Welcome, Today we’ll talk about Swiftkash Loan Review, Interest Rates, How to apply, Customer Care Contact Number.
Swiftkash is an online lending platform that provides quick loans to individuals and businesses in Nigeria. In this review, we will examine their loan products, rates, application process, repayment terms, and customer support.
Overview of Swiftkash
Swiftkash offers unsecured personal loans from ₦1,500 to ₦250,000 with flexible repayment tenors. Their loans are collateral-free, require no guarantor, and can be accessed fully digitally in minutes.
Key features include:
- Loans from ₦1,500 to ₦250,000
- Repayment term of 1 to 12 months
- No collateral or guarantor required
- Instant loan decision and disbursement
- Loans paid directly to customer’s bank account
- Convenient repayment via multiple channels
Types of Swiftkash Loans
Swiftkash offers these loan products:
Emergency Loans
Get immediate funds for pressing needs like medical bills, funerals, vehicle repairs etc. Amounts from ₦5,000 to ₦150,000.
Business Loans
Boost your business with capital for inventory, equipment, expansion and more. Maximum amount is ₦250,000.
Salary Advances
Access up to 50% of your monthly salary before payday. Ideal for meeting urgent expenses.
Swiftkash Interest Rates and Fees
Swiftkash charges interest between 2.5% to 5% per month depending on your profile. Other fees include:
- 1% processing fee on approved loan amount
- Late repayment fee of ₦2,000 per month
- ₦500 debit reversal fee is bank debit fails
- No prepayment penalties or application fees
Effective annual interest rates range from 30% to 60%.
Requirements to Get a Swiftkash Loan
To qualify for a loan from Swiftkash, you need:
- Minimum age of 21 years
- Valid ID document like national ID card, driver’s license, voters card, etc.
- Active bank account and valid BVN
- Proof of income such as salary slips, bank statements, etc.
- Utility bill or valid address verification
- Working phone number
How to Apply for a Swiftkash Loan
To get a loan from Swiftkash, follow these steps:
- Download the Swiftkash app and register your account
- Fill in personal details like name, DOB, address, employment etc.
- Select desired loan product and amount
- Upload required documents like ID card, payslips, and photo
- Agree to Swiftkash’s terms and submit application
- Get an instant decision and receive loan amount if approved
The whole application process can be completed online in just a few minutes.
Loan Disbursement and Repayment
If approved, the loan amount is disbursed directly into your bank account, usually within minutes or a few hours. You can repay your loan through:
- Bank transfer or deposit
- Debit order payment on due date
- Card payment on Swiftkash website
- Cash payment at partner banks
Swiftkash allows early repayment with no extra charges. Late payments face a ₦2,000 monthly fee.
Pros of Swiftkash Loans
Benefits of getting a loan from Swiftkash include:
- Quick disbursement after approval
- No collateral or guarantor required
- Competitive interest rates
- Convenient online application
- Flexible repayment options
- No credit checks or hidden charges
Cons of Swiftkash Loans
Some downsides to consider:
- High effective interest rates compared to banks
- Limit of ₦250,000 maximum loan amount
- Missed payments affect your future access to loans
- Strict eligibility requirements may exclude some
How to Download the Swiftkash App
The Swiftkash app allows you to:
- Apply for a loan from your phone within minutes
- Get instant loan decision and approval notifications
- Submit required documents easily
- Monitor loan status and track repayment
- Make early repayments from the app
- Contact customer support and manage your profile
Download the Swiftkash app for Android via Google Play Store or for iOS via the App Store to get started.
Swiftkash Customer Service Contacts
You can contact Swiftkash customer support through:
- Email -csg@swift-online.com
- Phone – 044-2434 9361
- Social media – @Swiftkash on Facebook, Twitter, Instagram
Response times are generally fast across their different customer service channels.
Verdict on Swiftkash
Swiftkash makes accessing fast online loans straightforward with minimal requirements. However, borrowers should be cautious of high interest rates and ensure they can repay on time to avoid late fees or credit issues. For quick emergency funds, Swiftkash offers a convenient digital lending option.
FAQs On Swiftkash Loan Review, Interest Rates, How to apply, Customer Care Contact Number
What documents do I need to apply for a Swiftkash loan?
You need a valid ID, proof of income, passport photo, utility bill, and your BVN.
How long does Swiftkash take to disburse approved loans?
Swiftkash disburses approved loans to customer bank accounts typically within a few minutes or hours.
Does Swiftkash run credit checks before approving loans?
No, Swiftkash does not perform credit checks. Loans are approved based on your income and eligibility criteria.
Can I repay my Swiftkash loan early?
Yes, Swiftkash allows early repayment with no extra
What is the maximum loan amount I can get from Swiftkash?
The maximum loan amount offered by Swiftkash is ₦250,000.
How long does it take to get approved for a Swiftkash loan?
Swiftkash claims to offer instant loan approval decisions within a few minutes if you meet the eligibility criteria.
Can I apply for a loan if I don’t have a guarantor?
Yes, Swiftkash does not require any guarantor for approval. The loans are unsecured.
What should I do if I can’t repay my loan on time?
Contact Swiftkash customer care immediately if you foresee any issue with repaying on time to discuss options and avoid late fees.
Does Swiftkash offer loans to businesses?
Yes, Swiftkash provides business loans in addition to personal loans and salary advances.
Read more: finance forgot my palmpay password and pin how to reset change and recover palmpay password and pin
Conclusion
Swiftkash provides quick access to emergency funds for Nigerians through seamless digital loan services. With flexible loan amounts and repayment tenors, no guarantor requirements, and instant disbursal, Swiftkash offers convenience when urgent needs arise.
However, borrowers should evaluate interest rates and fees closely when comparing to alternatives. Overall, Swiftkash is a trusted platform for online loans if used responsibly.
After reading this article now you know Swiftkash Loan Review, Interest Rates, How to apply, Customer Care Contact Number.
