In the hustle and bustle of life, unexpected financial needs can arise when you least expect them. That’s where Fast Cash Loan App comes to the rescue. If you’re in Nigeria and find yourself in need of quick and emergency funds, this app is designed with you in mind.
In this comprehensive guide, we’ll provide you with all the essential details you need to know about Fast Cash loans, from interest rates to requirements, application processes, safety measures, and more.
Understanding Fast Cash Interest Rates
When considering any loan, one of the first things you’ll want to know is the interest rate. Fast Cash offers loans ranging from NGN 5,000 to NGN 100,000, with loan terms that can vary from 91 to 180 days. The Annual Percentage Rate (APR) on these loans falls between 25% and 36% per year.
However, it’s important to note that interest rates can change over time, so it’s always wise to confirm the interest rate on any loan offer before accepting it.
Representative Loan Example
To better grasp how the interest works, let’s break it down with a representative example. Suppose you borrow ₦15,000 with a repayment period of 180 days. The total interest you must pay can be calculated as follows:
- Total interest: ₦15,000 * 35.04% / 365 * 180 = ₦2,592
- Total repayment including principal and interest: ₦15,000 + ₦2,592 = ₦17,592
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Fast Cash Loan Requirements
Fast Cash loans are tailored for Nigerian citizens between the ages of 20 and 55. To be eligible for a Fast Cash loan, you’ll need to meet the following requirements:
- Minimum Age: You must be at least 20 years old.
- Nigerian Citizenship: You should be a Nigerian citizen.
- BVN (Bank Verification Number): Although not explicitly mentioned in the article, having a BVN is a common requirement for loan applications in Nigeria.
- Source of Income: While not specified in the article, lenders typically require proof of a stable source of income.
- Bank Account: You’ll need an active bank account where your loan can be disbursed.
How to Apply for a Fast Cash Loan
Getting a Fast Cash loan is a straightforward process. Here’s a step-by-step guide to help you through it:
- Download the Fast Cash App: Head to the Google Play Store and download the official Fast Cash app.
- Create an Account: Sign up using your phone number to receive a One-Time Password (OTP) for verification.
- Fill out the Application: Complete the application form with accurate information and submit it.
- Choose Your Product: Select the loan product you wish to apply for.
- Profile Approval: Wait for your profile to be approved.
- Loan Disbursement: Once your profile is approved, your loan will be disbursed directly into your bank account.
Download the Fast Cash App Safely
When downloading the Fast Cash app, always ensure you get it from the official Google Play Store. Avoid downloading loan apps from unofficial sources, as they may pose security risks to your personal information and device.
Fast Cash Customer Care
If you have any questions or need assistance regarding Fast Cash loans, you can reach out to their customer care team using the following contact details:
- Email: [email protected]
- Address: 15, Omotayo Ojo Street, Off Allen Avenue, Lagos.
Please note that contact details may change, so it’s advisable to check for updates within the Fast Cash app.
Is Fast Cash Legit?
Yes, Fast Cash prioritizes its customers’ trust by providing secure and reliable financial services and its not a scam. They adhere to standard security and privacy protocols, ensuring the protection of customer data. However, it’s essential to stay informed and exercise caution when dealing with any financial service provider, as circumstances can change. Always keep your financial security as a top priority.
In conclusion, Fast Cash loans offer a convenient solution for quick and emergency funds in Nigeria. By understanding the interest rates, meeting the requirements, following the application process, and exercising caution, you can make the most of this service while safeguarding your financial well-being.