Petty cash loan: interest rate, how to apply, is it legit and more - Startuppreneur
Advertising
Advertising
Loan

Petty cash loan: interest rate, how to apply, is it legit and more

Petty cash loan is a loan company in Nigeria, they give out loan to people and mostly to salary earner. Their loan disbursement is fast and free of hassles. with this loan company you can obtain up to #500,000 loan

Types of Petty cash loan

Below are deferent types of petty cash loan

Advertising

Petty cash personal loan
In this type of loan product, individual can obtain up to #500,000 loan but you will need to use your car as collateral.

Don’t worry you will continue to drive the car. The interest rate and repayment period depend on your credit score and the collateral you drop.

Business loans
This is targeted at existing business who need loan to boost their business. In this loan product you can obtain up to #5,000,000 but your car will be use as collateral, like personal loan you can continue to use this car

Advertising

Federal staff loan
This loan is targeted at federal worker. With this loan product you can obtain up to #100,000 loan without collateral or guarantor

Payday loan
This loan is for salary earner working in a reputable organisation, the maximum loan you can obtain in this loan product is #100,000. The loan is without collateral or guarantor.

NSCDC Loan
This loan is targeted at Nigerian Security Civil Defence Corps. The maximum loan you can obtain in this loan product is #500,000 and the minimum loan you can obtain is #50,000. This loan product is without collateral or guarantor

How to apply for petty cash loan

To apply for petty cash loan head over to their website and apply.
For loan product that requires collateral, you will need to visit their location

How much you can get from petty cash loan

With petty cash loan you can obtain between #5,000 to #5,000,000 loan depending on the type of loan product you aim for.

Interest rate of petty cash loan and repayment period

This also depend on the type of loan product, it is usually between 10% to 35% and the repayment period is between 1 month to a year

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

If It is collateral loan product like business loan and personal loan, your car will be forfeited, they will take your car away.

For salary earner loan your loan will be automatically deducted once the due date is reach, so there is no way to avoid paying back.

Is petty cash loan legit

Yes, the loan company has been existing for more than 3 years, they have given loan to many people in Nigeria.

Conclusion

Petty cash loan is not like your normal loan app, if you default they will not report you to credit bureau or send defamatory message to your contacts, they will just take your car away.

Do you like this article?

Feel free to share it

 

Advertising
Back to top button