Cashnow offers instant and affordable collateral free loans to their customers from different countries of the world so long as they have a valid Emirates ID and are resident in the United Arab Emirates(UAE).
Just like other digital lending platforms, Cashnow loan platform has their terms and conditions that customers can meet before they can get loans from the platform. Apart from their eligibility criteria, they also have other policies regulating their services.
Don’t forget that as a lending company, they also have their interest rate and processing fees hence it is vital to understand how their lending services works before taking a loan from the platform.
Having said that, let’s continue with the discussion.
Is Cashnow Legit?
YES. Cashnow legit.
It is one of the reliable digital lending platforms in the UAE. They have been rendering excellent loan services to their customers but before you take a loan from them, ensure that you understand their terms and conditions. Don’t forget to borrow responsibly.
Eligibility Criteria For Cash Now Loan
As we noted in the introduction, before an individual can take a loan from Cashnow, such a person is expected to meet certain requirements. The eligibility criteria are outlined below:
- Must be resident in the UAE.
- A valid Emirates ID.
- An active bank account.
- Must be between the age range of 20 – 55 years.
Cashnow Loan Amount
The loan amount that an individual can take from Cashnow is not fixed because it is totally dependent on the borrower’s credit scores and the loan product chosen.
Nevertheless, the loanable amount that an individual can take from Cashnow ranges from AED 500 – AED 10,000.
As you may know, the better your credit score the higher the loan amount that you’ll be eligible to and vice versa.
CashNow Loan Repayment Term
The Cashnow loan term is relatively flexible hence allowing the borrowers to pay off their loan with ease.
The loan term ranges from 91 – 180 days.
Cash Now Loan Interest Rate
The Annual Percentage Rate(APR) of Cashnow loan is pegged at 25%.
Additionally, they also charge a 5% processing fee.
However, since financial companies are liable to change, it is important to confirm their updated interest rate before taking a loan from them.
Cashnow Loan Application Process
Applying for Cashnow loan is quite simple and straightforward, follow the steps outlined below to apply.
- Download and install the CashNow app from a trusted application store.
- Register an account with your phone number to get started.
- Verify your identity to proceed.
- Complete the loan application with the required information, remember to submit relevant documents if any.
- If you’re eligible, the loan amount will be disbursed to your account.
CashNow Loan Review
Our check in different review platforms like Google Play Store, Trustpilot reveals that users are having diverse views about the financial services of Cashnow loan platform.
From Trustpilot, Jayden Maxwell has this to say: I’ve been using cashnow for over a year with not a single repayment delay and even paid some ahead of time. Recently I tried to apply for another loan but the credit assessment declined my request for no reason at all. I make sure that my score is preserved well by making all payments due in time. In short, cashnow is longer a reliable service provider in terms of lending’’.
From Google Play Store, Naman Kamboj has this to say: ‘’Good to have such kind of backup support when you need it. A good aap, but the interest rates are damn high and one thing the principal doest increase as the previous case was closed. Beside these 2 issues, the idea of money making is quite impressive. Keep it up’’.
Our check on Play store also reveals that over 1 million users have downloaded the CashNow loan app with 3.1 stars rating from more than 27k reviews.
CashNow Customer Support
For questions and inquiries, contact their customer care unit for assistance vai the following means:
Address：2312, Addax Office Tower, Al Reem Island, Abu Dhabi, U.A.E
CashNow Loan Summary
The table below summarizes all you need to know about CashNow loans.
|Loan amount||AED 500 – AED 10,000|
|Repayment plan||91 – 180 days|
|Interest rate||25% APR5% processing fee|
|Age range||20 – 55 years|
CashNow offers an unsecured loan of up to AED 10,000 to their customers to enable them to sort out their urgent financial needs.
Their application process is quite simple and hassle-free because their mobile app is very easy to navigate. But if you experience challenges during the application process or you’ve any inquiry to make about their services you can reach out to their customer care unit because they’re always there to serve you.