The CASHNOW loan platform gives personal loans to individuals and businesses to help them start and grow their businesses. The Cashnow platform allows people to obtain large loans for different purposes.
Cashnow’s loan platform stands apart from many other loan platforms out there. This is because of the fast approval of loans on the platform, user-friendly app, and low-interest rate. In this article, we will discuss how to apply for Cashnow loan, the benefits of Cashnow loan and we will then conclude this article by answering some of the most frequently asked questions people have on this topic. Stay tuned.
Overview Of Cashnow Loan
Cashnow is among the newly introduced internet banking systems that allow you to apply for and obtain a loan from the platform without having to come physically.
There is no need for so much paperwork when applying for a loan on this platform. To be eligible, you have to make sure you meet the eligibility criteria before you apply.
The Cashnow loan platform gives personal loans to individuals, which can be for home renovation, data consolidation, or any other needs.
The Cashnow loan platform stands apart from many loan platforms out there because of its low-interest rates, and this low-interest rate loan is one of the primary reasons why most people opt for this loan platform.
The interest rate ranges from 0.5 to 5%, which depends on the amount of loan you wish to obtain from the platform. The Cashnow loan platform gives borrowers the liberty to choose repayment terms based on the repayment options available on the loan platform.
How CashNow Loan Platform Works
Every loan platform has a system that enables it to approve loans of individuals that merit it on the platform.
This means the Cashnow platform does not approve loans based on sentiment. Before your loan is approved, you must have met the requirements stated by the platform. However, if two people apply for the same loan amount under the same circumstances.
The Cashnow loan platform will give the loan to the most eligible. In cases where two people meet the eligibility criteria, the Cashnow loan platform will provide the loan to the one that applies first. This strategy and principles prevent biases and keep Cashnow’s loan platform far ahead of other loan platforms in the club.
The CashNow Loan App
To make it easier for more people to apply for the Cashnow loan, the platform designed a loan app. With this loan app, individuals can easily apply for a loan on this platform.
The loan app is not restricted to applying for a loan only. You can use the loan app for many other banking transactions, such as sending money to friends, receiving money, paying bills, buying data, and other essential banking transactions.
How To Download The Cashnow Loan App
To download the Cashnow loan app, follow the steps below
- Make sure you have data and a strong network connection
- Open your Google play store and search for the cashnow loan app
- It will pop up, click on download and afterward, install the app
- Open and sign in.
How To Be Eligible For Cash Now Loan
To be eligible for a Cashnow loan, make sure you meet the following loan requirements
- ✔️ 1 valid Emirates ID
- ✔️ 1 valid bank account
- ✔️ Age 20 – 55
- ✔️ UAE Resident
How To Apply For CashNow Loan
You can apply for a Cashnow loan through the website or the app. The best and most convenient way to apply for a Cashnow loan is through the app. To apply for the loan, follow the steps below;
- After you have downloaded and installed the app
- Please open it and sign up using your name and email
- You will be required to provide some of your details. Make sure that the details you provide at this point are the same as the details used in creating your bank account.
- A new tab will open. Click on apply for a loan
- You will be asked some crucial questions, such as; what you need the loan for
- After filling out the form, you can choose the loan repayment terms that suit you
- Then click on apply
- If you are eligible, your loan will be disbursed to your normal bank account in minutes.
Minimum And Maximum Amount
The minimum and maximum loan amount you can obtain from the platform ranges from AED 500 to up to AED 10,000 based on the product you select and your credit record with us
What Is CashNow Interest Rate?
The interest rate of the cash now loan platform is very affordable. This is how the interest rate is calculated. For example, the amount of AED 3,000.00 with a limit of 180 days. An interest rate of 25% / per year
The monthly payment is: AED 562.50
The amount of interest for the entire loan is: AED 375.00
The processing fee charged is: AED 150.00
The total payment is: AED 3,375.00
EIR is: 18.4215%
CashNow Repayment Term
91-180 days based on your budget and financial plan
Advantages Of Cashnow Loan
- No costs: This means you can apply for the loan for free.
- Reasonable prices amongst financial institutions.
- Price rebate for autopay.
- Unique attributes featuring price beat system and also contentment warranty.
Disadvantages Of CashNow Loan App
- No option to pre-qualify on its internet site.
- It needs numerous years of credit rating
How To Contact Cashnow Loan Platform
You can contact the cash now loan platform through the following means
- Customer Care:
- Email [email protected]
- WhatsApp 0097150-9783342
- Facebook @CashNow
- Address：2312, Addax Office Tower, Al Reem Island, Abu Dhabi, U.A.E
Frequently Asked Questions
How much loan can I get from CashNow?
you can obtain from 10,000 to 5,000,000 from the platform
How do I get a cashNow loan?
Step 1: Choose the amount and duration.
Step 2: Id verification.
Step 3: Add bank details. Or, better still, follow the step-by-step process in this article.
Conclusion
The CashNow loan app is reliable, and loan disbursement is easily made upon loan approval.
In this article, we have explained all you need to know about this loan app and to apply. Good luck!
