Cashpaddie is a lending app that focuses on Nigeria and offers quick loans to individuals with no collateral or papers and you don’t have to leave your place You can request the loan by submitting your photograph. Cashpaddie allows you to get up to 50,000 in loan in a single application.
Table of Contents
The loan application must be approved by the cashpaddie loan app
Before you can get a cashppadie loan, you must to meet certain certification requirements. These are
Reside in Nigeria
Have a good credit score.
Have a bank account and BVN
Are you able to earn a living?
Have at least 18 years old
You must have a smart phone to download the application
How to apply for a cashpaddie loan
Visit the Play Store and download the app cashppadie
Sign up with your name, your bvn, and other information
You’ll need to tie your ATM card, which will cost you $ 30
After registering, you will then be logged in to your dashboard
In your dashboard, search for loan and click it
There is a list of the what amount of loans you are eligible for
Just click it and wait for the disbursement
What amount can you borrow through the cashpaddie loan app
In the introduction, you can avail up to $50,000 with a Airbrush or other paper document, but as a first-time borrower, the loan won’t be granted until you prove yourself by taking a loan and repaying it in time.
The interest rate on the Cashpaddie loan and repayment term
The interest rate for cashpaddies ranges between 12% and 25%, based on the amount borrowed. The repayment term is 7 days to 90 days. and also depends on the amount you borrowed.
How can you pay back the cashpaddie loan
To pay back your loan, head towards your dashboard
Click on the Repayment of loan
There are deferred ways to repay the loan
Make a payment by clicking on one of them.
After you have made your payment the transaction will appear on your dashboard. If it doesn’t, you need to get in touch with them.
What happens If I fail to pay
If you fail to pay, you’ll be penalized with an increasing the interest rate, which is typically 2percent. If you decide not to pay any time soon, they may forward your bvn’s information to a credit bureaus, which means that you won’t be able to get a loan from Nigeria until you have paid back the loan.
Is cashpaddie loan legit
Yes , the app for loans is genuine, they’ve granted loans to a number of individuals in Nigeria However, as of the moment of writing this article they have not been licensed by CBN or insured by NDIC.
You must be cautious when borrowing money from them.
Our verdict on cashpaddie loan app
They have a positive review and a good rating on the play store however this could have been due to the lower amount of reviewers. Either way, we’ll find out what they’ll become in the next few days. One issue they face is that they do not have a licensed by CBN.
Conclusion
This is all you must know about the cashpadie’s loan app. They will give loans to individuals, but only take loans which you are able to repay in order to avoid embarrassment . Also, be aware that they don’t have authorized by CBN they have the ability to make and reverse.