Another loan provider is Kashnow loans. Nigeria that provides loans to both individuals and employees. For loans for employees, you do not need collateral or paperwork. Just make sure your salary has received with remitta and your account will be paid
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What exactly is a kashnow loan
Kashnow loan is a loan business which has been operating for more than 3 years. There are two kinds of loans, one that is geared towards all types of people however, you must secure it with assets that is collateral.
The second one is the employee loan. In this loan option, there is no collateral or papers You can apply on their website or by dialing their USSD code that will be provided prior to the end of the article.
Need to apply for loan through Kashnow loan
Here are the criteria you must comply with.
You must have a salary account in case you’re applying as an employee
It is recommended to get Bvn
You shouldn’t be in default on any loan prior to
It is recommended to have a high credit scores
How do I apply for a Kashnow loan
There are two methods to apply for this loan.
Go to their site
It is the first thing to visit their website. There you will find a loan option click on it. It will bring you to a webpage where you can sign in. Follow the steps and apply for a loan.
Dial the ussd code
This is intended for applicants for an employee loan
Call *5077# from your phone, and follow the prompts
Verify that the sim’s connection is to your bank account for salary
What amount can you get from cashnow loans
As an employee, the lowest you can receive is 5,000 and the highest you can receive is #50,000.
Although it’s not much, kashnow make it known that you are able to apply more than one time. With a loan to back your asset, you can apply for as much as your assets can pay for.
Kashnow rates of interest and repayment time
Their interest rates are between 2 to 30% dependent on the size of loan you wish to get.
The repayment period is one month. Once you get your paycheck, the funds will be automatically debited.
Repaying cashnow loan
As previously mentioned the loan period is one month. Therefore, you don’t need to fumble around trying to repay it when your pay check arrives. The loan. The loan will automatically taken off.
Do you think that kashnow is a legitimate loan
They are legitimate They are in operation since the year 2019. Many people have received loans from them. However, the only issue is that they aren’t covered by NDIC and are not endorsed by CBN.