Wecash loan app: is it legit, how to apply interest rate - Startuppreneur

Wecash loan app: is it legit, how to apply interest rate

Wecash is another loan app in Nigeria where you can obtain insecure loan. You don’t need collateral or guarantor before you will obtain this loan. Their loan processing is very fast within 1 hour of submitting application your loan will be disburse.

You don’t need to visit any location, everything will be done on your smart phone. With this loan app you can obtain up to #100,000 loan at a go.


Requiemmt to obtain loan form wecash loan app

Before you can obtain loan from this app there are requirement you need meet up with, they are

Have good credit score


Have bvn and bank account

Be above 18 years of age

Have source if income

Have smart phone with which to download the loan app


Once you meet up with these requirement you can go ahead and obtain the loan

How to apply for wecash loan app

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 wecash loan app

With wecash loan app you can obtain up to #100,000 without collateral or paper work, but as first timer, you will not be able to obtain up to this, your eligible loan will be around #30,000.

As you continue to take loan and pay back on time the amount you can obtain will increase.

Wecash loan Interest rate and repayment period

Their interest rate is between 5% to 20% depending on the amount of loan obtain and the repayment period.

The repayment period is between 7 days to 90 days also depend on the amount of loan obtain. As a first timer you will be giving high interest rate and short repayment period. As you continue to use the app, this will improve.

Paying back your wecash loan

To payback your loan head over to your dashboard

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 wecash loan legit

Yes, wecash loan is legit they surely give you loan though they are not license by CBN.

Our final verdict on wecash loan app

Wecash loan app we surely give you loan. They have good review on play store which shows that are legit loan app.

They don’t send defamatory message to their customer contacts which is a good thing but they surely know how to take their money back.

Since they are not license by CBN, I will advice you to exercise caution when taking loan from them. Do not take more than you can pay back.


Wecash loan is legit, they will give you loan but ensure you pay back to avoid embarrassment. Beside that too much of loan is bad.

Do you like this article?
Feel free to share it



Back to top button