Wekash loan app review; interest rate, is it legit - Startuppreneur
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Wekash loan app review; interest rate, is it legit

Wekash will give you instant loan in Nigeria without collateral or paper work. You don’t need to visit any location with just your phone and BVN you are good to go. With Wekash you can obtain up to #100,000 loan at a go.

Requirement to obtain loan from wekash

Below are the requirement you need to meet up with before you can obtain loan from wekash

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You should reside in Nigeria

Have account and BVN

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Have source of income

Have smart phone with which to download the app

You should be above 18 years of age

You should have good credit score

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You must not have defaulted on any loan before

How to apply for wekash loan

Head over to play store and download wekash loan app

Launch it and register with your name and other details

You will be ask to submit your BVN, do so

You will be ask to bind your ATM card which will attract #30 fee, do so

After the registration you will be login to your dashboard

On your dashboard locate and click on loan

There you will see amount of loan you are eligible for

Click it and wait for disbursement

It should not take more than 1 hour if everything is right

How much you can obtain from weksah loan

With wekash you can obtain up to #100,000 loan but as a first timer your loan will be in the range of #10,000 to #20,000. As you continue to use the app the loan amount will increase.

Wekash interest rate and repayment period
Wekash interest rate is between 10% to 25% depending on the amount of loan obtain and the repayment period. Repayment period is between 7 days to 2 months.

As a first timer you will be given high interest rate and short repayment period, as you continue to take loan and pay back this will improve.

Repaying your wekash loan

You can repay your wekash loan with ATM card or ask for their bank account number and transfer to it. When making transfer ensure you have their correct account number .

To pay back your loan, go to your dashboard

Locate and clock on repay loan

There you will see deferent option to pay back

Chose one and proceed

Once you make the payment it will reflect on your dashboard.

What will happen if I default

If you default, your interest rate will be increase by 2% until you payback but if you decide not to pay back at all they will send you name, BVN and other details to credit bureau 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 wekash koan legit

Yes they are legit, they really give out loan to people in Nigeria but they are not license by CBN nor insure by NDIC so take caution when taking loan from this loan app.

Our verdict on Wekash loan

It is true Wekash loan will give you instant loan in Nigeria. They have mix of negative and positive review on playstore and their interest rate is not that good. Take caution when taking loan from this loan app.

Conclusion

Above is how to obtain loan from Wekash, they do give loan to people but take caution when taking loan from this app, do not take more than you can pay back to avoid had I know.

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