You’ll be asked to tie your ATM card, which could result in a 30 dollars in fee. You must do this.
After registering, you will then be logged in to your dashboard
In your dashboard, locate the loan option and then click.
You will be able to see the how much loan you are eligible for
Click it and then wait for the payment to be made
How much can you loan from a cash-back credit
You can get up to 100,000 dollars from this loan application, however as a first-time borrower you are not allowed to get more than this. Your admissible loan is between 10,000 and 30,000.
As long as you continue to get loans from this app and repay it the loan on time the amount you can get will increase.
Interest rate for cash wallets and repayments time
The interest rate for cash wallets is between 5 and 25% based on the period of repayment in addition to the sum of loan obtained. the repayment period ranges from 6 days and 2 months. also depending in the sum of the loan.
As a first-time borrower you’ll get a higher interest rate as well as a shorter repayment time until you prove your worth by taking out a loan and then paying it back on time.
You can repay the loan by using an ATM credit card, or by transfer it to the bank account of the borrower. When you transfer funds, ensure that you have the correct account numbers to avoid stories that touch.
Log in to your dashboard
Find loan repayments and click it.
You will find deferent ways to repay the loan
Choose one, and then pay
After you have made your payment, it will appear on your dashboard, however If it doesn’t notify them, and inform them of the issue.
What happens If I fail to pay
If you default , you will be punished by an the increase in your interest rate. However, in the event that you decide not to pay the loan, your name BVN along with other data will be sent to credit bureaus to be listed as black that means you won’t be able to borrow another time within Nigeria.
Can cashwallet loans be considered legitimate?
Yes, they’re legit and they offer loans to individuals within Nigeria However, they are not licensed by CBN so be careful in obtaining loans from them.
Our review of the Cash Wallet Loan app
Cash wallet loans are legit They do offer loans. They are rated highly on Play Store but this is because of the lack of reviews.
They have around 350 reviews which is not much compared to the number of time the application is downloaded.
We can only say is that you should be careful when you take loans from this app for loans. Don’t take more than what you can repay.
We aren’t sure if they are sending defamatory messages to contracts with their customers as they’re brand relatively new.
Cash wallet will give you an immediate loans, but make sure you take a loans that you are able to pay back in order to avoid embarrassment. Also, be aware that they’re not licensed by CBN If anything happens to you, it will require time before CBN interferes.
Mr Olawale Olokede is a registered loan officer and worked for over 10 years as a senior financial consultant for accounting, finance and business management firms in Nigeria. Mr Olawale Olokede implemented and supervised financial and loan solution to Lagos based small and medium scale businesses after lecturing at the Lagos Business school. He is channeled his writing skills and passion for blogging to set up Lending Naija with over 50 reviews on different loan application and downloads.