HOW TO GET A LOAN ON GOCASH

HOW TO GET A LOAN ON GOCASH

A loan is part of the survival method many Nigerians have considered in purchasing some valuable and expensive materials. Salaries or incomes might not be able to stand some immediate needs. This and several reasons are why individuals considered taking loans from institutions.
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GOCASH offers loans with ease and has a bearable interest rate. You won’t borrow a loan and almost die of worry because of paying it back in folds. Gocash has made borrowing loans easy, safe, quick, and with a reasonable interest rate. You can borrow up to #300,000 on the platform and pay back in bits over a couple of months.
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HOW TO GET LOAN ON GOCASH

Getting a loan on the Xcredit platform requires some procedures to achieve it.

  • Install GOCASH mobile app on your phone. You can Download the GOCASH mobile from the Google Play Store and install it on your phone. It’s not available in the IOS version, only on android. There is also no web version of the app.
  • Launch the GOCASH mobile app on your phone and register an account with GOCASH. You would be asked to fill in some personal information in the process.
  • Select the amount you wish to loan.
  • Fill in the information that is displayed after clicking the amount you want to borrow.
  • Your application would be reviewed and approved if qualified. Then you would receive the amount of loan requested in your bank account.

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GOCASH OFFERS

Low Interest

Only a 4.4% interest rate is charged monthly. The interest charged in 6 months is just 26.4% of the amount borrowed.

Gocash gives up to #300,000 loan to customers. Though, new members may not have access to some amount until they have patronized and made repayment of loans formally borrowed.

No guarantor policy

Several institutions that grant loans would never consider an individual for a loan without one or two guarantors. In some cases, they grant loans to the individual ready to hand over valuable goods as collateral.

GOCASH is simple and easy. All you need to do is to download the app, register, and your loan application.

Repayment Period

You have a long period to invest with loans or use it out to carry out a purpose and then pay back gradually. GOCASH believes loans are not supposed to burden individuals, instead, they should relieve them. You have up to a year from the day the money was disbursed to complete your payment.

REQUIREMENTS TO GET LOAN

  • Be a resident in Nigeria. GOCASH is based in Nigeria and would not offer loans to people living in the diaspora.
  • You must be at least 22 years old. The maximum age limit is 55 years old. People in this age range are qualified for the loan.
  • You would be required to drop your Bank Verification Number (BVN)
  • Your account details will also be needed. To receive money.
  • Your phone number. You will get messages from GOCASH updating you on your loan application and the approval.

REPAYMENT OF LOAN ON GOCASH

The amount is calculated by the loan term. The length of the period of payment would determine the interest that would be charged on the amount borrowed.

GOCASH charges an interest rate of 4.4% of the amount borrowed every month. The interest rate will total 26.4% in six months. And a loan of a year will have an interest rate of 52.8%.

The amount to be repaid on GOCASH is the interest plus the amount borrowed. An example is if #100,000 naira is the loan. In 6 months the interest is 26.4%, which is #26,400. Loan #100,000 + Interest # 26,400 = Repayment 126,400.

Repayment takes place within 91 days to 365 days which is a year.

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HOW MUCH LOAN CAN GOCASH GIVE TO INDIVIDUALS?

GOCASH gives from #5000 loan to #300,000 naira. New members might not be able to have access to the peak amount on the loan list. The more an individual requests loans and payback, the higher the chances of getting a higher loan.

What also influences having access to higher loans is making repayment before or on deadlines. It will show the level of commitment to agreement of the individual and make GOCASH commit more funds into such a person.

HOW LONG DOES IT TAKE TO PAYBACK?

The length of a loan has a long way in affecting the repayment of that loan. Different platforms

have varying numbers of days, weeks, months, or years before a payment is completed.

The shorter the period of the loan, the more it becomes unbearable for the individual to make the repayment. GOCASH, unlike other platforms, offers a long span before repayment. Starting from 3 months to 12 months. It gives enough time for individuals to repay.

GOCASH HEAD OFFICE

The head office is in Nigeria. Venia Business Hub, plot 8, providence street, Lekki Phase 1, Lagos State Nigeria.

CUSTOMER CARE

In case you have a question or need an inquiry about the platform you can send an email to Gocash. Furthermore, you can speak to one of their agents on 07064903868.

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