GOCASH loan is a lending app that lets its users take out loans without stress. It is possible to borrow up to N300,000.00 using this app and pay it back later. GOCASH loan also offers longer loan terms and low interest rates.
This article will provide you with information in how to get the loan you need with GOCASH loan .
There’s an abundance of personal loan apps available in Nigeria. Many of them provide cash when you require the most, specifically during times of need. But borrowing from these applications can be difficult in the event that you aren’t able to pay it back by your due date. Certain GoCash loan customers have expressed being embarrassed and having their family members and friends have been contacted about the amount of debt they owe. Check out this GoCash customer’s feedback on Nairaland.
The process of borrowing funds at Commercial and Microfinance banks is lengthy, requiring lots of paperwork. Achieving the loans these institutions offer might not be feasible without collateral or the help of a guarantee.
But, the GOCASH loan needs none of this. All you have to download is the app and meet the prerequisites to apply.
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What is the GoCash loan app?
GoCash is an app for personal loans that provides flexible loans to Nigerians. The app offers loans that can be up to NGN 300,000. the fastest and most convenient online payment.
The app is simple to use thanks to its easy and user-friendly layout.
Benefits of using GOCASH
1.. You can get low-interest rates when you use GOCASH. It only charges an annual interest of 4.4 percent per month.
2. GOCASH lets its users take out loans and then pay them back in a few months.
You can get a loan in the amount of 300,000 N at GOCASH.
3. GOCASH does not require collateral or any guarantee. The only requirement is to supply the Bank Verification Number (BVN).
GOCASH loan requirements
To obtain loans from GOCASH you need to be able to meet a few conditions. These are described below.
- You must be in Nigeria.
- You must be between the age range of 20-55 years old.
GOCASH will also ask for specifics from you. These include:
- The account’s number.
- Your Bank Verification Number.
- Your telephone number.
GoCash Loan Advantages:
- Loan up to NGN 300,000
- Without any mortgage
- LLow-interest rate
- Long time repayment
- Quick and safe
How do I apply for Ga cash loan
Instantly get a loan in just five easy steps:
- Install and download the GOCASH application via Google Play Store. Play Store.
- Sign up for an account.
- Choose the item you’d like to apply to.
- Complete your basic details and then send the application.
- Transfer your loan directly to your bank account in just five minutes.
How much loan can you get from GOCASH?
After you have become a GOCASH user, you will be able to get an installment loan of up to N300,000 using the GOCASH application.
But, you may not be able to obtain the amount you need at the time of your initial request. To be able to borrow more money ensure that you adhere to the agreements and pay before the deadline.
GoCash interest rate?
Interest rates on GoCash Loans are a minimum of 0.1 percent and can go up to 1% per day.
Origination Fee: ranging from NGN 1,174 – NGN 6,600 for a single-time cost
Annual interest rates rrangefrom 36.5% up to 300%. It is determined daily.
For example, 91-day loan repayment terms include an initial fee of 39% as well as an interest rate of 2.7 percent. For a loan that is made with a principal of NGN 3,00 and the origination cost is NGN 1,174. The interest is NGN 81, and the total amount due is NGN 4,255.
The actual interest rate could be different from the above rates since the rates are calculated differently dependent on the borrower’s creditworthiness and score on edit.
The loan amount starts at a minimum of N3,000 up to a maximum of N200,000.
The loan term: the shortest is 91 days and the length is longer The loan terms you are offered could be considerably shorter since the individual loan terms are calculated by creditworthiness as well as credit scores.
Make sure you pay your loans on time or complete the Increase Limit tasks to increase your credit limit, in the end, decrease your interest rates.