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Home Loan CashAce loan app: how to apply and is it legit

CashAce loan app: how to apply and is it legit

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CashAce loan app is another loan application in Nigeria which provides instant loans without collateral or paper documents Their loan is classified as an insecure loan.

The loan process is quick after your application has been approved, you will get your debit card funded within minutes. You don’t have to go to any spot to receive the loan. With a smartphone and you’re ready to go.

CashAce loan app
CashAce loan app

The requirements to get a CashAce loan

Before you can get a the loan through this application, there are a few conditions that you have to meet with. These requirements are

Have a bank account and Bvn.

Reside in Nigeria.

Are you able to earn a living?

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Have a minimum of the age of 28.
A smart phone that allows you to download the application

How do I make an application for CashAce loan application

First, go to the play store then download the borrow application

Sign up with your name and BVN and any other information

You will be asked to tie your ATM card that could be attracting #30. Do this and then proceed

After registration, you will then be logged in to your dashboard

On your dashboard , look for the”loan” and click it .

You will then see the how much loan you are eligible to get

Accept the offer and then sit back to wait for payment

What amount can you get from the CashAce loan app

The app CashAce Laon is brand new The maximum amount you can get via this app is 50,000.

If you are a first-time user, you could not be able to get more than 20,000, but this number will grow when you keep using the application.

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Interest rate for CashAce loans and repayment time

The CashAce loan’s interest rate is between 5% and 10 percent per month. The repayment term is 7 days and 180 days.

For a first-timer, the rates of interest will be very excessive and the time to repay is limited until you prove you are a responsible borrower by making regular payments to your loan.

Paying back your CashAce Loan application

To repay your loan that you have heard about on your dashboard

You will be presented with a deferred option to repay the loan

Click on one to pay

When you pay, it will show on your dashboard. It does not call them.

What happens If I fail to pay

If you fail to pay, you’ll be penalized by an increasing the interest rate, which could be as high as 22%. And if you choose not to repay in any way, your name BVN as well as other information will be sent to the credit bureaus for black listing that means you won’t be able to borrow another time within Nigeria until you’ve paid back the loan and have cleared your name with the credit bureau.

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Is CashAce loan legit

Yes, CashAce loan is legitimate and they’ll offer you a loan, but they aren’t licensed by CBN nor insured by NDIC so be careful when you take a loan from them.

Our opinion on CashAce loan application

CashAce Loan App is a genuine loan app and they’ll surely offer you a loan. They have a good rating on Play Store as of the moment of writing this review, however they do not licensed by CBN so be careful don’t borrow more than what you can repay.


As you will observe, CashAce loan application will grant you a loan instantly in Nigeria however, don’t get a loan that you are unable to not pay back. Try to avoid embarrassment, and I had.

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