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Fair Cash Loan: How to Access It

By Oluchukwu Ikemefuna

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One can be caught off guard by unplanned expenses at any time, which leaves a hole in our pockets. Fortunately, Fairmoney’s Fair Cash Loan can be your savior in financial trouble. It is a convenient choice to get a fast cash advance without the hassles of traditional loans.

At FairMoney, an instant Fair Cash loan will be easily credited to your Fairmoney account that you can use for either some of your financial problems or for your business.

This guide will take you through the entire process of obtaining a Fair Cash Loan. It is intended to give you directions on how to access them through the Fairmoney app (if that is the application method) and how to initiate the Fair Cash login into your existing account to apply for a loan. 

At the end, you will have the necessary information about navigating the Fair Cash loan app and making a decision on whether a Fair Cash Loan suits your current condition.

What is a Fair Cash Loan?

Fair Cash Loan

FairMoney is a typical source of Fair Cash Loans in Nigeria that can be a perfect solution if you need some instant money. They are appealing because of their unsecured nature meaning that you don’t have to pledge your car or house as collateral. This implies that the application process for these loans is much easier than it is for the traditional ones.

With this loan app, you do not require a guarantor or any extra paperwork to get a loan starting from ₦1,500 and up to ₦3,000,000 disbursed into your account. The loan app has been there for longer, it has over 5 million downloads on Play Store and it is among the very few loan apps that have never been deleted from Play Store since its launch.

Fair Cash provides an extremely low interest rate which keeps improving as you borrow more. With its growing popularity over the years, this loan app is a must-have app for everyone who needs loans because it’s an outstanding company.

Read Also – 23411 Loan: How to Apply

Features of Fair Cash Loan 

The Fair Cash loan is a type of loan that has numerous advantages and is an excellent alternative for the borrower. Among them:

  1. Interest Rates: This loans are unsecured and have a lower interest rate than those provided by traditional financial institutions. This will enable the borrowers to repay the loan without incurring excessive debt.
  1. Repayment Period: Fair Cash loans provide adjustable payback durations ranging from 1 to 12 months, allowing borrowers to choose a time that works best for their financial status and budget.
  1. Loan Limits: The loans range from N1,500 to N3,000,000. The amount available depends on the borrower’s creditworthiness and ability to repay.
  1. Disbursement Process: Fair Cash loans offer quick and secure disbursement methods. Once your application is authorized, funds will be transferred to your account within a few minutes.
  1. Collateral Requirements: Because Fair Cash loans do not demand any collateral or guarantor, borrowers can obtain them without risking their assets as security.

Fair Cash Loan Requirement

The following are the prerequisites to obtain a loan:

  1. Basic personal information, such as name and email.
  1. Requirements: Nigerian nationality, bank verification number (BVN), and ATM card. This is required since it will be used to deduct funds for loan repayment.
  1. Bank Account Details
  1. A photograph of you may be required in real-time.
  1. You can only apply for a loan through the loan app.

Also Read – Kashbean Loan: Instant and Safe Loan in Kenya

How to Apply for a Fair Cash Loan

The application process for a Fair Cash loan is straightforward and can be completed in a few short steps.

  1. To apply for a loan, go to their website or download their phone app.
  1. Next, you must establish an account by providing personal and contact information.
  1. When you create an account, you should provide further information about your wages, employment, and other pertinent details.
  1. After submitting your application, the Fair Cash team will review it, and you may receive a decision within minutes.
  1. If your application is granted, you will get the loan amount in your bank account within minutes.

How and Where to Download the Fair Cash Loan App (FairMoney)

Fair Cash Loan App

The Fair Cash loan app is available for download from the Google Play Store for Android devices. The following are the procedures to download the Fair Cash loan app:

  1. Launch Google Play on your Android device.
  1. Type “Fairmoney Nigeria” into the search bar and hit the enter key.
  1. From the search results, select the Fairmoney application.
  1. To download and install the app, press the “Install” button.
  1. After installing the app, please launch it and follow the prompts to create an account and apply for a loan.

Read Also – Zuri Loan: How to Apply

How to Apply for Fair Cash Loan Using USSD Code

To apply for a Fair Cash loan using the USSD code, complete these steps:

  1. Dial *566*15# from your cell phone.
  1. You will be required to verify your loan eligibility.
  1. Select the loan amount you would like to apply for.
  1. Provide all necessary information, such as bank account details, personal information, and employment status.
  1. Review and validate your loan application.
  1. Wait for approval, which normally happens within a few minutes.
  1. If your loan is authorized, the money will be transferred to your bank account in minutes.

Fair Cash Loan Calculator 

The loan calculator is one of the Fair Cash (Fairmoney) features that assist in determining the amount of loan qualified for, as well as the associated interest rate and payback terms. The loan calculator is available on both the Fairmoney app and website.

To utilize the loan calculator, perform the following:

  1. Open your online browser or download the Fair Cash app and look for the loan calculator.
  1. Enter the amount you’d like to borrow. You can borrow at least N1,500, but no more than N3,000,000, for up to 24 months.
  1. Choose a timeframe that fits your financial situation. Fair Cash offers loans for up to 24 months.
  1. Based on the amount and duration you select, a loan calculator will display the interest rate and final repayment amount.

A loan calculator can help borrowers estimate the affordability of loans and make informed borrowing decisions.

It ensures transparency in the loan application process for borrowers, allowing them to better understand the terms of their loan, including interest rates and repayment.

Also Read – Hikash Loan: How to Apply

Fair Cash Loan Interest Rate and Repayment Term

Fair Cash Loan Interest rates vary from 2.5 and 30%, with annual percentage rates (APRs) ranging from 30% to 260%. The shortest loan tenure is 61 days, while the highest loan tenure is 18 months.

Positive loan payback behavior might result in higher interest rates and longer loan tenure.

If you do not repay by the agreed-upon deadline, you may be charged late fees at FairMoney’s discretion, your loan account will be banned, you will be reported to the national credit bureau, and you may be permanently barred from borrowing from other trustworthy lending institutions.

How to Repay a Fair Cash Loan

To return your loan, Fair Cash (FairMoney) provides two self-payment methods on the app: a debit card linked to the app and repayment through your FairMoney Bank.

How to Repay with a Debit Card

To make a payment using a debit card linked to the app, simply click on “Repay loan” on the homepage, enter the amount to pay back, and pick the card linked to the app.

How to Repay with FairMoney Bank Transfer

To make a transfer to FairMoney Bank, click on “Fund Account” on the homepage and confirm your FairMoney Bank account number. After the transfer is made to your FairMoney bank account, it will appear as a deposit on the app. To repay your loan, simply click on the Repay loan button, choose the FairMoney option to begin repayment, and your debt will be refunded immediately!

Read Also – Lend Plus Loan App: How to Apply

Benefits of Fair Cash Loan App

Fair Cash Loan App is a very convenient tool that provides numerous benefits to its customers, making it an effective and dependable financial instrument. Here’s what it does.

1. On-the-go borrowing.

Fair Cash allows users to borrow money while on the road and at any time using their smartphones. They do not need to visit real bank locations or fill out lengthy documents, which saves them time and effort.

2. Quick Approval Process

Unlike traditional bank loans, which can take days or even weeks to approve, Fair Cash offers a rapid approval process. Users may receive loan approvals in minutes, allowing them to address their financial problems promptly.

3. Flexibility

Fair Cash offers customizable lending terms and repayment alternatives, allowing customers to tailor their loans to their own financial needs. This loan app caters to a wide range of demands, from short-term loans for emergency bills to longer-term loans for significant purchases.

4. No Concealed Charges and Interest Rates

Fair Cash is very clear about its fees and interest rates, and it provides this information to its users ahead of time. They can make informed judgments without having to worry about hidden fees or unexpected expenditures.

5. Financial Inclusion

Fair Cash welcomes a wide spectrum of consumers who may face barriers to standard banking systems. The company’s accessibility feature promotes financial inclusion by allowing people from all walks of life to borrow money.

6. Credit Score Development Opportunities

Customers with Fair Cash can improve their credit score by being responsible customers who pay back their loans on time. This may be especially useful for those who have no or poor credit history and want to better their financial situation.

7. Security

Fair Cash prioritizes security, which includes the protection and privacy of its users’ personal and financial information. Data protection makes use of encryption technologies to ensure that consumers feel secure while using the app.

8. Customer Support

Fair Cash routinely offers customer assistance to help consumers with queries or difficulties with the app or their loans. Personalized help may improve the entire user experience and increase user trust.

Fair Cash Loan Contact

  • Office: 28 Pade Odanye close, off Adeniyi Jones, Ikeja.
  • Email: help@fairmoney.ng
  • Tel: 01 7001276 / 01 8885577

Final Thoughts

Accessing loans is critical to financial stability. Fair cash loan apps speed up the process and make it more convenient and accessible. People are already receiving funds quickly and transparently, with no obligations, after initiating the Fair Cash loan login.

These loans serve as emergency help, allowing people to meet their necessities while avoiding predatory financial options. Fair cash loans promote responsible borrowing and lending, resulting in a more stable financial climate for both creditors and debtors.

Fair cash loans, whether used for unanticipated expenses or planned investments, provide an excellent alternative to people who need financial assistance.

Frequently Asked Questions

What is a Fair Cash Loan?

Fair Cash Loan is a service offered by FairMoney, a Nigerian digital bank, and instant loan app. It enables users to access fast and easy loans.

How do I apply for a Fair Cash Loan?

There is no distinct product known as Fair Cash Loan. Instead, you can apply for a loan directly through the FairMoney app. Download the app, sign up using your phone number linked to your BVN (Bank Verification Number), and follow the prompts to apply for a loan.

How much can I borrow with a Fair Cash Loan?

FairMoney offers loans between ₦1,500 and ₦3,000,000 depending on your creditworthiness. The better your credit history, the higher the loan amount you may be eligible for.

How long does it take to get a Fair Cash Loan?

FairMoney prides itself on being quick and efficient. In most cases, you will have your decision within 5 minutes after applying and receiving funds.

Is FairMoney safe to use?

FairMoney is an authorized and regulated microfinance bank in Nigeria. They operate secure systems that safeguard your personal information.

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Onyinyechi Ikemefuna
Onyinyechi Ikemefuna

Ikemefuna Onyinyechi Patience, a skilled Content Writer hailing from Anambra State Nigeria, holds a Higher National Degree in microbiology from Federal Polytechnic Oko, Anambra. Armed with robust research and SEO expertise, she excels in crafting articles spanning technology, finance, healthcare, education, and lifestyle. Her work stands out for its ability to authentically inspire and engage while inciting action. Beyond her writing prowess, Ikemefuna finds joy in reading, exploring movies, and delving into continuous research, contributing to her growth as a proficient writer.

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