Easykash Loan


In a world where financial emergencies can strike at any moment, having quick and easy access to cash can be a lifesaver.

This is where EasyKash, the Nigerian mobile loan app, comes to the rescue.

EasyKash, a product of EasyKash Digital, is a licensed fintech company regulated by the Securities and Exchange Commission (SEC) of Nigeria.

With a straightforward application process and a range of loan options, EasyKash is here to make your financial worries a thing of the past.

easykash loan

What’s EasyKash All About?

EasyKash offers loans ranging from ₦10,000 to ₦500,000, with flexible repayment terms spanning from 91 to 180 days.

While the interest rates vary depending on the loan amount and repayment term, they typically fall within the 10% to 35% range.

To break it down further:

Getting Started with EasyKash

Before you can benefit from EasyKash’s financial lifeline, you’ll need to follow these simple steps:

  1. Download the App: Start by downloading the EasyKash app from either the Google Play Store or Apple App Store, depending on your device.
  2. Create Your Account: After installation, create your account. Provide essential information such as your name, phone number, and bank account details. This step is crucial to help EasyKash identify and verify you.
  3. Loan Application: Once your account is approved, you can apply for a loan. Choose the amount you need and the repayment period that suits you best. EasyKash will swiftly process your application and provide you with a decision within minutes.
  4. Funds in Your Account: If your loan is approved, the funds will be deposited into your bank account immediately. You’re then free to use the money for any purpose you see fit.

Repaying Your EasyKash Loan

Repaying an EasyKash loan is as simple as obtaining one.

You have a couple of options to choose from:

  • In-App Payments: Use your bank card or debit card to make payments directly through the EasyKash app.
  • Partner Locations: If you prefer a more traditional approach, you can make repayments at any of EasyKash’s partner locations.

The Pros and Cons of EasyKash Loans

Like any financial product, EasyKash loans come with their share of advantages and disadvantages.

It’s important to consider these before making a decision:


  1. Quick and Easy: The application process is seamless and efficient, with loan approvals often granted within minutes.
  2. Flexibility: EasyKash offers a variety of loan amounts and repayment terms, giving you options that suit your unique financial situation.
  3. No Collateral Required: You won’t need to put up any collateral to secure an EasyKash loan, making it accessible to a wide range of individuals.


  1. Interest Rates: While EasyKash provides easy access to cash, it comes at a cost. Interest rates can go as high as 35%, so it’s essential to be aware of the cost of borrowing.
  2. Penalties for Late Repayments: Missing repayment deadlines can lead to significant penalties, so it’s crucial to manage your repayments responsibly.
  3. Security Concerns: EasyKash has faced criticism for some security vulnerabilities in its app, so it’s wise to stay vigilant


Which loan apps are approved by CBN in Nigeria?

The Central Bank of Nigeria (CBN) has taken a significant step in the financial sector by granting approval to 154 digital money lenders to operate within the country.

These approved loan apps have undergone rigorous scrutiny by the CBN and have met the regulatory standards set by the institution.

This move is aimed at expanding financial inclusion and providing convenient access to credit for Nigerians.

Here is a list of some of the CBN-approved loan apps in Nigeria:

  1. Branch Mobile
  2. Carbon
  3. Fairmoney
  4. PalmCredit
  5. Renmoney
  6. Aella Credit
  7. QuickCheck
  8. Umba
  9. NewCredit
  10. Ease Cash
  11. GoLoan
  12. Sycamore
  13. Regxta

It’s important to understand that while these loan apps have received CBN approval, this doesn’t automatically make them the best choice for everyone.

When considering a loan app, it’s crucial to compare different options and select the one that aligns with your financial needs and preferences in terms of loan terms and interest rates.

Additionally, it’s essential to be aware of the potential risks associated with using loan apps.

Some of these apps have faced allegations of imposing high interest rates and fees, as well as employing aggressive collection methods.

Hence, conducting thorough research and choosing a reputable loan app is vital before proceeding with a loan application.

If you are contemplating taking a loan from one of these approved loan apps, carefully read the terms and conditions before signing any agreements.

Ensure that you have a clear understanding of the repayment process, including the interest and fees involved, and confirm that you can manage these financial obligations comfortably.

Financial responsibility is paramount when engaging with loan apps to avoid falling into a cycle of debt

Which app can I use to borrow money without BVN?

It’s crucial to exercise caution when considering borrowing money from loan apps in Nigeria, especially those that do not require a BVN (Bank Verification Number).

While some of these apps may offer convenience, they often come with higher risks and potential drawbacks.

Here are some key points to keep in mind:

Loan Apps Without BVN: Proceed with Caution

  1. Reputation Matters: Loan apps that do not require a BVN are generally considered less reputable. They may charge higher interest rates and fees, and their collection methods may be more aggressive.
  2. Research is Key: Before applying for a loan through any app, particularly those without BVN requirements, conduct thorough research. Read reviews from other borrowers and carefully compare the terms and conditions of different apps.
  3. Financial Responsibility: Ensure that you can comfortably manage the loan’s repayment in full, including interest and fees, before proceeding with the application.
  4. Beware of Fraud: It’s important to note that borrowing from loan apps that do not require a BVN may pose a higher risk of encountering fraudulent or predatory practices.

Tips for Safe Borrowing from Loan Apps in Nigeria

  1. Choose Licensed Apps: To minimize risks, consider borrowing only from reputable loan apps that are licensed by the Central Bank of Nigeria (CBN). Licensing implies that the app complies with certain regulatory standards.
  2. Read Terms and Conditions: Carefully review the terms and conditions of the loan agreement before signing anything. Ensure you fully understand the repayment process, including interest rates and fees.
  3. Financial Planning: Assess your financial situation and confirm that you can comfortably repay the loan in its entirety, accounting for interest and fees. Avoid overextending your finances.
  4. Risks Awareness: Be aware of the potential risks associated with borrowing from loan apps, such as high interest rates and aggressive collection tactics. Understanding these risks can help you make informed decisions.
  5. Communication is Key: If you find yourself facing difficulties in repaying a loan from a loan app, reach out to the lender immediately. Many lenders are willing to work with borrowers to create a repayment plan.
  6. Report Fraudulent Behavior: If you encounter fraudulent or predatory behavior from a loan app, it’s essential to report it to the Central Bank of Nigeria (CBN) or the relevant authorities. This helps protect other borrowers from similar experiences.

Here’s the information presented in a table format:

Loan Apps Without BVNKey Points
EasyKash– Exercise caution, less reputable – Potential for higher interest rates and fees – May employ aggressive collection tactics
Lendigo– Exercise caution, less reputable – Potential for higher interest rates and fees – May employ aggressive collection tactics
NodCredit– Exercise caution, less reputable – Potential for higher interest rates and fees – May employ aggressive collection tactics
General Tips for Safe Borrowing from Loan Apps in Nigeria
– Choose licensed apps for safer borrowing.
– Read and understand the terms and conditions of the loan agreement.
– Assess your financial situation to ensure you can repay the loan fully, including interest and fees.
– Be aware of potential risks such as high interest rates and aggressive collection tactics.
– Communicate with the lender if you face repayment difficulties.
– Report any fraudulent or predatory behavior to the Central Bank of Nigeria (CBN) or relevant authorities.

Where can I get urgent loan in Nigeria?

Are you in need of quick financial assistance in Nigeria? In today’s fast-paced world, unexpected expenses can arise, and having access to urgent loans is crucial.

Whether it’s for personal emergencies, business ventures, or unforeseen bills, this guide will help you navigate the various avenues available for securing an urgent loan in Nigeria.

I’ll explore traditional banks, online loan apps, and microfinance institutions, while providing valuable tips to make your borrowing experience smooth and efficient.

1. Online Loan Apps

In a digital age, online loan apps have become a popular choice for those seeking swift access to cash. These platforms offer convenience and speed, making them a top choice for many Nigerians. Here are some noteworthy online loan apps available in Nigeria:

Branch Mobile

Branch Mobile is a user-friendly online platform that provides quick loans.

With a streamlined application process, borrowers can expect a speedy response and efficient disbursement of funds.


Formerly known as Paylater, Carbon offers easy-to-access loans with flexible repayment options.

Their user-friendly app makes the borrowing process hassle-free.


Fairmoney is a reliable source of quick loans in Nigeria.

They offer competitive interest rates and a straightforward application process.


PalmCredit is another popular app that offers instant loans.

Their transparent terms and conditions make it easy for borrowers to understand their obligations.


Renmoney provides a variety of financial solutions, including loans.

Their personalized loan options cater to different financial needs, ensuring you find the right fit.

2. Banks and Credit Unions

Traditional banks and credit unions remain a trusted source for securing loans.

Although the approval process may take longer compared to online loan apps, they offer certain advantages such as competitive interest rates and reliable service.

If you prefer the stability and reputation of established financial institutions, consider this option.

3. Microfinance Institutions (MFIs)

Microfinance institutions specialize in offering financial services to small businesses and individuals.

They often provide quick access to loans, which can be especially helpful for entrepreneurs and those looking to kick-start a small business.

It’s important to note that MFIs might have slightly higher interest rates compared to banks or online loan apps, but their tailored services can be a significant advantage for specific financial needs.

Tips for Securing an Urgent Loan in Nigeria

When seeking an urgent loan, follow these tips to increase your chances of approval and ensure a smooth borrowing process:

1. Maintain a Good Credit Score

A good credit score can significantly impact your ability to secure a loan and determine the interest rates offered to you.

Prioritize building and maintaining a healthy credit history.

2. Prepare Necessary Documentation

Lenders often require documentation such as proof of income, bank statements, and government-issued identification.

Make sure you have these documents ready to expedite the application process.

3. Be Honest About Your Financial Situation

Honesty is key when applying for a loan.

Provide accurate information about your financial situation and income to assist the lender in making an informed decision.

4. Compare Rates and Terms

Before applying for a loan, take the time to shop around and compare rates and terms from different lenders.

This will help you secure the most favorable deal and save on interest costs.

5. Consider Online Loan Apps for Flexibility

If you face challenges securing a loan from traditional lenders, online loan apps may offer a more flexible solution.

These platforms are known for being more lenient with credit requirements, making them accessible to individuals with less-than-perfect credit histories.

However, be aware that online loan apps often have slightly higher interest rates.


EasyKash is a valuable option for individuals seeking rapid and hassle-free access to cash.

With a streamlined application process and speedy approvals, it’s a financial safety net when you need it the most.

However, it’s essential to keep in mind that convenience comes at a price, with interest rates that can be relatively high.

Before taking the plunge with EasyKash, weigh the advantages against the disadvantages, and ensure you can comfortably manage your loan, including interest and fees.

In a world where financial stability is paramount, EasyKash stands out as a convenient solution for your urgent financial needs.


Leave a Reply