Kashnow loan is another loan platform in Nigeria, they give loan to employee and individual. For employe loan you don’t need collateral or paper work just ensure your salary is been paid with remitta, your account will surely be credited
What is kashnow loan
Kashnow loan is a loan company that has been in existence for more than three years. They have two types of loan product, one targeted at all people, but you need to back it with asset, in other word collateral.
The second is employee loan, in this loan product you don’t need any collateral or paper work, you can apply through their website or dial their USSD code which will be given before the end of this article.
Requirement to get loan from kashnow loan
Below are the requirements you need to meet
You should have a salary account if you are applying as employee
You should have bvn
You should not have defaulted on any loan before
You should have good credit score
How to apply for kashnow loan
There are two ways to apply for this loan
Go to their website
The first step is to go to their website, there you will see loan option click it, it will drive you to a page where you will login. Follow the procedure and apply for loan.
Dial ussd code
This is for those applying for employee loan
Dial *5077# on your phone and follow the prompt
Ensure the sim is connected to your salary bank account
How much you can get from kashnow loan
As employee the minimum you can get is #5,000 while the maximum you can get is #50,000.
Though it is small, kashnow make it known that you can apply more than once. For asset back loan you can obtain as much loan as your asset can cover.
Kashnow interest rate and repayment period
Their interest rate is between 2% to 30% depending on the amount of loan you want to obtain.
The repayment period is just 1 month, once you receive your salary the money will be automatically deducted.
Repaying kashnow loan
As stated above, the loan is 1 month therefore you don’t need to run around trying to pay back immediately your salary enter the loan will be automatically deducted.
Is kashnow loan legit
Yes they are legit, they have been in existence since 2019. There are numerous people who have gotten loan from them. The only problem is that they are not insured by NDIC nor approved by CBN.
Loan can be become addict which may lead to disgrace, only take know when you need it and when you have a source to pay the loan back.
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