Is Kwikpeso Loan App Legit Or Scam? Reviews, Customer Care Number

It’s important to know you’re working with a reputable lender when you borrow money through a mobile app. If you’re thinking about using the Kwikpeso Loan app, you might be wondering if it’s real and what the interest rates are like. In this piece, we’ll talk about whether or not the Kwikpeso Loan app is a scam and what you need to know about its interest rates.

Let’s start with the most important things. The Kwikpeso Loan app is a mobile app that makes it easy and quick for people to ask for loans. It says it has low interest rates and open payment plans, which make it a good choice for people who need cash quickly.

So, is the Kwikpeso Loan app a scam or not? After doing a lot of study, we can say that the Kwikpeso Loan app is a real way to borrow money. It is listed with Nigeria’s Corporate Affairs Commission (CAC) and runs in accordance with all laws and rules.

Also, the Kwikpeso Loan app has gotten good reviews on different sites, such as the Google Play Store. Many people who have borrowed money have said that the app was easy to use and that customer service was helpful.

But it’s important to remember that the Kwikpeso Loan app has some problems. Borrowers often say that the app’s interest rates, which can be as high as 15% per month, are too high. Some borrowers may find it hard to pay back their loans on time, which can lead to extra fees and fines.

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When it comes to customer service, the Kwikpeso Loan app gives people several ways to reach out. These include a phone number, an email address, and a chat feature right inside the app. On the app’s website and in the app itself, users can also find solutions to questions that are often asked.

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So, is the Kwikpeso Loan app a scam or not? After doing a lot of study, we can say that the Kwikpeso Loan app is a real way to borrow money. Over 100,000 people have got it from the Google Play Store, which shows that it has a large number of users. Also, many users have given it good reviews, praising how easy it is to sign up and how helpful the customer service is.

But it’s important to remember that not every review of the app is good. Some customers have complained about high interest rates, secret fees, and trouble getting in touch with the customer service team. Symantec, an online security company, looked at the app and found that some people have marked it as possibly dangerous.

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Some features of Kwikpeso

Avail instant loans from Prime Loan through your smartphone.
Faster approval process with less documentation
Get collateral-free loans without any bank visits or phone calls
Attractive rate of interests
Loan disbursement in 10 minutes

IS KWIKPESO LOAN APP LEGIT OR SCAM

Kwikpeso loan app is legit and genuine. Many people have been using it to get instant loans. If you notice any irregular transaction contact Kwikpeso customer service.

IS KWIKPESO LOAN APP SAFE

Kwikpeso app is very safe and secured. All your information are protected, privacy is guaranteed and transactions are secured.

KWIKPESO LOAN INTEREST RATE

Loan Amounts: PHP 1,000 – PHP 50,000

Monthly facilitation fee: 9% – 25%

APR: 27% – 260%

For example, for a 65-days loan with a principal amount of PHP 1,000 the facilitation fee would be PHP 250 and the total payable amount would be PHP 1,250

Minimum repayment period is 65 days while the maximum repayment period is 120 days, with a minimum APR is 27% while the maximum APR is 260%

Kwikpeso does not charge more than the amount of the facilitation fee (plus a one-time late fee if you do not pay after the loan repayment grace period). The loan amount does not compound or accrue.

Sample Loan Nigeria:

Loan Amount 1000 Naira

Interest Calculation – (1000 * 25) / 100 = NGN250

Expected Payback amount for 65 days – NGN 1000 + 250 = NGN 1250

Monthly Payment – NGN 625

HOW MUCH CAN I BORROW FROM KWIKPESO LOAN APP

You can borrow between 5000 naira to 1,000,000 naira

REQUIREMENTS TO GET A LOAN FROM KWIKPESO LOAN APP

To get a loan from Kwikpeso app:

You must reside in Nigeria
You must have a BVN
You must have a source of income
You must be between 22 to 55 years

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The minimum documents required to avail loan is your identification number, mobile number, your email address etc. might be required. Once you apply for loans, we will check you in a few minutes.

HOW TO APPLY FOR LOAN ON KWIKPESO LOAN APP

To borrow money from Kwikpeso app:

Download Kwikpeso loan app
Register with your correct details
Request for a loan
Get the loan

HOW LONG DOES IT TAKE KWIKPESO LOAN APP TO GIVE A LOAN

It takes few minutes to hours depending on the amount.

HOW TO REPAY KWIKPESO LOAN

Simply login to the Kwikpeso app, go to the repayment option, choose a repayment method you are okay with to repay the loan.

KWIKPESO LOAN CUSTOMER CARE

They can be reached at: [email protected]

Conclusion

Even though the Kwikpeso Loan app is a legal way to borrow money, you should be careful when using it. Before you agree to a loan, read and understand the terms and conditions carefully to make sure you know about all fees and fines.

Also, don’t borrow more than you can pay back, because not doing so can have serious financial effects. Be aware that the interest rates charged by the Kwikpeso Loan app could be high, and make sure you’re okay with the terms of the loan before you agree to it.