FalconCash loan app is a Nigerian lender Linpark Technology that promises short term online loans for emergency uses. New borrowers can get between ₦12,000 – ₦100,000 at 14% monthly interest rate.
Though the app is relatively new on the play store with just about 10k downloads so far, the application process is simple and digitized. You will need to provide some basic information, such as your name, email address, phone number, and bank account details. You will also need to provide a copy of your ID card.
|Loan amount||₦12,000 – ₦100,000|
|Loan tenure||30 days|
|Interest rate||14% monthly interest.|
|Age Eligibility||18 to 60 yrs|
|Customer care number||+234 9137981179|
|Office address||SIRET TECH COMPLEX, LOKOJA – ABUJA EXPRESS WAY (OPPOSITE FEDERAL UNIVERSITY LOKOJA PERMANENT SITE) FELELE, Lokoja, Nigeria|
Is FalconCash loan app legit or scam?
Falconcash has a smooth and seamless registration interface, the app is legit. Though relatively new, on the Google play store, most customers that apply are still waiting to receive their loan disbursement. It is important not to make any up front payments to new online loan apps.
Because there is no regulations in Nigeria, most of these apps are loan sharks who might threaten to send messages to your family members calling you a scammer if you default on your repayment. It is best to avoid these apps if you have other options.
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.
Loan Terms: Borrowers must be Nigerian citizens over the age of 18 with ID card only.
How to apply for a loan
·Download the APP and complete the registration through the mobile phone number
·It takes 3 minutes to complete personal information
·Fill in your personal bank account information, select the loan amount and apply immediately.
Online loan amount: ₦12,000 – ₦100,000
Online loan cycle: the shortest 3 months, the longest 12 months
Online loan interest rate: up to 14% per year (APR)
Service Fee: 0
For example: If you apply for a loan of ₦12000, the interest is 14% (APR) per year, and the loan period is 120 days, then the total amount to be paid is ₦12000 loan + ₦12000 interest * 14% (APR) * (120/365) days = ₦12552 (no other fees)
Total monthly payment: ₦3138=₦12552/4
Here are some tips for using online loan apps responsibly:
- Only borrow money that you can afford to repay.
- Set a budget and stick to it.
- Make sure you understand the terms of the loan, including the interest rate and repayment terms.
- Make your payments on time.
FalconCash loan customer care number
Tel: +234 9137981179