Gocash is a loan app in Nigeria. They give instant loan with out collateral or paper work, as long as you meet up with their requirements.
You don’t need to visit any location before you will obtain their loan with your smart phone, you are good to go. With this loan app you can obtain up to #300,000 at a go.
Requirements to obtain loan from go cash loan app
Below are the requirement you need to meet up with before you can proceed to obtain loan from this app
Have good credit score
Have bvn and bank account
Have source of income
Be above 20 years of age and below 50 years of age
Reside in Nigeria
Once you have all this requirement, it is time to obtain loan
How to apply for gocash 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
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 from this loan app
Like many loan app in Nigeria there is maximum amount loan you can obtain form this loan app which is #300,000.
As a first timer you will not get up to this, your maximum loan might be #30,00 but as you continue to use the loan app, this will increase.
Go cash loan interest rate and repayment period
Gocash interest rate is between 5% to 35% depending on the amount of loan secure. Their repayment period is between 7 days to 90 days also depends on the amount of loan obtain.
As a first timer be ready for high interest rate and short repayment period. It will improve as you continue to take loan from this app.
Paying back your go cash loan
To payback your loan head over to your dashbaord
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.
Trust me this process is usually time consuming, your best bet is to pay your loan as at when due.
Is gocash loan app legit
Yes, gocash loan app is legit they will surely give you loan but they are not license by CBN nor insured by NDIC
Our final verdict on gocash loan app
Gocash loan app is a legit loan company, they will surely give you loan the only problem is that they are not license by CBN. Apart from this there so noting to fear; they don’t send defamatory message to their customer’s contact, but ensure you pay back your loan.
Conclusion
Above is how to obtain loan from gocash. They will surely give you loan, but ensure you take loan that you know you can pay back to avoid embarrassment and had I know.
Also know that they are not license by CBN if things go wrong it will take time before CBN will interfere.
Do you like this article?
Feel free to share it
