Cashlion: Lending app that claims 2k to N50k loan but high interest

Cashlion: Lending app that claims 2k to N50k loan but high interest

Cashlion is a digital lending app that claims to give loan between ₦ 2000 – ₦ 50,000 and claim to pay directly into your bank account.

Cashlion Loan Applicant Requirement
* Age between 20 to 60
* Nigeria Citizenship

Cashlion Online Loan App offer:
* Loan Amount: ₦ 2000 – ₦ 50,000
* No hidden charges;
* Loan Term: 91 – 365 days
* Interest rate: 16% -21% APR
* Service Fee: 0

Example:
The customer borrows 1000 NGN for 180 days (6 months), the APR is 7.9%
So the total Interest would be 1,000 NGN *7.9 % = 79 NGN
The monthly payment would be (1000 NGN +79 NGN )/6 = 179 NGN.
The total repayment amount would be 1,074 NGN.
(NOTE: These numbers are just a representation for calculating the rate of interest)

How to Get Started with Cashlion

* Download the APP and register for an account.
* Get your loan disbursed into your bank account.
* Repay your loan with online bank account payment or or offline transfer to our company account.
* You can pay in full or make partial payments before due date.
* Repayment schedule keeps you on track with your payments.

CASHLION CONTACT US
We are always excited to hear from you!
If you have any feedback or concerns, please call us or by e-mail support@cashlion.ng

Message us on WhatsApp : +234 8109252549
Office Address: Lekki Phase, Lekki, Lagos, Nigeria

To download the app from Google Play, CLICK HERE.

CUSTOMER FEEDBACK

Maryam Abubakar
November 23, 2021
Cashlion is worst app ever. Very high interest rate + short period repayment. On top of that, whenever u repaid, u will never get the chance to apply for another loan, their helpless system will tell u that they have high demand. Worst experience I have with loan app and mind u, I always repaid all my loans from all loan apps before the due date. Never ever rely on this loan app to settle emergency needs before u will be stranded.

Olugbenga Apeyiomo
June 13, 2021
I have been a customer to Cashlion but the repayment days is too small and your interest is also high.Please work on this.The last time I loaned #10000 and the repayment is #13500 with an interest of #3500.Please it’s too much and 7 days is the deadline please work on it.

Peter Emmanuel
January 13, 2022
Wow! this cashlion app is ownsome and fast, the registration is easy to go with, but I think they have to look out at their first loan duration period it so Short, I will recommend this app to every one out their. In terms of fast crediting and registration. I will stick with them, while they are working on their lapses like reduction interest and repayment duration period and I also think they should remove the original feel of a thing and make their interest a favorable one. Tks Frm Mr p

Valerie Ejah
January 6, 2022
I have been using this app for almost a year now but they have refused to increase the loan duration from 7 days to 1 months that was why I stopped using it… You credit you very fast and give you high interest under the period of 7 days then from the 4th-5th day they will start reminding you to repay I don’t have peace with them at all…

Tessy Felix
October 22, 2021
I just can’t wait to clear my overdue loan with cashlion app. Because the way they treat and talk to customers on WhatsApp as if we are nobody. Thank God by monday or tuesday I will finally clear off my loan balance with them. The most annoying part is that, they don’t listen to customers explanations and which is so wrong for a financial institute. Once I clear off my loan, I honestly don’t think I would love to borrow from them again. Because they actually gave me a bad experience.

Michael Ifeanyi
November 22, 2021
Cashlion App can send someone back to the village if proper care is not taken. Their service/Interest rate is way too outrageous and the loan period is way too short. Imagine taken a loan of 21,500 to pay back 29,025 in just 7 days. I just managed to payback this loan today with annoyance in my heart. They immediately gave me a higher loan offer of 27,500 to payback 37,125 in 7 days. I have done the math and hell no! I ain’t taken anymore loan from this app. I have already deleted it. The most annoying thing is that the customer care will send you message on Whatsapp notifying of the loan repayment and they will not even reply any of your messages again. Please you people should kindly delete all my information from your database because you people can not come and send me back to village I reject it. Please try to work on your fees. Some other loan apps will give you minimum of 14days or 21days to repay with a considerate interest amount. Once you people adjust your interest fee and loan term, maybe I can borrow from you guys again. the app is nice and easy to navigate but the interest amount is deadly.

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JOIN THE QLA BUSINESS CLUB. SAVE, INVEST, BORROW MONEY WITH EASE.

1. Quick Loan Arena offers a social support initiative for members of its QLA Business Club.. The Club is to help members save and invest and earn monthly interest on their savings. It’s also for members to borrow soft loans at a very low interest rate for short term projects.

2. QLA Business Club will assist members raise pay day loans or soft loans for tenure up to one month.

3. You must be a member of QLA Business Club to be qualified to save, invest, earn interest or collect a loan or participate in the group activities.

4. To become a member of QLA Business Club, you must register with a membership fees of N5,000. After filling out our registration form.

5. QLA Business Club Members are expected to make voluntary weekly or monthly or fixed sum contributions which will earn 2% interest every month.

6. Loan amounts are N5k, N10k, N15K, N20k and N50k for tenure up to 30 days.

7. Members are free to invite other people to become members and shall be eligible to 25% of their registration fees as commission.

8. QLA Business Club loans are subject to a guarantee of 100% coverage of your loan amount partly in form of your savings and partly in form of 1 or 2 guarantors’ contributions who must be members of the club.

9. Loan disbursement commenced Tuesday 29th December, 2021 for members.

10. All members of QLA Business Club are hosted on a special forum where discussions and strategies are held regularly.

You can speak with any of our Loan Consultants for more information! Call or Whatsapp our business telephone (0) 915 382 1578.

Sign up and Join the Club.

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About the Author: Femi Adeoya

Mr Femi Adeoya is a Chartered Forensic Accountant and a Certified Fraud Examiner. He has over 20 years professional work experience in accounting, finance and business management processes. As an Accounting Software Expert, he has implemented and supervised accounting solution set up of over 50 small and medium businesses in Nigeria. As a passionate blogger, Mr Adeoya is an ardent writer and communicationist. He is the CEO of QUICK LOAN ARENA (quickloanarena.com), the number 1 loan apps review website in Nigeria. He is very passionate about the quick and instant loan industry in Nigeria and has written over 200 reviews on different loan apps and digital banks in Nigeria, USA, Canada and UK.

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