This article will help you on how to borrow money from kuda app without stress and give you the best way to go about it.
Kuda Bank is one of the most popular bank apps in Nigeria right now. Kuda Bank app is an online-only bank that appeals to a large number of youths in Nigeria.
Kuda Bank also has many other features that make it an excellent alternative to traditional banking systems in Nigeria. It is without a doubt one of the best fintech companies in Nigeria. Kuda is an online bank that does not require users to visit physical banks in order to transact or resolve any problems.
This is because of the stress that people experience in banks. People may feel stressed by long queues that can waste time and prevent them from achieving their goals of going to the bank. We will explore Kuda Bank’s unique features and how they can be a great alternative to traditional banking.
Below are the steps on how to borrow money from kuda, carefully follow them and it should be easy for you.
Table of Contents
How to apply for a Kuda Bank loan
Kuda Bank’s Overdraft makes it possible to get short-term loans online with no paperwork. You can also choose to repay at any time by paying 0.3% per day interest. How to apply for Kuda Bank’s overdraft
Use the Kuda app to access your borrowed account.
Click here to borrow
Click on Get Your Overdraft.
Click on the button to enter the amount that you wish to borrow.
Verify your transaction PIN or face ID.
Click OK and your account will be open for spending.
Kuda Overdrafts can be money borrowed for a brief period to address urgent matters. Kuda Bank refers to Kuda Overdraft as a “short-term loan”.
This is not a loan you need to request before it can be disbursed. However, the process is automated and is called “Overdrafts” rather than technically “loan”.
How Kuda Overdrafts work
If you have N50,000 in your Kuda Bank and need to pay N100,000. You can withdraw N100,000. Your account will then be -50,000.
It is the process of borrowing data or airtime from MTN to meet your urgent needs. Before you can borrow, you don’t have to visit any MTN office or complete any forms. You can borrow any SIM on MTN and pay for your next recharge once you are a regular user.
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.