Fair cash loan app review: interest rate, how to apply, is it legit - Startuppreneur
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Fair cash loan app review: interest rate, how to apply, is it legit

Fair cash is a loan app in Nigeria that give out instant loan to people. With Fair cash loan you can obtain up to #100,000 at a go without collateral or paper work.

Their loan processing is fast, once your application is successful your bank account will be credit. You don’t need to leave your location before you will obtain the loan, with your phone you are good to go.

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Requirement to obtain fair cash loan app
Below are the requirement you need to meet up with before you can obtain loan from fair cash

Have bank account and BVN

Have good credit score.

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Be above 18 years of age

Have smart phone with which to download the app

Reside in Nigeria

How to apply for fair cash loan

The first step is to head over to play store to 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, do so and proceed

After the registration you will be login to your dashboard

On your dashboard locate and click on loan

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

Take the offer and wait for disbursement

How much you can obtain from fair cash loan

With fair cash you can obtain up to #100,000 without collateral or paper work, but as a first timer you will not be able to receive up to this amount , as you continue to take the loan and pay back, the amount you can obtain will increase.

Fair cash loan interest rate end repayment period

Fair cash interest rate depend on the amount of Ioan obtain and the repayment period. It is between 5% to 10%. The repayment period is between 7 days to 1 month.

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

Paying back your fair cash loan

To pay back your loan, head over to your dashboard

Locate loan repayment and click it

Here you will see deferent method to pay back your loan

Click on it and and pay back your loan

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

What will happen if I don’t pay back my loan

If you default you will be punish by increase in your loan interest rate but of you decide not to payback at all, your name, bvn and other details will be sent to credit bureau for blacklisting, which means you will not be able to take loan again in Nigeria until you settle your debt.

Is Fair cash loan legit

Yes the loan app is legit, they have given loan to many people in Nigeria, but they are not license by CBN so exercise caution when taking loan from them.

Our verdict on Fair cash loan app

Fair cash loan app is legit, they have god reviewed on play store, which shows that they are doing something right but since they are not license by CBN, you should exercise caution when dealing with them, do not take loan that you can not pay back.

Conclusion

Obtaining loan in Nigeria is now easy, there are many loan app that will give you instant loan, but I will advice you to take loan that you know you can pay back to avoid had I know.

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