The Lion Cash loan app is a mobile phone application that gives you the ability to borrow money without having to go through the time-consuming and inconvenient process of visiting a bank.
You no longer have to leave the comfort of your own home or place of business in order to obtain a loan at any hour of the day or night.
The application is easy to understand and utilize. After you have downloaded it, you will be prompted to establish an account by entering your M-Pesa number.
After that, you will be prompted to select a four-digit personal identification number (PIN) that will serve as your login credentials for the application.
After you have established your account, you will be required to supply some fundamental details about yourself. These details include your age, your ID card number, your degree of schooling, your marital status, your occupation, and your monthly income.
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Lion Cash Loan App Loan Characteristics
There is no required paperwork, and there is no collateral. To obtain a loan from LionCash, you will not be required to fill out an application form, upload a copy of your identification, or present Mpesa statements. Using the app is the only way to complete any of the tasks.
For the purpose of determining whether or not you are qualified for a loan, the application makes use of a fairly complex algorithm.
It takes into account aspects such as your CRB credit score, the messages associated with your M-Pesa transactions, your location, the sort of phone you have, the message and calls’ records, your monthly income, and your payback history.
The application will take all of these considerations into account in order to decide whether or not you are qualified for a loan. The response to your question will be provided by the system in a matter of seconds.
You may also have a look at the following:
- Okolea Loan App
- Zenka Loan App Kenya
- A-pesa Loan App
- Meta Loan App
- Direct Cash Loan App
- KesLoan Loan App
- Sky Pesa Loan
- TiFi Slice Loan App
- Credit Moja Loan App
How do I fill out an application for a loan from Lion Cash?
When you sign up for the service for the first time, the amount of the loan will be allotted to you automatically. Therefore, you are unable to raise it in the event that you require additional funds.
On the other hand, for successive loans, you have the option of borrowing up to Ksh 10,000 for a period of no more than 30 days.
You will almost immediately receive approval once the application determines your credit limit, and you will be able to borrow money for a period of up to one month.
After that, the app will immediately subtract a sizeable amount of interest as well as a service fee from the total amount that you want to borrow. However, you only have one month to repay the entire sum that was loaned to you.
Loan Applicant Minimum Requirement
There is no requirement for a minimum credit rating to be met.
Before applying, you are required to first understand the terms and restrictions associated with using this app.
After downloading, there will be no more charges for the download or registration.
After your application for a loan has been accepted, you will have the ability to receive the funds in a matter of minutes, even on weekends.