Cashdey loan is one of the best online loan and banking platforms. By banking, we mean you can save money on the Cashdey app. The Cashdey loan platform is known among the citizens of the country. This is because of the fast and stress-free service they offer to a customer, low interaction rate, no collateral needed for the application, and fast disbursement of loans to individuals’ standard accounts.
We will discuss in-depth on cashdey loan platform, what makes the loan platform unique, and how to be eligible to apply for a loan on the platform. We will then conclude this article by answering some of the most frequently asked questions people have on this topic. Stay tuned.
Overview Of Cashdey Loan Platform
The cashdey loan platform is an online financial platform that offers loans to medium-sized businesses and individuals who wish to start, scale, or grow their businesses. Over the years, the cashdey loan platform has gained popularity among Nigerians, which can be attributed to the nature of services offered by the platform.
The online loan platform is well known for offering fast services, low-interest rates, and no collateral needed to obtain a loan from the platform. One of the things that helped to make the cashdey loan platform exceptional is the compartmentalization of loans which makes it easy for anyone in the country to access loans from the platform. In addition, the loans are grouped with the repayment terms and interest rates, which makes it easy and efficient for individuals to apply.
How Cashdey Loan Platform Works
Every online loan platform has a way it works and the principles by which it gives loans to individuals. In the case of the cashdey loan platform, the platform works on the principle of first come, first served, and the most eligible for the loan.
Download the app from Play Store and proceed to open an account with CashDey.
Cashdey Loan App
To make the process easy for individuals, the cashdey loan platform developed a loan app that allows individuals to access a loan on the platform.
With the loan app, you can easily apply for a loan on the platform. Not only that, you can equally perform so many other banking transactions such as payment of bills, payment of electricity bills, transfer of money, and other necessary fees. Also, you can even use the loan app as an online bank to save money, transfer money and use it in case of emergency.
How To Download The CashDey Loan App
To quickly download the Cashdey loan app without stress, follow the steps below
- Make sure you have a strong data connection
- Open your Google play store app and search for the cashdey loan app
- Click on the loan app and click on the download
- After downloading the app, install and open the app to run.
Eligibility Requirements For Cashdey Loan
To be eligible for the cashdey loan, you must meet the following eligibility criteria
- You must be a citizen of the country
- You must be above the age of 18, and you must not be above 60
- You will be required to submit some of your essential details, of which the most important is your BVN. Your BVN is used to check your creditworthiness score to know if you’re eligible for the loan you want from the platform.
- You must state your reasons for obtaining a loan on the platform. This is very important, so make sure you are specific and straight to the point.
How To Apply For A CashDey Loan
Follow the steps below to apply for the cashdey loan
- After downloading and installing your loan app, open it to run
- Sign up and create an account; provide the necessary details correctly when signing up
- Afterward, you will be required to fund the loan app for the first time, and this will enable you to obtain a loan from the platform easily
- Click on Apply for a loan
- You will be required to provide some of your private details, most especially your BVN.
- You will also be required to state why you need the loan, be specific when stating this reason, and go straight to the point.
- Select the loan category you wish to apply, then click on apply
- If and when successful, the loan will be disbursed to your standard bank account in minutes
Minimum and Maximum CashDey Loan Amount
The minimum amount of loan you can obtain from the platform is N10,000, and the maximum amount of loan is N100,000.
CashDey Interest Rate
The annual interest rate of CashDey loans ranges from 12% to 24%.
Interest rate as low as 12% APR. If you choose, an amount of NGN5,000 and the terms are 180 days, the total interest should be NGN5,000×12%=NGN600. The total repayment amount would be NGN5,000+ NGN5,000×12%= NGN5,600.
CashDey Repayment Term
The repayment term ranges from 91 to 365 days. However, you can choose how you wish to repay the loan conveniently.
Advantages Of Cashdey Loan Platform
- Fast disbursement of loan
- No collateral required
- Flexible repayment plan
- Loans are divided into categories which makes it easy to apply to
- Low-interest rate
Disadvantages Of Cashdey Loan Platform
- You must have a high credit score to be eligible to apply for this loan
How To Contact Cashdey Loan
- Service Email: firstname.lastname@example.org.
- Our Office Address: 27-21 Layi Oyekanmi St., Mushin 102215, Lagos, Nigeria
Frequently Asked Questions
Is CashDey A Legit Loan App?
At the time of writing this article, CashDey seems to be a reliable loan app.
Can I Apply without collateral?
Yes, you can apply for the cashdey loan platform without collateral
Can I Apply If I’m owing any loan platform?
No, you can’t. Owing any loan platform will lower your creditworthiness score, making you unable to apply.
In summary, Cashdey is a user-friendly loan app with fast processing times and flexible repayment plans. Its advanced security measures ensure borrowers’ information and finances are secure. It’s a reliable and convenient option for those needing financial assistance.