Kashkash loan app is an online lending platform in Nigeria that provides quick and easy loans to individuals and small businesses. As one of the newest loan apps in the Nigerian market, Kashkash is quickly gaining popularity among borrowers looking for a reliable source of fast cash.
With its easy-to-use interface, flexible repayment terms, and competitive interest rates, Kashkash is changing how Nigerians access financing, making it easier to get the funds they need to achieve their goals.
In this article, we will explore the features and benefits of Kashkash, its eligibility requirements, and the loan application process.
About Kashkash Loan App
The Kashkash loan app is a mobile application that provides access to the services offered by the Kashkash loan platform. It is among the top-rated digital lending apps on the Google Play Store, launched on November 11, 2021.
With over one million downloads, the app has received five thousand reviews and has a download size of 6.5 MB with a 3.0 rating; the Kashkash loan app is designed with a user-friendly, easy-to-navigate interface accessible to the average Nigerian without requiring much assistance.
How Does KashKash Loan Work?
Kashkash is an online lending platform that offers personal loans through its mobile app. To apply for a loan, you must first download the app. Kashkash offers loans between N10,000 and N100,000 with no collateral or hassle. Repayment plans range from 91 days to 365 days with competitive interest rates.
Creditworthiness and integrity are fundamental principles of Kashkash’s loan process. Though loans are available to everyone, borrowers must demonstrate their ability to meet the terms and conditions without being pressured or pursued.
To borrow from Kashkash, meet the eligibility criteria, and accept the terms and conditions. We will discuss these requirements in detail later in this article.
How To Download Kashkash Loan App (APK)
The Kashkash loan app can be downloaded from the Google Play Store on Android devices. To download the app, follow these simple steps:
- Open the Google Play Store on your Android device.
- Type “Kashkash loan app” in the search bar and click the search icon.
- The Kashkash loan app will appear in the search results. Click on it.
- Click the “Install” button to download and install the app on your device.
- Once the installation is complete, open the app and follow the prompts to create an account and apply for a loan.
The app is orange with a “K” logo.
Kashkash Loan Requirements
To apply for a loan on the Kashkash platform, certain eligibility criteria and requirements must be met. These include:
- You must be a Nigerian citizen or resident with a valid means of identification.
- You must be at least 18 years old.
- You must have a verifiable source of income.
- You must have an active bank account linked to your BVN.
- It would help if you had a working smartphone with internet connectivity.
- You must have a good credit history and demonstrate creditworthiness and integrity.
In addition to these requirements, you must provide certain documents and information during the application process, such as your employment details, bank statements, and proof of identity.
The exact requirements may vary depending on the loan amount and repayment terms. It is advisable to check the Kashkash loan app for the most up-to-date information on the requirements for applying for a loan.
How to Apply for Kashkash Loan: A Complete Guide
To apply for a loan on the Kashkash platform, follow these simple steps:
- Download the Kashkash loan app from the Google Play Store and install it on your mobile device.
- Create an account on the app by providing your basic information and verifying your identity.
- Link your Bank Verification Number (BVN) and ATM card to your account by paying a verification fee of N50.
- Click on the menu bar and fill in the loan application form, ensuring you provide accurate information.
- Once you are satisfied with your application, submit it for review.
- The Kashkash software will review and approve your application if you meet the eligibility criteria.
- If your loan application is approved, your funds will be disbursed to your bank account within five minutes.
It is important to note that you must meet the requirements and accept the terms and conditions before applying for a loan on the Kashkash loan app. Also, ensure that you provide accurate information during the loan application process to avoid rejection.
How Much Can you Get from Kashkash Loan
The Kashkash loan platform offers a minimum loan amount of N10,000 and a maximum of N100,000. However, for first-time borrowers, the minimum loan amount is N5,000.
The credit limit increases when borrowers adhere to the terms and conditions of the loan app by repaying their loan on time.
Kashkash Loan Interest Rate
The Kashkash loan platform has a low-interest rate. The Annual Percentage Rate (APR) ranges from 12% to 34% per year, depending on the loan amount and repayment duration.
For example, if a borrower takes a loan of N12,000 for 180 days at an interest rate of 12%, the total interest payable would be NGN1440. The total repayment amount would be N13,440, including the principal and interest.
Kashkash Loan Repayment Plan
The repayment period of a Kashkash loan ranges from 91 days to 365 days, which is between three months and one year. Borrowers must repay their loans within the stipulated repayment duration to avoid penalties or default charges.
Benefits of Kashkash loan
Quick and Easy Access: With the Kashkash loan app, you can access loans quickly and easily without collateral or paperwork.
Low-Interest Rates: Kashkash offers relatively low-interest rates compared to other lending platforms in Nigeria.
Flexible Repayment Plans: You can choose a repayment plan that is convenient for you, with a repayment tenure of between 91 days to 365 days.
Increased Credit Limit: Your credit limit increases as you repay your loans on time, giving you access to higher loan amounts.
Disadvantages of Kashkash loan
Limited Loan Amount: The maximum loan amount you can access through Kashkash is N100,000, which may need more for some borrowers.
High Penalties for Late Payment: Failure to repay your loan on time attracts a high penalty fee of 0.1% of the loan amount per day.
Linking of BVN and ATM Card: To access loans on Kashkash, you have to link your BVN and ATM card, which some borrowers may find uncomfortable.
Limited Eligibility Criteria: Not everyone may be eligible to access loans on Kashkash due to the platform’s strict eligibility criteria.
KashKash Loan Customer Care Number and Contact Details
You can contact the Kashkash loan platform via any of the following;
Head office Address: NO. 62, Yala Abatan College Road, Ogba, Lagos, Nigeria.
Email: [email protected]
Phone Number: 018883539.
Frequently Asked Questions
Which Company Owns KashKash?
Grola Tech Credit Ltd is the company’s name that owns the Kashkash loan app.
Is KashKash Still Working?
Yes, the Kashkash loan is still working. You can download the app from Google Play Store and apply for a loan.
Is Kashkash Loan App Legit?
Yes. The Kashkash loan app is not a scam. You have to follow the app instructions to avoid any difficulty in getting or repaying a loan.
Bottom Line
Kashkash loan app is a reliable digital lending platform that offers individuals access to quick and convenient loans with minimal hassle. With an easy-to-use mobile app and a seamless loan application process, Kashkash stands out as one of Nigeria’s top digital lending platforms.
While the interest rates and repayment periods are relatively reasonable, it is important to carefully consider the terms and conditions of the loans and ensure that you can meet your repayment obligations. The Kashkash loan app is a viable option if you need quick cash.
