Mobile loans in Kenya 2022: Cashspree loan app

Introduction

Cashspree loan app is an online based lending platform that offers instant unsecured loans ranging from KSH. 800 to KSH. 50,000. Cashspree loans are instant, unsecured and fully done online without the involvement of any paperwork.

Judging by its online reception, Cashspree loan app is one of the best lending apps in the country with over a million downloads on google play store, rating of 4.4 stars out of possible five star rating and loads of positive reviews from those who have downloaded, installed and used the app.

In this article, I will discuss how to download and install cashspree loan app, how to borrow loan from the platform and answer some of the frequently asked questions about the app.

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How to download Cashspree loan app

To download Cashspree loan app, head to your google play store and enter the keyword Cashspree, the app will appear as the first search result.

After successfully searching for Cashspree loan app in your google play store, proceed to download and install the app.

How to apply for loan on Cashspree loan app

To apply for a loan on the platform, open the app and start the registration process. You will need the following to register on Cashspree;

• Must be 18 years and above

• Must have identification document (National ID or a passport)

• Must have a physical address

• Must have functional phone number with an active M-Pesa account

To register, you will be required to enter your details including legal name, ID number, phone number, physical address and other personal information.

You will then be required to confirm the details by taking a picture of your national ID both front and back to confirm your details.

After that, you will then proceed to confirm your details and a One Time Pin (OTP) will be sent to your phone number to verify the number. After that the details will be processed and your loan limit will be revealed on your app.

You can proceed to borrow any amount within your loan limit and it will be processed and disbursed to your M-Pesa account in less than five minutes.

How to repay your Cashspree loan

Cashspree loan still lack a paybill number. The payments are therefore done on the app. To repay your loan, log into your app and choose the loan option, proceed to pay loan and enter your phone number and a pop up message will appear on your phone requesting you to enter your M-Pesa pin to complete the transaction.

Cashspree loan app contacts

Email address: Cashspree2022@gmail.com

Phone number: 0709221909

Google play store

Cashspree loan app interest rate

Cashspree loan app charges an interest rate of between 10% and 20% annually, apart from the interest charged on loan, there is also a service fee of between 2% and 6% charged depending on the customer’s credit score.

Cashspree loan repayment period

Cashspree app gives customers period of between 91 days and 365 days to repay the loan. This period depends on the loan amount and it has direct impact on the interest one is going to repay at the end of the day.

Disadvantages of cashspree loan app

It has a service fee which most loan apps lack

It lacks a paybill number which makes it difficult to repay loan

It has inactive social media accounts which makes it difficult to contact them

Advantages of cashspree loan app

Cashspree loan app offers up to 361 days for their customers to repay loan

Cashspree loan charges as low as 10% interest rate which is favourable as compared to other apps

Cashspree processes loan within five minutes which is the shortest time possible