they have is that it take time they approve application also they are not license by CBN
If you are taking loan from this app, you should exercise caution.
Conclusion
Above is how to obtain loan form Cashrain, as you can see they do give out loan but take loan that you know you can payback to avoid had I know and embarrassment.
This loan app is not license by CBN so if there is a problem it will take time before they will interfere.
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