This post contains all the essential Rapid Cash loan requirements.
Rapid Cash is really a great option when it comes to applying for and getting loans in minutes in Nigeria.
While their loan approval is fast and easy, you should know that there are some requirements needed before a loan is approved.
Generally, some online loan apps seek identity and address verification before they grant you a loan. But the major requirement on Rapid Cash is your BVN.
Of course, there are still more vital Rapid Cash requirements for loans apart from your BVN, and without them, your loan application will not be approved.
So, just take a seat, and let’s explore what the Rapid Cash loan requirements are in Nigeria.
What’s Loan Requirements on Rapid Cash All About
Rapid Cash loan requirements are those mandatory steps and procedures that must be taken to qualify for loans on the Rapid Cash App.
Generally, since Rapid Cash is a payday loan company, requirements to get loan approval are not that strict as you don’t even need to verify your address or identity before getting loans.
However, the little things that are required before your loan application is approved are very mandatory. Without them, you might not even be able to register on the Rapid Cash App, not to talk of getting your loan approved.
Now, what are the Rapid Cash loan requirements, and how can you easily qualify for a loan on Rapid Cash?
Rapid Cash Loan Requirements
The main requirements to get loan on Rapid Cash are Your BVN, your name, phone number, and a good credit score.
The Rapid Cash App
The first requirement to get a loan from Rapid Cash is to download the Rapid Cash App. This is because you can get a Rapid Cash loan only on the Rapid Cash Mobile App.
The app is available for iPhone and Android.
2. Your Full Name
The next and one of the most essential Rapid Cash requirements is your full name. This includes your First Name, Last Name, and Middle Name (Optional).
Keep in mind that the name provided must be the same as your bank account details, and BVN.
3. Phone Number & Email Address
Your phone number is another mandatory Rapid Cash loan requirements.
This is because after downloading the app and you’ll need to register with your phone number where a unique shortcode will be sent for verification.
An official email address is also one of the Rapid Cash requirements for a loan.
4. Bank Verification Number (BVN)
Without a BVN, you cannot get a loan on Rapid Cash. Therefore, your bank verification number must be readily available even before downloading the RapidCash App.
5. Bank Details
Your account number and name are also one of the Rapid Cash requirements for loan. Your Account number is will be used for fund disbursement after your loan is approved on the App.
6 Social Media Account
One Rapidcash loan requirements that made it a little bit different from other online loan companies is the provision of a verified social media account.
RapidCash requires you to verify your social media account with them so that they could get more information about you.
How to Qualify for Loan on Rapid Cash
In order to qualify for a Rapid Cash loan, you’ll need to be at least 18 years old, have a good credit score, and have a steady income.
More so, Rapid Cash may like to analyze some information about your debt-to-income ratio and your current monthly payments.
Now, let’s simplify the Rapid Cash loan requirements so that they can be more understandable.
Here’s a list of the most vital requirements to get a loan from Rapid Cash.
- The Rapid Cash App.
- Basic personal information such as name, age, phone number, next of kin, and occupation.
- Bank Verification Number (BVN).
- Bank Account details.
- Verified social media account.
Once you meet these requirements, you’ll be instantly eligible to get a loan from Rapid Cash.
Note: The more loan you take and how quickly you repay them, the higher the loan you’ll be granted by Rapid Cash.
Until you try some loan apps, you’ll see that the requirements of online loans are not as strict as people framed them to be.
I believe the Rapid Cash loan requirements provided in this post will help you easily and quickly get loans from Rapid Cash without worries.
Do you still have questions? Then, feel free to drop them down in the comment box below. I’ll be glad to help.