CashNow loan app is offered by PayLoan Investment. The CashNow loan app is available on the Google Playstore, is accessible to all Kenyans and has over 10K+ downloads as well as a 4.4/5 star rating with 600+ reviews.
CASHNOW LOAN REQUIREMENTS/ ELIGIBILITY
To be able to use the CashNow loan app, one needs to own an android smartphone, be at least 18 years with a valid national ID and also be a registered Safaricom subscriber.
Users must also grant the CashNow loan app permission to access your phone data in order to further ascertain the user’s eligibility.
In addition, applicants should possess a good credit score to increase their chances of loan approval.
CASHNOW LOAN APP DOWNLOAD
- Download and install the CashNow loan app from the Google Playstore
- On the next screen, enter your number and you will receive a SMS verification code so as to proceed.
- Fill in the required profile info as well as emergency contacts to complete registration.
Loan decisions are made through an automated system that takes into account many factors, including one’s credit scores, income, payment of other loans, M-Pesa usage, and other information.
If not successful the first time, continue saving data on your phone and to reapply after the period stated on the CashNow loan app.
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CASHNOW LOAN AMOUNT LIMITS
CashNow loan app offers loans ranging from Ksh2,000 to Ksh50,000 whereby the maximum amount will vary with the individual borrower’s credit score and history among other factors
CASHNOW LOAN INTEREST RATE
CashNow loan interest rates vary between 5-30% depending on the loan amount.
CASHNOW LOAN REPAYMENT DURATION
CashNow loan app offers a repayment period of 14 days.
REPAY CASHNOW LOAN USING CASHNOW PAYBILL NUMBER
To make a CashNow loan repayment, please follow the following steps
- Navigate to M-PESA in your Safaricom menu on your phone
- Select Lipa na M-PESA
- Choose the Paybill option
- Enter the Paybill number 942312
- For account number, enter your M-PESA number on which you received your CashNow loan
- Enter your repayment amount
- Enter your M-PESA pin
- Confirm that all details are correct and press ‘OK’.
CASHNOW LOAN APP PERMISSIONS
This app has access to:
- Contacts: read your contacts
- Location: approximate location (network-based)and precise location (GPS and network-based)
- SMS: read your text messages (SMS or MMS)
- Phone: read phone status and identity
- Photos/Media/Files: read the contents of your USB storage and modify or delete the contents of your USB storage
- Storage: read the contents of your USB storage and modify or delete the contents of your USB storage
- Wi-Fi connection information: view Wi-Fi connections
- Device ID & call information: read phone status and identity
- Receive data from Internet
- View network connections
- Pair with Bluetooth devices
- Full network access
- Prevent device from sleeping
CASHNOW LOAN LATE REPAYMENT PENALTIES
CashNow loans not repaid upon due date will attract a 2% rollover fee per day.
Overdue loans after the rollover period will result in default which will ultimately affect one’s ability in getting future loans from other lenders.
In addition, very late payments will result in being blacklisted by Credit Reference Bureau (CRB)
CASHNOW LOAN OVERPAYMENT
After reconciliation of all payments, excess funds will be reversed to M-Pesa account within 7 days.
CASHNOW LOAN CONTACTS
Tel: 0110 000 042
Categories: Loan Apps - Kenya