If there’s anything we must applaud technology for, Fintech must be one facet technology deserves to hurray.
Technology has automated delivery and enhanced the use of financial services.
The inception of Fintech has Aid Mankind in various ways which Mobile Loan is among.
Acquiring a Loan In Africa, Precisely In Ghana Is not guaranteed to be given either from the Bank, friend or a family member – Due to this people always find it tremendously difficult to implement their business ideas.
However, the introduction of Mobile Loan Apps In Ghana has come to ease our pain.
In This Article, we shall talk about how to get an Instant loan from CediNow Loan.
Related: Best 12 Mobile Loan Apps In Ghana – Get UpTo Ghc 2000 instant loan with them.
What is Cedi Now?
Cedi Now is a leading instant loan app in Ghana Which was launched on the 28th June, 2022.
As of the time of writing this article, CediNow top Charts of mobile lending app in Ghana on Google Play Store, with the likes of Fido loan, GhanaLending, and 4Cedi behind it.
Who Is Eligible For Cedi Now Loan?
The Eligibility of the Cedi now Loan Application are:
- The Applicant Must be a Ghana Resident.
- The Applicant Must be at the age of 20-55 years old.
- The Applicant Must Have Monthly Income Source.
What Makes Cedi Now Loan Better than Its Competitors?
You might have heard of lots of Mobile Loan apps in Ghana, So, You may be wondering why you should choose Cedi Now Loan Over the Others.
Below are the reason why you should Choose CediNow over the lots;
- They Have No Hidden Charges.
- You can get a loan of up to Gh¢ 5,000.
- 10 Days Tenure which is a bit better than that of Sikapurse(8 Days), LendingPapa(7days).
- They Are Available 24/7.
- They Are Secure, Reliable and Flexible.
- They Provide Credit Decision.
What is Cedi Now Interest Rate?
The interest rate for Cedi Now loan is as stated below:
Daily interest rate: 0.057%
Maximum annual interest rate APR: 20.80%
If you borrow GHS60,000, Daily interest rate: 0.057% with a 6-month loan.
The interest and total amount calculation:
Loan principal amount: GHS60,000
Service fee=Loan principal×Fees rate=(60,000×0)=0.00
Monthly repayment =(loan principal+ total interest)/(loan days/30）=(60,000+6,156.00)/(180/30)=11,026
Total repayment amount=loan principal+ total interest+ service fee=60,000+6,156.00+0.00=66,156.00
How To Apply For Cedi Now Loan?
Applying for Cedi Now loan is pretty simple and straightforwarded.
To Apply for the Cedi Now Loan, You will need to download their mobile App from Google Playstore (Click Here To Download) (DOWNLOAD THE APK TOO HERE)
Launch or open the app after a successful installation.
Accept all their policy, type in your phone number.
Cedi Now Sign Up
You shall receive a one time code on the phone number you use. Type that in the space provided to proceed.
As shown in the image below, kindly click on APPLY NOW.
Now, you are required to enter your personal information in this page.
- First Name (i.e Frank)
- Middle Name (i.e Osei)
- Last Name (i.e Nyarko)
- Gender (Male or Female)
- Date Of Birth
- Email address ([email protected])
- Alternate Phone Number
- Marital Status (Single, Married, Divorce)
- Schooling or not?
After click on next to proceed.
Now, you’d have to select two contacts as your reference numbers.
Cash Now would contact these people only if you default your loan.
Momo Wallet information
Type the Phone Number you will like to receive your loan with.
I recommend you uses the same number you used for the account creation.
Please do check all information is accurate before you click on NEXT!
Now it’s time to verify who you are with any government issued ID card.
Select the type of Card and Type the Identity Number in the space provided. Click next to go the final page.
Loan on your term
After You’ve submitted your information, the amount you qualify for shall be available in the next page.
Click on “Apply” and Cash Now Will Approve and disbursed the money into your momo account in few minutes.
Contact Cedi now
Cash NowCustomer Service Email: [email protected]
Cash NowCustomer Service Hotline: +233 0500881880.
Where Is CediNow Located?
Cedi Now is located in Tamale, below is their address.
Cedi Now Address: Post Box TL 2594, Tamale, Ghana.
Cedi Now Working Hours
Monday to Friday: from 9:00am to 6:30pm
Saturday – Sunday: From 10:00am to 6:00pm.
We are done for today, I hope this article helps you get an instant loan from CediNow.
However, You can as well try these Four lenders (Click Here) , Bloomkcash (Click Here), GhanaLending (Click here), LendingPapa (Click Here), SikaPurse (Click Here) and WohiaSika (Click Here)
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I won’t to join cedinow
Please I find it difficult downloading the APK