Dohcash loan app: is it legit, how to apply

Dohcash is one of the loan app in Nigeria that give out instant loan without collateral or paper work.

You don’t need to visit any location before you will obtain the loan with your smart phone once you are good to go. With this loan app you can obtain up to #50,000 at a go

Requirement to obtain loan from dohcash

There are some requirement you need to meet up with before you can obtain loan from this app

Have good credit score

Have source of income

Have bvn and bank account

Be above. 18 years of age

Reside in Nigeria

How to apply for Dohcash loan

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

Register with your name, phone number, 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 dashboard 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 form Dohcash loan app

This loan app is new, you can not obtain more than #50,000 loan at ago even at that if that is your fist time, you will not get up to that your eligible loan will be around #20,000 this will later increase as you continue to take loan from them.

Dohcash interest rate and repayment period

Dohcash interest rate is 36% per annum and 3% per month, depending on the amount of loan obtain . The repayment period is between 90 days to 365 days. As a first timer your interest rate will be high while your repayment periods will be short. As you continue to use the app, this will improve.

Paying back your Dohcash 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 dohcash loan legit

Yes Dohcash koan is legit, they have given loan to many people in Nigeria but they are not license by CBN

Our final verdict on Dohcash loan

Dohcash loan will surely give you loan, they have good review on play store as at the time of writing this article.

They do not charge for loan processing fee which is a good thing. Their problem with them is they are not license by CBN so exercise caution when taking loan from them.

Conclusion

There are now many loan app in Nigeria, with just a click on your phone you will get a loan. I will advice you to take loan that you can payback so as to avoid had I know.

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