CashTree is an app providing a loan solution for Nigerian residents going through tough times. CashTree’s loan packages are short-term credit loans suitable for various individuals in urgent need of financial assistance. Registering for loans at CashTree is straightforward and user-friendly, even for first-time online credit applicants.
Cash Tree is a reputable, quick loan app offering 24/7 support, comparing and presenting online loan packages to customers. The procedures are easy and uncomplicated, with funds transferred directly to bank cards. Customers only need personal identification documents and bank verification for online loan registration, with a high approval rate for submitted applications. Monthly payments and installment repayments are easily facilitated through online transfers. The app specializes in providing swift online financial loan package advice. All registrations can be effortlessly and rapidly completed through a user-friendly interface accessible on mobile devices and computers. Since all loan disbursement processes are conducted online, borrowers need not engage in face-to-face meetings or navigate complex paperwork procedures.
Conditions for applying for a loan at CashTre
Similar to the customer’s loan profile, the loan conditions at CashTree are equally straightforward. To qualify for a loan at CashTree, customers need to meet the following criteria:
- Be a Nigerian citizen currently residing and working in Nigeria.
- Age between 22 and 55 years old.
- Have a stable profession and income to ensure the ability to repay the loan.
- Possess valid identification documents in compliance with Nigerian legal regulations.
Information about CashTree’s Loan Packages:
Interest rates for online loans from financial institutions tend to be higher than those from banks due to the relatively short borrowing limits and repayment periods. At CashTree, the interest rates for loans are also relatively high, ranging from 10% to 20% per year, depending on the borrowed amount and chosen repayment term.
For instance, if you borrow ₦100,000 at a 10% interest rate for a 91-day period, the total amount repayable would be ₦102,493 (specifically: ₦100,000 * 10%/365 * 91 + ₦100,000).
First-time customers at CashTree have borrowing limits ranging from ₦1,000 to ₦100,000, with repayment periods spanning 7 to 14 days. CashTree’s initial borrowing limit is significantly higher compared to other loan apps, presenting an advantage for customers choosing CashTree. If customers repay their subsequent loans on time, the borrowing amount can increase up to ₦500,000 with repayment periods of 92 to 120 days.
Customers have a minimum of 91 days and a maximum of 180 days to repay their loans at CashTree. Transaction fees are waived, and extension options are available upon customer request. Late payments incur relatively high penalty fees.
The process to apply for a loan at CashTree:
Currently, you can download the CashTree app from the Android app store, making the registration and loan process swift and straightforward. To apply for a loan, follow these steps:
Step 1: If you’re a new customer, download the CashTree APP.
Step 2: Then select the loan amount, repayment period, and complete the registration steps. If you’re an existing customer, log in directly to the app and choose the loan amount and repayment period. Once done, submit your loan application for approval.
Step 3: Our staff will review your application on the same day and will contact you for any necessary information or assessment.
Step 4: Await loan approval and make payments via bank cards. Remember to repay monthly and receive new rewards on your next loan application.
Frequently Asked Questions at CashTree:
Customers at CashTree often have common queries that need clarification:
What happens if I don’t repay CashTree loans?
Customers are responsible for their loans. If unable to make payments, you can apply for a second late repayment at CashTree. Failure to repay will impact your credit history, affecting your ability to borrow money elsewhere.
What if I don’t receive the verification code?
Users on mobile networks usually receive the verification code within 2 minutes. If the code doesn’t appear or there’s an issue, please contact customer support for immediate assistance. Generally, ensure that your phone is on and capable of receiving messages or calls.