Cashbus Loan App Review: APK download, customer care number

Hassan Bar July 10, 2023

CashBus loan app offers instant online personal loans up to NGN 30,000. The interest rate starts from 1% per day (25.55% p.a.) and the repayment tenure ranges from 1 week to 1 month. You can apply for the loan through CashBus’ mobile app or official website and get money within minutes through a digitized process.

CashBus loan Details

Loan amount	Starting from NGN 1,000 for new customers
Loan tenure	1 week – 1 months
Interest rate	25.55% p.m. onwards
Processing fee	NGN 100 + GST
Age	18 – 56 years
Credit history	Not required

How to Download APK and get a loan from Cashbus Loan app

Download the Cashbus personal Loan App exclusively available on the Google Playstore and install it on your Android phone.
Register an account with your phone number.
Preferably the phone number connected to your BVN as a one-time password will be sent to it for verification.
Fill in your basic know-your-customer KYC information, including your residential address, next of kin, and employment details
You will also be required to provide your Biometric verification number BVN.
You’ll be charged N30 to bind your ATM card to your account to increase your chances and getting a higher loan amount.
A one-time password OTP will be sent to your phone to confirm your details.
After the submission of your loan application, the software will analyze your credit score and the final result will be shown in the APP.
The result should be displayed in less than two minutes and if you qualify for a loan, the loan amount will be disbursed into the bank account directly.
Make sure you’re using a good phone with enough memory space as you will be required to take a clear live selfie for identity.
Your BVN is linked to your credit score, so if you have an outstanding loan with other lenders or didn’t pay other lenders as at when due, expect your application to be rejected.
Your credit score is a record of your previous borrowings, how early or late you make your payments, cash transactions going in and out of your bank account among other information.
When you download this app you have to consent to it to get access to your phone book contacts that will serve as your guarantors, SMS to see your banking transaction records, apps on your phone to see how you use other loan apps and other details it uses to build your credit score.

Is Cashbus loan app legit?

Cashbus is a legit loan app that gives short-term loans but at expensive interest rates. online loans should not be taken to fund one’s lifestyle, but should only be used for emergencies.

You should know that these loan apps are not registered or regulated by the CBN or any government agency in Nigeria. You are responsible for the security of your transactions with them and there is no way to seek redress for poor customer service.

If you’re being threatened or bullied by any loan shark in Nigeria, see this Facebook group where you can find support and read about the experience of others who have suffered bullying from loan apps.

You can take steps to check and remove your BVN from the credit bureau blacklist after repaying your loans and your loan app did not automatically clear you.