Cashrun: Your Quick and Easy Loan App in Nigeria
financial emergencies can strike anytime.
That’s where Cashrun comes in, a reliable and convenient loan app in Nigeria that offers quick and easy access to funds whenever you need them.
Whether you need to cover unexpected expenses, deal with a medical emergency, or invest in a small business venture, Cashrun is here to help.
Types of Loan Agencies
There are two main types of loan agencies in Nigeria: microfinance banks (MFBs) and fintech companies.
Cashrun falls under the category of fintech companies, which are known for their innovative approach to lending and their focus on providing seamless digital experiences.
Loan Products and Services
Cashrun offers a variety of loan products and services to cater to the diverse needs of its customers. Some of the most popular products include:
Personal loans: These are unsecured loans that can be used for any purpose. Loan amounts range from ₦2,000 to ₦500,000, with flexible repayment periods.
Business loans: These loans are designed to help small and medium-sized enterprises (SMEs) grow and thrive. Loan amounts can go up to ₦5 million, with repayment periods tailored to each business’s unique needs.
Salary advance: This service allows you to access a portion of your salary before payday, providing you with immediate cash flow when needed.
Eligibility Criteria
To be eligible for a loan from Cashrun, you must meet the following basic criteria:
Be a Nigerian resident and above 18 years old
Have a valid BVN and bank account
Have a regular source of income
Interest Rates and Fees
Interest rates on Cashrun loans are competitive and transparent. The specific rate you receive will depend on your loan amount, repayment period, and credit history. All fees associated with your loan are clearly disclosed upfront, ensuring you have a complete understanding of your financial obligations.
Repayment Terms and Conditions
Cashrun offers flexible repayment terms to suit your individual needs. You can choose to repay your loan in installments over a period of 3 to 12 months, depending on the loan type and amount borrowed. It’s important to make your loan repayments on time to avoid late fees and penalties.
Customer Service
Cashrun is committed to providing its customers with excellent service. Their dedicated team of customer service representatives is available 24/7 to answer your questions and assist you with any issues you may have.
Loan Application Process
Applying for a loan with Cashrun is quick and easy. You can do it all through their user-friendly mobile app:
Download the Cashrun app from the Google Play Store or Apple App Store.
Create an account and provide the required information.
Choose your desired loan amount and repayment term.
Submit your application and wait for a decision.
If approved, the loan amount will be disbursed directly to your bank account within minutes.
Loan Repayment Options
Cashrun offers several convenient loan repayment options, including:
Direct debit from your bank account
Bank transfer
Online payment through the Cashrun app
Cash deposit at any Cashrun partner agent location
FAQs
How long does it take to get a loan decision?
Cashrun typically provides loan decisions within minutes of submitting your application.
What are the interest rates on Cashrun loans?
Interest rates on Cashrun loans vary depending on the loan amount, repayment period, and your credit history. However, they are generally competitive with other lenders in the market.
What are the loan repayment options?
Cashrun offers a variety of loan repayment options, including direct debit, bank transfer, online payment, and cash deposit.
What happens if I miss a loan repayment?
If you miss a loan repayment, you will be charged a late fee. It is important to make your loan repayments on time to avoid late fees and penalties
