While searching for loan apps you can borrow from, you might have come across the Kashnow Loan App and wondered if it is safe to borrow from them and every other thing about the Kashnow Loan App.
However, this article got you covered, in this article, I will be writing everything about the Kashnow Loan App, its pros and cons, the documents required, how to get a loan from Kashnow, and other things.
So if you are interested in knowing more about the Kashnow Loan App, then you should consider reading this article till the end.
What is Kashnow Loan App
Kashnow is a mobile loan app that you can download, register, and apply for a loan and it is credited to your account within minutes if you qualify for the loan.
Kashnow as a company is a reliable loan institution that has been around for over 3 years now which shows how creditable and experienced they are in the business, however, they are not as popular as other loan apps like Palmr`edit and Fairmoney.
There are two different types of loans; one is available to everyone, but you must put up collateral in the form of assets.
The employee loan is the second. You can apply on their website or by phoning their USSD code, which will be delivered before the article’s conclusion. There are no documents or collateral required for this lending option.
How Kashnow Works
Kashnow works just like every other loan app and financial institution, with Kashnow, you can borrow money for emergencies and pay it back with a little interest.
However, unlike other loan apps that do not need collaterals, Kashnow is different because to get a certain amount, you will have to provide some collateral in terms of assert.
But then you can still get some loans without needing to use collateral, we already mentioned that they are two types of loans offered by Kashnow
How to Apply and Get a Loan from Kashnow
Below are the steps to take in applying for a loan from Kashnow
1. Using the website
You can apply for a loan on Kashnow by using their official Kashnow website. The process is simple and straightforward, on the site, click the application link and then follow the instruction to apply. You can go directly to the application portal using this link
2. Using USSD code
To apply for a loan on Kashnow using the USSD code, simply dial *5077# from your phone, and follow the on-screen instructions.
Benefits of Kashnow Loan App
Below are some of the benefits of the Kashnow loan app
- No documentation.
- No collateral.
- No guarantor
- Confidential process management
- Available 24/7
- Easy, convenient, and simple
- Instant cash disbursement
Documents Required for Kashnow Loan
No documents are required to get a loan from Kashnow, however, below are some of the other requirements you need to meet.
- If you want to apply for a job as an employee, you must have a salary account.
- You need to have a BVN number
- You shouldn’t have ever had a loan in default.
- Having a high credit score is more advantageous.
Kashnow Loan USSD Code
The Kashnow USSD code to get a loan is *5077#. just *5077# and follow the on-screen instruction to apply for a loan
Do You need to provide any collateral to kashnow?
Not really, except if you want to get a huge loan amount you may have to contact customer care to help you process the loan and tell you the required documents.
How do I payback my KashNow loan?
To pay back your loan with Kashnow, all you have to do is deposit money to your bank account at the said time, it will get debited because it is automatic.
Why was I unable to complete my loan request?
if your request was unable to complete a loan request, then below are the possible causes.
- Remita hasn’t processed your salary
- Your email is not valid
- Your details are not correct
- You have an existing loan under processing
Is Kashnow Loan App Legit?
Yes, Kashnow is actually very legit at the time of writing this article, however, the maximum amount you can get is just N50,000.
They have been in operation since 2019. They have lent money to numerous people. However, their lack of NDIC coverage and CBN endorsement is the sole problem, which is why we do not really vouch fully for them.
How much can you borrow with Kashnow Loan?
The amount you can borrow from Kashnow depends on various factors however the minimum money you can borrow is N10,000 and the maximum cash loan amount is N50,000.
So in summary, Kashnow loan is a trusted loan app in Nigeria that you can use to take urgent loans at your convenience and pay back when you have it.