Introduction
Fast online loans are a type of personal loan that can be applied for and received quickly through an online application process.
These loans are typically unsecured, meaning they do not require collateral, and can be used for a variety of purposes such as debt consolidation, home improvements, or unexpected expenses.
Some lenders may offer same-day funding or quick approval, but the terms and conditions vary depending on the lender and the borrower’s creditworthiness.
There are lots of Fast Online Loan apps in Ghana, a new fast online loan app on the market currently is CUDLoan whose services are only available to citizens of Ghana over the age of 18.
Why You should choose CUDLoan – Fast Online Loans App over the lots?
As stated earlier, there are colossal amount of fast online loan Apps in Ghana, so why should you consider CUDLoan over them? Below are some few reasons why:
- No collateral and no paper work – get cash online within 1 day
- No need to go to the office or branch
- No hidden fees
- Apply in just 5 minutes. Easy and fast
- 24/7 online chat, email and phone customer support
- Fair loan conditions. We are fair and respect our customers
How to apply for loan with the CUDLoan App?
Folloq the steps below to apply for loan with CUDLoan.
- Download it to your device through the Google Store
- Use your personal information to register
- Ensure that the personal information used for borrowing is complete and accurate
- Submit the loan application and wait for the result of the review
- Once the loan application is approved, the loan will be paid directly into your account
CUDLoan INTEREST AND FEES
- Loan terms from 91 to 365 days.
- Loan amount ranges from GHS 100 to GHS 5,000.
- Loan interest: from 3% to 30% per annum.
- Origination fees range from GHS 4 – GHS 172 one-time charge
For Example:
• If you apply a loan of GHS 1,000 with a total repayment period of 91days (45 days 1st installment & 46 days 2nd installment) on January 3 2023.
• You will get the loan amount GHS 1,000 on January 3 2023.
• The 1st installment due date is February 17 2023 with amount GHS 500, Interest GHS 14 and origination fees GHS 10, due repayment is 500+14+10 = GHS 524
• The 2nd installment due date is April 3 2022 with amount Ghs 500, Interest GHS 7 and origination fees GHS 5, due repayment is 500+7+5=GHS 512.
• The total repayment should be 1st installment due repayment GHS
524+ 2nd installment due repayment GHS 512= GHS 1,036.
CUDLoan Contacts Info
Contact CUDLOAN- operating hours：09:00-18:00
Email: [email protected]
Address:9 Mankata Ave, Accra, GHANA
Conclusion
As usual, I’ve outlined Fast Online Loan Risks and Benefits below:
FAST ONLINE LOAN RISKS:
- High Interest Rates: Fast online loans often come with higher interest rates than traditional loans, making them more expensive in the long run.
- Short Repayment Terms: Fast online loans typically have shorter repayment terms, which can make it difficult to pay back the loan in a timely manner.
- Limited Credit Check: Some fast online lenders may not perform a thorough credit check, which can put borrowers at risk of defaulting on the loan.
- Scams: There are many fraudulent online lenders that may try to scam borrowers out of their money.
FAST ONLINE LOAN BENEFITS:
- Quick and Easy Application Process: Fast online loans can be applied for and approved quickly, making them a good option for those in need of emergency funds.
- No Collateral Required: Many fast online loans do not require collateral, which can make them accessible to those without assets to use as collateral.
- Flexibility: Fast online loans can be used for a variety of purposes, such as paying bills, covering unexpected expenses, or consolidating debt.
- Convenience: Fast online loans can be applied for and approved from the comfort of one’s own home, making them a convenient option for those who are unable to visit a traditional lender.
