Are you looking for a quick and easy way to get a fast personal loan? Look no further than cocoaloan!
Their app makes getting a personal loan easy and fast. With just a few minutes of your time, you can have the money you need to cover any unexpected costs.
Plus, their low interest rates make borrowing easier than ever.
So why wait? Read on how to sign up today and get started on your fast personal loan!
What Is CocoaLoan?
Cocoaloan provides Financial services for online emergency cash loans anytime, no collateral required. When applying, users can choose different time periods to repay the loan according to their needs.
Applying digital technologies with data security at the bank level to protect user privacy.
As of the time of writing this article, Cocoalon is the second most popular finance app on Google playstore, Fido emerges number one.
What are the uses Of the Cocoaloan app?
With the Cocoaloan app, you can.
– apply for your loan
– View your loan information
– Apply for deferment of repayment
-Repayment of loans.
CocoaLoan Loan Amount, Term and Interest Rate
Loan amount ranges from GH₵ 100 – GH₵ 100,000
– Repayment period from 3 months to 24 months
– APR from 3.5% to 12% per annum
– Handling fee from 2.5% to 5% (18% GST applies)
– You may be charged a daily late fee of up to 0.1% (capped at 18% of the overdue principal.)
There are no other hidden fees that apply to your loan.
– Credit GH₵5,000 at 12% APR (per annum) for 61 days
– Loan interest = GH₵5,000 x 12 %/ 365 x 60 =GH₵100
– Loan fee = GH₵5,000 x 3% = GH₵125 (also applies to GST of GH₵27)
– Total cost of loan = GH₵225
– Total loan amount disbursed is GH₵4,848 (GH₵5,000 – GH₵152 )
– The total loan amount to be repaid is GH₵ 5,100 (GH₵5,000 + GH₵100 )
– Monthly repayment GH₵ 2,550
• Borrowers have the flexibility to prepay at any time, reducing the above fees.
Requirements for applying for a loan with Cocoaloan app
• 18 years or older
• Ghanaian bank account holder.
• Have a good credit history.
Take notes of these hint
- All loans are subject to credit approval.
- On-time repayment enables higher terms and amounts. Enjoy your credit the smart way!
- PRIVACY: When you download cocoaloan, they will ask you to authorize access to your phone information to verify your identity and determine if you are eligible for one of their credits. Your data is protected by the highest global security standards and they claim never to share your information without prior authorization.
📧CocoaLoan Email: [email protected]
🕖CocoaLoan Customer Service: Monday to Sunday 9:30 am to 19:00 pm
🏠Cocoaloan Company address: 3P5H+XWV, Kamompa, Ghana.
In conclusion,the cocoaloan app is a great way to get a fast personal loan.
The process is simple and the loan amount is flexible, so you can get the money you need quickly and easily.
So if you’re in need of a quick cash infusion, the cocoaloan app is definitely worth considering.
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