Unsecured online loans are loans that are offered online and do not require any collateral or security to be pledged in order to obtain the loan.
The lender relies on the borrower’s credit history and financial stability to determine the risk of lending the money.
These loans can be used for various purposes, such as home improvements, debt consolidation, or emergency expenses.
They typically have a higher interest rate than secured loans, as the lender is taking on more risk by not having any collateral to fall back on in the event of default.
There are lots of unsecured online loan Apps in Ghana, but one emerging one is RepidCedi which this article is ought to talk about.
Read on to find all the necessary information you need to know about this fast rising unsecured online loan app.
What Is RapidCedi?
RapidCedi is one of Ghana’s leading cash and unsecured online loan App. Personal loans, RapidCedi deposits loans fast and securely.
With no credit guarantees, the user can get cash loans online at RapidCedi, safely and securely.
RapidCedi offers the best loan service to the customer with low fees and no hidden costs. It mainly offers 91 – 180 days loan products.
RapidCedi Product Features:
RapidCedi Loan Amount: GHS 100- GHS 6000
RapidCedi Loan Term: 91-180 days
RapidCedi Loan Interest: 0.07% per day (1.8% equivalent monthly interest rate only)
Service Fee: 10%-32% (Deductible )
Estimate: An applicant who receives GHS 500 loan for a 91-day term in one-installment, would be charged on an annual interest rate of 25%, thus GHS 31 in 91 days, and a service fee of 500*32%/365*91=GHS39 for one time.
The total repayment fee is GHS500(borrowed amount) + GHS31(interest) + GHS39(service fee) = GHS570 in one installment.
• The borrower has the flexibility to make early repayments to reduce the above-stated interest.
What are the requirements of RapidCedi Loan?
You must be 18 years and above
You must have your Ghana ID
You must have a digital wallet account in Ghana(MOMO Account)
You must download the RapidCedi application.
Why choose RapidCedi?
- RapidCedi is free to use, no hidden fees
- They really fast approvals
- Same-day access to cash, no time to waste time.
- 24/7 support
RapidCedi claims to protects the information of all our users. They also claim never to give out your information to anyone without your permission.
Company address: Liberation Road, Accra, Ghana
We are done for today, I hope this article was helpful in your quest for getting an instant personal online loan in Ghana from RapidCedi?.