Getting online loans has been one of the quickest and common way in solving small financial problems. As Nigerians, we need access to small loans in order to cater for our important needs but often don’t know where to find affordable financing.
Worry not and look no further, GoCash loan is here for you. GoCash can help provide you with emergency loans, farming loans, business loans, school fees loans and more. Another interesting thing about GoCash is they are quick and easy to access with just your mobile phone.
GoCash loan app gives you access to a whopping amount of up to ₦500,000 in loan without the need of a collateral of any kind. Unlike other loan apps, Go-cash loan has very nice features such as their nice interest rate, the safety, good repayment time periods, simple interface lastly, GoCash is user friendly.
In this article, We will take an in-depth look at GoCash Loan, requirements to qualify for a loan, how Go-cash works, and more.
What is GoCash Loan
GoCash loan is a Fin-tech company that specializes in giving out loans to Nigerians. You can collect a loan using your mobile phone without the need of any paperwork or collateral.
In other words, Any resident of any kind can get a loan instantly with GoCash without the need of a guarantor or collateral. With just few requirements, GoCash help provide easy and simple ways for Nigerians to collect loans with low-interest rates
GoCash loans can be assessable to Nigerians all over the country ranging from 5000 naira to 500,000 naira. As said earlier, the entire loan process can be completed using just your mobile phone.
GoCash offers flexible loan amounts and repayment tenors that can help take care of your specific needs and cash flow. GoCash loans provide affordable financing to salary workers, entrepreneurs, farmers, traders, students and all Nigerians with steady incomes.
Can I Get A Loan From GoCash?
Yes you can. GoCash loans are designed for a wide range of both employed and self-employed Nigerians which include:
- Salary workers in need of emergency funds or cash before payday.
- Traders and retailers in search of capital to buy inventories or goods.
- Business owners who need money to invest and grow their company or Businesses.
- Farmers requiring financial assistance for things like equipment, seeds, labor and more.
- Entrepreneurs who have new business ideas but don’t have sufficient capital to start.
- Students in need of tuition loans to pay school fees
- Families requiring extra money for events like weddings or funerals.
With the above list, Anyone with an income but insufficient funds for an urgent need can get a loan from GoCash. However, there are requirements required by GoCash in other to collect a loan. Let’s quickly take a look at that.
Requirements To Collect A Loan From GoCash.
Below are the requirements to qualify for a loan from GoCash
- A mobile Phone: This is the first and foremost step if you intend to borrow from GoCash. In other to use GoCash, Their app has to be installed on your device because the entire process will be done on your device. So having a mobile device is necessary.
- Location: You must be a resident of Nigeria in order to borrow from GoCash. In other words, GoCash is only for Nigerians.
- Bank account details: You will need an active bank account to be able to receive the loan disbursement from GoCash.
- Steady income: You need to have a regular source of income, whether from employment, business, trading, or farming. GoCash loans are only given to borrowers who have a stream of income. The reason for this is to enable GoCash analyze the amount you will be able to refund.
- Contacts: GoCash will ask for at least 2 contacts in order to confirm your identity and income, such as your employer, business partner, family member or close friend contact.
- Age: You must be between the age of 20–55 years old to qualify for a GoCash loan currently.
As long as you meet these requirements, you can get approved for an GoCash loan. The process is quicker through their mobile app.
GoCash interest rate, loan amounts and repayment periods.
Loan amounts on GoCash ranges from 5,000 naira to 500,000 naira. The maximum amount you can borrow depends on your income and repayment ability.
GoCash loan term is from 1 week to 12 months. You can choose the repayment period comfortable for you, and aligns with your cash flows.
GoCash Interest charged is from 4.5% to 34% flat rate. The interest charged is based on your loan repayment period. Higher loan amounts and longer repayment periods comes with higher interest.
There are no hidden fees or penalties. GoCash is transparent about their interest rates and terms.
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How To Get A Loan From GoCash
To get a loan from GoCash, follow the steps below:
Step 1: Download the App
Go to your Google Play or Apple App store and download the GoCash app on your device. Alternatively, you can visit their website too.
Step 2: Register/Sign Up
After you have successfully downloaded the app on your device, Sign up on GoCash by inputing your email.
Step 3: Apply for your Loan
Open the app and fill out the loan application form. This whole process takes about 5-10 minutes. Select the amount you want to borrow loan and the repayment time.
Step 4: Provide Bank Information
Bank information such as your BVN and account number will be required.
Step 5: Confirm Details
GoCash will contact either your employer, business partners, family or friends to confirm your identity, income streams, and all the details you have provided.
Step 6: Get Approved
If approved, the loan amount will be instantly sent to your connected bank account you provided.
The entire process from the application to the end can be completed quickly with the GoCash app using your phone.
Conclusion
GoCash provides an important source of mobile-based financing to those in need of emergency loans, school fees loans, farming loans, and business loans.
Undoubtedly, GoCash is one of the Instant loan apps in Nigerian that will give you a loan without a guarantor or collateral and is one of the top Fin-tech app for quick loans.
