Parallel Cash Loan app is a Fast, Safe and Guaranteed app with which You can have access to instant online loan up to NGN300,000 with generous and flexible repayment period anywhere in Nigeria.
Features Of Parallel Cash Loan
Maximum credit validity（ie the credit limit activation validity period）：2 years
Credit Line：80,000 NGN – 300,000 NGN
Repayment term：180 days – 280 days
Interest: APR: 12% – 30%
Examples Of Parallel Cash Loan Interest And Repayment computations
The following examples will help you understand our products:
1. If your line of credit is 80000 NGN, and you choose to withdraw 50000 NGN amount. Your repayment term is 180 days. Your interest rate 12% per annual.
Your one time processing fee is 300 NGN; Your interest is 50000*12%/365=16.4 per day.
You decide to repay the bill after 150 days. Your repayment amount is calculated as follows:
Principal=50000；
One time processing fee=3000
Interest=50000*12%/365*150=2460
Your total repayment amount=50000+3000+2460=55460
2. If your line of credit is 300000 NGN, and you choose to withdraw 150000 NGN amount. Your repayment term is 280 days. Your interest rate 30% per annual.
Your one time processing fee is 300 NGN; Your interest is 150000*30%/365=123 per day.
You decide to repay the bill after 200 days. Your repayment amount is calculated as follows:
Principal=150000；
One time processing fee=3000
Interest=150000*30%/365*200=24600
Your total repayment amount=150000+3000+24600=177600
Parallel Cash Loan As A Line Of Credit
Parallel Cash is a personal line of credit product (PLOC) that provides you with a preset borrowing limit. Once you are approved for your borrowing limit, you can withdraw any amount (usually with a minimum withdrawal amount) at any time and as many times as you want within the borrowing limit.
Parallel Cash Loan Flexible Repayment System
You can repay at any time according to your personal needs within the agreed maximum repayment period, and they will only charge interest during the period when you use the credit line. Once you complete the repayment, the corresponding amount will revert to your available limit.
Advantages Of Parallel Cash Loan
1. No fees will be incurred if you do not withdraw after the credit limit is approved.
2. The repayment period is long and flexible, allowing you to borrow and repay at any time within the agreed maximum period without incurring additional fees.
3. Flexible use, you can withdraw at multiple times or any amount within the limit according to your personal needs.
4. Revolving limit, after the bill is paid off, your corresponding available limit will be restored immediately.
Parallel Cash Loan Eligibility Criteria
1.Citizen of Nigeria
2.Have a fixed income
3.Age between 20-65
How To Get Started with Parallel Cash
Simply download the app from play store and follow the prompts.
Contact Details Of Parallel Cash
Address：1 Victor ldowu St, Lugbe 900107, Federal CapitalTerritory, Nigeria
Telephone：+234 09013263545
Email：Parallelnrluservice@outlook.com