March 24, 2023
FastCash Loan App Review - How to Download APK and Request FastCash loan?

FastCash Loan App Review - How to Download APK and Request FastCash loan?

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FastCash Loan App Review – FastCash is a Nigerian loan app that helps you get a personal loan fast in case there is an urgent need. The app has over 100,000 downloads on the Play Store and uses lending software to collect potential customer information including phone records, bank transaction alerts, BVN to create each borrower’s credit score.

To qualify for a loan or higher, make sure you keep good banking messages on your phone and don’t have outstanding debts with other loan apps!

The app is simple, just download the app from the Google Play Store, provide information about yourself, the algorithm will analyze your information, calculate your credit score and make you a loan offer in less than 5 minutes.

How to download APK and request a FastCash loan

  • Download the FastCash loan app available exclusively on the Google Playstore and install it on your Android phone.
  • Register an account with your phone number.
  • Preferably, the phone number connected to your BVN will be sent to you as a one-time password for verification.
  • Fill in the basic information, including your home address, next of kin, and employment details.
  • You will also be asked to provide your BVN biometric verification number.
  • Link your ATM card to your account to increase your chances of getting a higher loan amount.
  • A one-time OTP password will be sent to your phone to confirm your details.
  • After you submit your loan application, the software will analyze your credit score and the final result will be displayed on the application.
  • The result should be displayed in less than two minutes, and if you qualify for a loan, the loan amount will be disbursed directly to your bank account.
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You can learn How To Get FCMB Fast Cash Loan Using USSD Code here.

What are the requirements?

  • Be a Nigerian citizen or legal resident.
  • Be at least 18 years old.
  • Have a source of monthly income.
  • Link your ATM card to your account
  • Please provide details of two of your closest relatives, including their phone numbers.
  • Have a good credit score with no outstanding loans from other lenders.
  • Have an active Nigerian bank account.

Which FastCash Loan App Can You Improve?

Most lending apps operating in Nigeria are loan sharks and FastCash is no different. This application grants loans with a payment term of fewer than 7 days, in case you do not meet your payment, you will be charged a daily interest of N1000, even if you cannot pay due to an error in the payment gateway of the application.

FastCash also lacks functional customer support, you will get an automatic response in Chinese if you send a message to the customer support email.

The payment gateway of this app is also problematic. Most customers complain about the inability to pay their loans when due, while the app continues to charge late fees.

This app also charges a loan disbursement fee and has many hidden fees. A client had a loan if N17,000 was approved for them, only N11,000 was disbursed to their account and the rest was calculated as a service charge, the client was asked to repay the total of N17,000 within 7 days.

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FastCash Loan app interest rate?

  • Loan term: from 91 days to 365 days.
  • Loan amount range: ₦5,000 to ₦500,000.
  • Loan interest: the total interest range is from 2% to 24%. The equivalent monthly interest is from 1% to 2% and the APR from 12% to 24%.

FastCash Loan interest rate example:

If you choose a 91-day loan and borrow ₦5,000, the interest rate is 5% per month, and the interest rate is 15%, we will charge you ₦750 as interest for the 91-day repayment period. Therefore, the total refund amount is ₦5,750.

This interest rate and term are just an example, expect your loan amount and term to be significantly shorter if you are borrowing for the first time. You can increase its value by keeping good records and paying loans on time.

What Happens If I Don’t Pay My Loan Or Pay My Loan Late?

Late loan payments automatically incur a 2% charge per day. Therefore, it is recommended not to exceed the expiration date. Paying off the loan before the due date allows you to access larger loans. Late payments will affect your ability to obtain subsequent or larger loans. If you are seriously behind on your payments, First Central Credit Bureau will be notified. The First Central Credit Bureau blacklist may affect your ability to obtain loans from other lenders.

FastCash Loan App Customer Service Number

  • +2348029153049
  • Facebook: https://www.facebook.com/Fastcash-NG-100528115207925/
  • Email: [email protected]

Is Fast Cash Loan App Legit Or A Scam?

Yes, the FastCash Loan app is legitimate and provides loans to customers, but at extremely high-interest rates, especially for first-time borrowers. Always read the reviews of other clients before applying for a loan in Nigeria.

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You should know that these loan applications are not registered or regulated by CBN or any government agency in Nigeria. You are responsible for the security of your transactions with them and cannot seek compensation for poor customer service.

Also, its availability on the Google Play Store does not make transactions made there secure. Play Store only offers one way to download, you are responsible for your own safety when using loan apps in Nigeria.

FastCash loan App is very safe and legitimate, as long as you have met all the requirements for a loan, the loan will be granted. Make sure you provide the correct details when applying for a loan.

The Fastcash Loan Application Is A Scam

FastCash loan app is not a scam. You must follow the instructions in the application to avoid any difficulties in obtaining or paying a loan.

If you notice any illegal debits while using FastCash, report them immediately to your bank for review.

In conclusion, the FastCash loan App is legit and safe. If you experience foul play while using the app, please immediately report it to your bank for review or contact FastCash customer service.