Kashpal is one of the loan app in Nigeria that will give you quick loan with out collateral or paper work. Their loan processing is very fast within five minute of successful application your loan will be disburse. You don’t need to visit any location, with your phone you are good to go.
Kashpal is a French/ Nigeria loan app they offer other banking function apart from loan. With kashpal you can obtain up to #200,000 loan at a go.
Requirement to obtain loan from cashpal
To obtain loan from kashpal you need to meet up with some requirement which are
Have good credit score
Have BVN and bank account
Have source of income
Be above 20 years of age and under 60 years of age
Have smart phone with which to download the app
How to apply for kashpal loan app
The first step to apply for this loan app is to head over to play store and download the app
Launch it and register with your name, bvn and other banking information
Once you are done with registration, you will be login to your dashboard
There you will see amount of loan you are eligible to pay back
Click the loan and wait for disbursement
How much you can obtain from kashpal loan app.
With cashpal loan app you can obtain up to #200,000 at a go without collateral or paper work but as a first timer the amount of loan you can obtain will not be up to this but as you continue to use the app the amount of your eligible loan will increase.
Kashpal loan interest rate and repayment period
Kashpal loan interest rate is between 5% to 20% per month and 0.15% to 1% daily. The repayment period is between 7 days to 1 year.
As a first timer your interest rate will be high and your repayment period will be short. This is just to test you,.as you continue to use the app it will improve
Paying back your kashpal loan
To payback your loan head over to your dashboard
Click on loan repayment
Thee you will see deferent options to payback your loan
Click on one and make payment
Once you make payment it will reflect on your dashboard
If it does not, contact them
What will happen if I default or refuse to pay
If you default, you will be punish by increase in your loan interest rate which is usually 2% and if you decide not to pay back at all, your name and Bvn will be forwards to credit bureau for black listing which means you will not be able to take loan again in Nigeria until you settle your debt and clear your name with credit bureau.
Is cashpal loan legit
Yes the loan app is legit, they do give out loan, The only problem with them is that they are not license by CBN nor insured by NDIC.
Our verdict on kashpal loan app
Kashpal loan app is legit, they have given loan to a lot of people in Nigeria. They have good review on play store which shows that are doing something right.
They have one bad side, before you can obtain loan you need to pay processing fee which is between #750 to #7,000 depending on the amount of loan obtain.
Above is how to obtain loan from kashpal. In truth there are now app to obtain loan from in Nigeria, with a click on your phone you will secure a loan.
I will advice you to take loan that you can pay back to avoid had I know and embarrassment.
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