In the present day Nigeria, a loan has become something that many people can’t do without. With the rapidly increasing cost of living, it is not uncommon to see people seek access to loans that will help them meet one need or the other. This high demand gave rise to loan apps in Nigeria, which are best suited for the underbanked population who don’t have access to bank loans. As for mobile loan apps in Nigeria, NCash loan is one of the credit platforms that you can trust. Essentially, this platform is well known for providing people with loans of up to 100,000 Naira in less than 20 minutes.
An Overview of NCash Loan
NCash is an app that offers simple and no upfront fee digital loans in Nigeria. Established in 2021 to help the underbanked population in Nigeria, this online lender gives Nigerians access to loans of up to 100,000 Naira in less than 20 minutes with an interest rate of 14% per year. The NCash loan app has now reached thousands of downloads on Google Play Store.
~ Loan amount: 1,000 NGN – 100,000NGN
Loan term: 91 days – 120 days
>Maximum APR: 14%
Service fee: 0 and overdue fee:2.5%
Safe and reliable personal loan in Nigeria
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How Can I Apply for a NCash Loan?
To apply for and obtain an instant loan from NCash app, follow the four steps below:
1. First, start by downloading and installing the NCash mobile app to your smartphone from Google Play Store.
2. Next, sign up on the app by inputting your BVN number in the registration form. Thereafter, fill out the rest of your details.
3. Once your account is set, select the loan product you want to apply for.
4. Lastly, input your basic bank details, cross-check them to ensure that they are accurate, and then submit the loan application.
Give the platform some time to access your creditworthiness to ensure that you are eligible for the loan. If you are eligible for the loan amount you chose, the loan will be approved by the platform and paid to your bank account in less than 15 minutes.
What is the Interest Rate on NCash Loan?
The interest rate accrued on the loans you obtain from NCash varies between 0.1% to 1% daily, with a maximum APR of 14% and an overdue fee of 2.5%. As for the service fee, it comes at no cost.
Note that one significant factor that can affect the interest rate that your loan accrues is your credit score and creditworthiness. If you have a good credit score, your loan will not attract a high-interest rate.
Here’s a calculation of the interest rate to expect according to the NCash app on Google PlayStore:
“Interest calculation: Loan amount is 10,000 NGN and the term is 91 days. If you are 2 days overdue, the amount payable is 10,599NGN
Calculation-(10,000*14%/365*91+10,000+10,000*2.5%)”
What is the Loan amount on NCash?
The amount of loan you can borrow from this platform starts from a minimum amount of just 1,000 NGN to a maximum amount of 100,000 NGN. The amount of money you are eligible to borrow primarily depends on your creditworthiness. People with high credit ratings will be able to borrow more money than people with low credit ratings.
What is the Loan Tenor on NCash?
Generally, the loan term on this platform varies between 91 days – 120 days. However, as a new borrower, your loan tenor will be very short. Nonetheless, if you pay back the first loan you take on time, the platform will automatically increase your loan tenor for the next loan.
Is NCash legit or a scam?
The NCash loan platform m is legit and really offers loans to Nigerians in need, according to their reviews on Google PlayStore. However, note that the loan app will obtain the details of all your contacts when you download and apply for a loan through their app. You may be at risk of getting embarrassed if you fail to repay your loan.
How Can I Download the NCash Mobile App?
The NCash mobile app is only available on Google Play Store for now. So you need to own an Android device to access this app. To download this app, follow the instructions below:
1. First, find the Google Play Store app on your Android device and open the app.
2. Next, search for “NCash” on the Play Store app.
3. Download the mobile app then install it. Subsequently, you can create an account and borrow a loan.
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How Can I Contact NCash?
You can reach out to this platform through any of the following ways:
Office Address: Lateef Jakande Road, Ogba, Ikeja, Lagos, Nigeria
Email Address: customercare@Ncash.com
Website: www.9ncash.tech
Bottom Line
According to reviews online, it is safe to say that the NCash app is legit and really disburses loans to Nigerians in need depending on their creditworthiness. If you want to get the best from this platform, it is best to build their trust by borrowing loans and paying back on time. Lastly, note that using this platform means that you don’t mind them obtaining information about all the contacts on your phone. So endeavour to pay back your loan on time to avoid facing harsh penalties.
