You must have probably heard about QuickCheck Loan since its launch in 2017 and are probably curious about how the mobile app works.
Here, at techbuild.africa will be reviewing the mobile app, its interest rate, requirements and all other necessary things to note.
QuickCheck Loan was launched to solve the challenges of financial inclusion faced by Nigerians while improving access to credit facilities, such that the need for collateral, guarantors, queues, and paper are eliminated.
Requirement for QuickChek loan
The following are the requirement to get a loan from QuickChek:
- Bank account details
- Bank Verification Number (BVN)
- Good credit score: An applicant’s credit score is an important factor a lender considers when evaluating a loan application
- ATM card
- Personal information (such as your name, address, occupation and so on)
- You must have a mobile phone that can be used to collect and apply for a QuickChek loan. But if you don’t have enough available data, you can use your bank USSD code *894#.
- Employment details (self-employed can apply)
- You must be an adult basically above 18 years of age
Also read, Okash Loan: How to Apply/ Repay the Mobile Loan in Nigeria
How to obtain QuickCheck loan
- Create a profile.: Download the platform’s free app, then sign up for the account
- After signing up, you fill-up the personal information required like your Bank Details, and BVN
- Apply for a Loan: Apply and then your credit score will be instantly processed through machine-learning
- If you qualify, your cash will be disbursed within minutes to your bank account
QuikCheck’s Interest rate
QuickChek loan has interest rates starting from as low as 5% monthly on the first loan.
Also read, KiaKia Loan App Review: All you need to know
The loan term spans from one month to 1 year. You can borrow from the range ₦1,500 to ₦500, 000 but at your first attempt, you will be unable to borrow a big figure. You start with small loans then as you pay back you get a bigger offer next time.
The QuickCheck loan provides an alternative loan platform for some Nigerians who can’t meet up with the terms and conditions associated with obtaining a loan from the bank.
Overall, the great challenge that comes with obtaining loans from traditional banks drives the necessity of trying out an alternative means that makes loan acquisition easier and that’s why the QuickCheck loan platform is pushing hard since it’s capitalizing on the no-collateral bait.
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