Rapid Cash Loan
Loans usually get in handy especially when the lender has a flexible interface that makes it easy for clients.
Rapid cash loans are one of the best money lenders that offers loans to business owners and salaried individuals.
Rapid cash is an online lending platform that gives instant loans to people without collateral or a guarantor.
Their clients vary from business owners, private individuals, and corporate entities. Their mode of payment is easy and stress-free.
Types of loan Rapid cash offer.
- Payday Loans
- Installment Loans
- Title Loans
- Line of credit Loans
• Payday Loans:
A payday loan is a cash advance on your next salary. It is also called a salary advance loan.
So the amount you borrow plus the interest rate will be paid back on your next payday.
Rapid cash provides payday loans online, on your mobile phone, and in some selected locations.
• Installment Loans:
An installment loan is repaid with multiple fixed payments over a particular period.
Unlike a Payday loan interest rate, and installment accumulates daily until you balance your payment completely.
Rapid cash provides installment Loans online, on your mobile phone through their app, and in some selected locations.
• Title Loans:
This comes with a special package. For a title loan, there is a need for you to use your assets car preferably as collateral to get the loan.
A repayment schedule is more like an installment payment, where you have to meet up with the fixed repayment period hence the interest rate keeps accumulating. Rapid Cash offers title loans in all their locations.
• Line of credit Loans:
A line of credit loans is typically different from other loans. This cash loan type comes with a credit limit.
But the good news is, you can access your credit to the maximum amount anytime you need to, with a daily basis interest rate so it is advisable to borrow the exact amount you need at the moment.
You have all access to your credit line up to a year even after full repayment. So it’s so easy to get cash anytime the need arises again.
Rapid cash offers a line of credit loans online, on your mobile phone through their app and some selected locations.
What is the interest rate?
Rapid cash loan interest rate varies from clients to clients. Their rate is (31%-45%).
However, the rate is determined by different factors of which one of which is, the customer’s payment history and cost of lending to value the rate.
However, if you need a salary advance loan, you can only be given 20% of your salary.
Meaning someone who earns #100,000 has the power to borrow #20,000.
Who can apply for a Rapid cash loan?
A rapid cash loan is available for any individual who needs a short-term loan. Rapid cash is mainly for those who are unable to borrow from the traditional banks,
this is because Rapid cash is a short-term loan specifically designed for students, small businesses, and other individuals who are not eligible for bank loans.
Rapid cash loan requirements
Rapid cash loan requirements aren’t difficult to meet up with, it is straightforward. Here are the requirements:
- Your bank details
- Your bank verification number (BVN)
- Your birth certificate
- A valid identification card
- Home address
- Employment status
- Amount you want to borrow.
Rapid cash will automatically carry out a credit check the moment you apply for the loan, which may affect your credit score by few points.
Rapid cash options
Rapid cash has options such as a payday loan for salary earners, this is designed to offer overdraft to the staff of reliable companies or government staff in need of an instant loan.
To be eligible for this loan, all you are requested to do is to complete the salary advance loan and submit it for assessment. However, 30 days is the maximum period of repayment.
Rapid cash has been the best option for your instant loans because you get your loan in less than 24 hours of your request, coupled with their flexible repayment schedule which can be managed to fit in with your financial status.
This option requires no guarantor or collateral. The only insurance is the fact that it is meant for salary earners only and the maximum amount available is #50,000.
Rapid cash app
The rapid cash loan app is available on the Google play store.
All you need is a stable internet connection to download it and continue enjoying the quick loan.
Frequently Asked Questions
• Can you have two loans with Rapid cash?
The answer is no you can’t, you can not have more than one installment loan at the same time.
However, you may be eligible for other loans like title and payday loans. You can have these while still on an installment loan.
• Does it matter if I have bad credit or no credit at all?
Regardless if you have bad credit or no credit at all, Rapid cash Loans is aimed at helping people with their emergency financial needs.
So it is quite understandable that you might have had credit issues in the past.
• What happens if you don’t repay your Rapid cash loans?
You may be sued or subjected to call abuse and letters until you pay back fully.
Besides, why won’t you deliberately want to pay back? You can only delay the payment if unexpected occurrences happened.
Rapid cash customer care line
Rapid cash customer care lines are:
Bankruptcy department: (316) 425-1175
Customer service: (855) 734-0111
Toll-free number: (877) 315-8491
Rapid cash offers various loans unavailable in the traditional banks and connects with their customers through social media platforms because they
are aware that people spend most of their time on social media so, they have strategically designed their mode of operations in a way that captures the minds of their customers.
Youwin is a Nigerian focused Educational And Career blog, With the Vision To Inspire & Empower Young Persons; Helping Them Realise & Maximise their Potentials.
this articles was written by a team of bloggers for youwin.org.ng, the writer is a University graduate, he holds a degree in Economics from the University of Nigerian Nsuka (UNN).
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