Care finance loan app is a personal finance loan app that allows you to obtain loan for your urgent personal needs anytime and anywhere you are in Nigeria at minimal interest rate using your mobile device to effect the transactions.
In this article we will discuss the features of care finance loan app, the benefits, it’s main terms and conditions including the interest rates based on the information available from the owners of the app. We will as well briefly discuss summary of reviews from customers who have used the app.
Main Features Of Care Finance Loan
- Care Finance is a Personal Credit Loan In Nigeria.
- It’s a Fast Easy Online Loan app for Nigeria.
- Users of Care Finance Loan-app can apply for personal loans up to NGN 100,000 anytime and anywhere.
- Interest rate can vary between 14.4% and 15.5% per annum..
Care Finance Loan – Major Terms and Conditions
Highlighted below are some of the terms and conditions for granting Care finance Loan:
1. Loan term: 91-180 days
2. Loan amount: NGN5,000-100,000
3. Interest rate: the minimum annual interest rate is 14.4% and the maximum (APR) is 21.5% (no additional fees)
4. Daily Interest Rate:0.04%-0.06%
Service fee: NGN 0
Care Finance Loan Interest
As explained above, Care Finance Loan Interest rate is between 14.4% and 21.5% pa.
Given below are examples of how Care Finance Loan Interest is calculated:
Example 1 : if the loan amount is NGN 10,000 with a term of 120 days and interest rate of 14.4%
The payment amount is calculated as follows:
Loan amount * Interest rate divided by number of days * Loan term + Loan amount (10,000 * 14.4% / 365 * 120 + 10,000) = NGN10,473
Example 2: if the loan amount is NGN 10,000 with a term of 91 days and interest rate of 21.5%
The payment amount is calculated as follows:
Loan amount * Interest rate divided by number of days * Loan term + Loan amount (10,000 * 21.5% / 365 * 91 + 10,000) =NGN10,536
Care Finance Loan- Main Requirements To Apply
To qualify to apply for Care Finance loan you must meet the following main requirements:
1. You must be aged between 20-55 years.
2. You must be a Nigeria citizen.
How To Apply For Care Finance Loan
Applying for Care Finance Loan is simple. Simply download from play store the Care Finance Loan app and follow the instructions and prompts accordingly.
Care Finance Loan- Reviews/Feedbacks from customers
Many of those customers who have used the Care finance Loan strongly recommend it as fast and reliable but complain about the interest as being too high.
Few others however complain that the customer service of care Finance is poor.
Care Finance Customer Care Contact Details
If you have need for further information, clarifications or even complaints, you may do well to Contact Care Finance Customer Care anytime using the details below:
Email: [email protected]
Customer Service Hotline: 018885168
Address: BANJO STREET OJODU BERGER LAGOS
Conclusion
From what we have considered so far in this article, it is clear that Care finance loan app is a personal finance loan app that allows you to obtain loan for your urgent personal needs anytime and anywhere you are in Nigeria at minimal interest rate using your mobile device to effect the transactions.
Care Finance Loan app has been seen by many as being reliable and fast.
So, when you have urgent need for funds for personal use, do well to check Care Finance Loan among other options you may have.