You must have heard of this recently launched loan platform that gives one of the fastest loans in Nigeria. As the name implies, swiftkash offers quick loans to citizens who indicate interest and meet all the eligibility criteria for the loan.
In this article, we will discuss extensively what the swiftkash loan is all about, how to apply for the loan, eligibility criteria for the loan, and one of the most important things we will discuss is to answer some of the frequently asked questions people have on this topic. Stay tuned. You will learn a lot.
Overview Of SwiftKash
There have been so many loan platforms in Nigeria, and this is because of the ever-growing business sectors and investment platforms across the country.
With an increase in the number of businesses, mainly because of the ever-rapid development rate of the internet, comes an increase in the quest for loans in the country.
The swiftkash credit loan is one of the best credit loan platforms in the country, and this platform was created specifically to offer business loans and personal loans to individuals
What swiftkash credit loan stands for is helping both business owners and individuals in time of need to obtain a loan from the platform to sort out their needs.
The loan offered by the swiftkash credit loan platform is divided into different categories. The reason for this is to enable almost everyone to fit into one of the categories.
When we mention category, we mean that the swiftkash credit loan platform divides its loan into categories. This means that there are loans for everyone, and they have loans for everyone, and you can either apply for small loans, medium size loans, or large loans.
Regarding approval rate, the swiftkash credit loan platform has the highest and fast approval rate. Let’s see how this platform works
How Swiftkash Works
Before you apply for a loan on this platform, you need to know how the loan platform works. The swiftkash loan platform works on the following principles;
- You are required to apply for the loan, and the application process involves downloading the app from the Google play store; we will discuss this in detail later, after which you can apply for the loan.
- During the application process, you are to provide your details accurately. What this means is that whichever and whatever details you are inputting in the platform, make sure it is correct. One mistake can lead to the termination of your loan application process.
- The swiftkash loan platform works on the principle of first come, first served. This means that if two people, for instance, apply for the same loan amount, choosing the same repayment plan, the swiftkash credit loan will first approve the loan of someone that meets all the requirements.
One of the essential factors that swiftkash uses is your creditworthiness score. This means that if your creditworthiness score is high, the higher the chances of your loan being approved. This is how swiftkash credit loans work.
Eligibility Criteria For Obtaining Swiftkash Loan
Before you can apply for a loan on this platform and get approved, you must meet the following eligibility criteria and are;
- The minimum age requirement is 18 years of age. If you are below this age, your loan application process will not be approved.
- The maximum age requirement is 60 years. If you’re above this age, your loan application process will not be accepted.
- You are required to provide your BVN. This is very important as it helps the platform to verify your creditworthiness and to know if you are eligible for the loan you are opting for. So make sure you input your active BVN.
- When applying for a swiftkash loan, ensure you do not owe any other loan platforms. Your creditworthiness is determined by how many of the loan platforms you are owing or not owing. The more loan platforms you owe, the lower your credit score and the lower the chances of your loan application being accepted.
Benefit Of Swiftkash Credit Loan
There are so many numerous benefits of swiftkash credit loan, we will list just a few of them, and they are
- Fast Approval Rate
- No Collateral Needed
- Low-Interest Rate
Fast Approval Rate
The approval rate of swiftkash loans is swift, which is why most people opt for this loan platform.
When you apply for a loan on the platform and get approved, the money will be credited into your standard bank account in minutes.
Another thing to note is that if you are not eligible for the loan, you will be notified immediately, and the reason why you’re not qualified this allows you to try other loan platforms.
No Collateral Needed
Another important thing you need to know is that collateral is not required when applying for the swiftkash loan.
No matter the category of loan you apply for on this platform, you don’t need collateral to obtain a loan, and this is one of the things that makes this platform unique.
Without collateral, there will be no need for elaborate paper works, and there’s no need for embarrassment and hassle; this means that this loan is a stress-free loan, and the above reason is one of the reasons people go for it.
The interest rate of this loan is very low, the interest rate ranges from 0.5 to 5% per year, but this depends on the amount of money you obtain from the platform and the repayment option you choose to apply for. This is one of the reasons why most people who apply for this loan usually pay back before the agreed period.
How To Apply For Swiftkash Credit Loan
The application process for a swiftkash credit loan is very easy. All you need to do is to follow the steps below ;
- The first thing you need to do is to download the app from the Google play store. Before you do this, make sure you have a strong internet connection. Click on Google play store, search and download, then install it.
- Click on it and sign up. If you’re a new member, you must input some of your information. Make sure that the information you input is correct. Any wrong information will lead to the termination of your loan application process.
- Then proceed to apply for a loan. You must fill in your details, such as your BVN. Your BVN is used to check your creditworthiness. After filling that in, fill in your phone number connected to your bank account.
- If and when approved, the loan will be disbursed to your standard bank account.
Interest Rate Of Swiftkash Credit Loan
The interest rate of swiftkash credit loans is low, and this is one of the reasons why most people opt for this loan. The interest rate ranges from 0.5 to 5%, but this depends on the amount of loan you obtain from the platform.
How To Contact Swiftkash Credit Loan
Contact information. Address: 17 Castlereagh St Sydney NSW 2000. Phone: 1300 179 438
Frequently Asked Questions
What Is The Interest Rate of Swiftkash?
The interest rate of swiftkash ranges from 0.5 to 5%, depending on the loan you obtain from the platform.
Do I Need A Collateral For the Application?
One of the benefits of this loan is that you do not need collateral before applying for a loan on the platform. All you need to do is ensure you meet all the eligibility criteria.
What Is The Maximum Amount Of Loan you can obtain from this platform?
The maximum loan you can obtain from this platform is 1 million Naira.
Swiftkash is a reliable loan company with many positive reviews from its users across the country.
We are confident that you have known everything you need to know about this loan company. Feel free to ask questions in the comments section if you have any.