Mota cash loan app is one the loan apps that provide instant loans in Nigeria Their loan processing is extremely fast.
With your smart phone , you’re in good shape. With smart cash loan , you can get up to $100,000 loan with no collateral or paperwork.
Table of Contents
To obtain a moca cash loan
Before you can apply for a the mota cash loan, you have to meet some of their requirements. These are
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
If you have met this requirement , the next step is to submit an application for the loan.
How do I make an application for Mota cash loan
First, go to the play store to download and install the lending application
Sign up with your name and other information
It will ask you to bring along your ATM card that could show #30. Bring it and continue
After you have completed your registration, you’ll be logged in to your dashboard.
Click on the dashboard to Ioan
You will be able to see the how much loan you can qualify for.
You can accept the offer and then be patient until the money is paid.
How much can you expect to receive by obtaining Mota cash loan
The Mota Cash Loan is one of the fresh loan app . The highest amount you can receive from them as of this post is $100,000, however as a new borrower you could be granted up to that amount, however, as you continue to use the loan and pay back as you go, the amount you are able to get will grow.
Mota cash loan rate of interest and repayment time
Their interest rate ranges from 5 to 10%, and their repayment term is 7 days to three months. All of this depends on the amount of loan they you are able to.
When you first start using the app, the interest rate you pay will be high, and your repayment time frame is short. As you use the app, this will increase.
In return, you must pay back you Mota cash loan
To pay off your loan make sure you are on your dashboard
Click on the Repayment of loan
There are a number of options for repaying your loan.
Click on the link and make the payment
When you pay, it will be reflected on your dashboard
If it doesn’t, the correct information, contact them.
What happens If I fail to pay
If you fail to pay, you’ll be penalized by increasing the interest rate. If you do not make any repayments your name along with your bvn number and other details will be submitted to the credit bureaus for black listing. This means you won’t be able to obtain a loan from the same lender within Nigeria until you have paid off your debt and clean your name with the credit bureau.
Is Mota cash loan legit
Yes, Mota cash loan legit
They can provide you with loans in Nigeria However, they do not licensed by CBN therefore be cautious when you take a loan from them.
Our take about Mota application for cash loans
Mota cash loan application is legitimate and has both positive and negative reviews on the Play store. They’ll surely provide you with money, but as they do not have the license of CBN I would advise that you exercise caution in obtaining a loan from them.
Mota Cash Loan App can certainly provide the loan you need in Nigeria However, do not get a loan that you cannot repay, and try to avoid embarrassment. I known.
Additionally, since they do not have a licensed by CBN If anything goes wrong, it could take a while before CBN will intervene.