HomeFINANCELion Cash App Download and Application

Lion Cash App Download and Application

Lion Cash loan app is a great mobile phone application that authorizes you to borrow money without going via the long and tiresome process of visiting a bank. Instead, you can now borrow money at any time of the day or night without having to depart your home or office.

How Lion Cash App Works & How to Apply

The app is direct to use. After downloading it, you will have to construct an account employing your M-Pesa number. You will then be requested to choose a four-digit PIN that you will employ to log into the app.
Once you have built your account, you will need to nourish some basic information concerning yourself, such as your age, ID number, level of education, marital standing, profession, and monthly earnings.
There is no paperwork or collateral. You do not need to fill lion cash application form, upload your ID photo or provide Mpesa statements to get a loan. All specialties are done online via the app
The app employs a very sophisticated algorithm to decide whether or not you are qualified for a loan. It contemplates factors such as your CRB credit score, M-Pesa transaction notes, your location, phone type, message and call logs, monthly income, and compensation history.
The app uses these factors to decide whether or not you are eligible for a loan. Then, within seconds, the system will give you your response.

How to Apply for a Lion Cash loan?

For first-time users, the loan portion will be automatically allocated to you. Thus, you cannot increase it in case you require more money. However, for succeeding loans, you can decide to borrow up to Ksh 10,000 at a maximum of 30 days.
After the application shows your credit limit, you will get authorization almost immediately and get a loan for up to 30 days.
The app will then automatically remove a considerable interest and service fee from the quantity you want to borrow. But you will have to pay back the full amount within a month.
“This suggests that, if you borrow Ksh 2000, you will obtain Ksh 1,470 but the fact stays, you still owe lion cash Ksh 2000.” Larceny ha? Once consented, the money is transmitted into your Mpesa account within minutes.
In a nutshell, the Lion Cash Loan App makes borrowing cash more accessible and faster than ever earlier. So if you need a fast loan, this is the app for you.
Interest Rates and Fees
Lion cash loan interest paces vary depending on the quantity you borrow, as well as your credit record and repayment habits. The minimum is 16% APR.

Loan Applicant Minimum Requirement

There is no minimum credit rating condition.
You must read the terms & conditions of operating this app before applying.
Once it has been full downloaded, there is no download price or registration fee. And once your loan proposal has been approved, you can get your finances in minutes, even on weekends.

Advantages of Using This App

It is straightforward to access and positively convenient. You can use it anytime, anywhere, even belatedly at night or during the holidays. All you need is a operating mobile phone which nearly everyone has nowadays.

Once your loan application has been acquiesced, it is processed very quickly and the money is transmitted into your Mpesa account within minutes.
This app also presents you a chance to overhaul your credit rating. If you make opportunely repayments, this will be recollected on your credit report and enhance your CRB score.

Drawbacks of Using This App

The app costs very high-interest rates.
Invasion of privacy – Ready for your relatives, friends, and associates to contact you if you miss settling back the loan on time.
Poor customer care assistance.
Endless calls and intimidating messages if you ignore the deadline to repay the loan.
FAQs about Lion Cash Loans

What is the lowest loan amount?

The lowest loan amount is Ksh 500. This can be increased to 1,000 or 2,000 if you should mention any special requirements to the app administrators before applying for a loan.
Can I borrow better than this?
Yes, you can, though there is a limitation up to Ksh 5,000.

Are there any monthly compensation fees?

No, there are no monthly compensation fees. But if you fail to refund the loan on time, you will incur high late charge charges plus interest charges that accumulate daily.

What is the repayment duration?

The repayment duration is 30 days.

Do I need to posses a bank account to operate the app?

No, you do not need to have any.

How can I know if I am fauthorized for a loan?

They will advise you within minutes after presenting your application, whether you are approved or not.

When can I get my money?

They will deposit the accounts into your Mpesa account within minutes after your loan application has been authorized.

What are the interest rates & service fees?

You can find all the details about interest rates and service fees on the app’s website or in the terms & conditions.

Can I aplly the app if I’m not Kenyan?

No, you have be a Kenyan citizen to use this app.

Is there an age limitation for using this service?

Yes, you must be above 20 years of age.
In conclusion, this app is beneficial to young people and the working category who do not have a loan from the bank. It is also significant news for those with poor credit ratings rejected loans by mainstream lenders.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular