Loans are typically useful, particularly when the moneylender has a user interface that is straightforward for customers. Rapid Cash is one of the top lenders offering business owners and salaried individuals loans.

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About Rapid Cash?

Rapid cash operates an online money lending business in Nigeria that provides loans to business proprietors, private individuals, and corporations. Rapid Cash offers consumers single-payment loans, loans with installment payments, and payroll loans for loan repayment. Rapid Cash links your bank account to your loan account, from which they will deduct the loan amount, in order for you to obtain this loan.

How many loan kinds does Rapid Cash offer?

Rapid Cash offers a minimum loan amount of 10,000 naira. However, the highest amount a recent member can get is 50,000 naira. New or old, a customer requires no collateral or guarantor to get a new loan. 

What are the Interest Rates?

Rapid Cash's interest rates vary from customer to customer. It utilizes the customer's repayment history and cost of borrowing. To qualify for a salary advance loan, you may only borrow 20% of your income. A person earning 100,000 naira can therefore qualify for a loan of 20,000 naira.

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Who can use Rapid Cash?

Rapid Cash is available to individuals in need of short-term loans. If you have been repeatedly denied a loan by banks, there is a chance that Rapid Cash can help. This is because it is a short-term loan aimed at individuals who are typically ineligible for bank loans, such as students, small business owners, and others.

Rapid Cash options

Rapid Cash provides the Payday loan, which is designed for salaried individuals. It is intended to provide an overdraft to employees of reputable businesses or government agencies. To qualify for this loan, simply complete the salary advance loan application and submit it for evaluation. This loan has a maximum duration of 30 days.

With Rapid Cash, you receive a loan decision in less than one business day. Additionally, the repayment schedules are quite adaptable and can be tailored to your financial situation. This loan requires neither collateral nor a cosigner. However, Rapid Cash is only available to salaried individuals employed by a private company. In addition, the utmost loan amount through Rapid Cash is 50,000 naira.

How to get started

To get started, you only need a social media account that has been verified, your bank details — bank account name and details — your Bank Verification Number, and an official email address to monitor the process.

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To obtain the finest loans in Nigeria, it is best to conduct an online comparison of other online moneylenders. Thus, you are kept apprised of the most advantageous interest rates and repayment terms.

Conclusion

Rapid Cash connects with its consumers through social media by meeting them at their point of need. They are aware that many people spend the majority of their time on their phones and have designed their products to appeal to mobile and social media users.