Ultracash Loan App Review: Is Ultracash Loan Approved By CBN; Is Ultracash Loan App Legit Or Not?
Do you need a loan of up to the sum of N500,000 in Nigeria and want to give ultracash loan a trial?
Wait, read this ultracash loan app review first.
In this article, you will have in-depth knowledge about the legitimacy and authenticity of the loan app.
We’ve seen cases where people ask “is ultracash loan app legit or not, is it approved by CBN, what is the ultra cash loan interest rate, should I borrow money from ultracash loan app, how to get a loan from ultracash loan app etc. All these have been provided answers to in this ultracash loan app review.
Shall we get started now?
If affirmed, then let’s get started now.
Ultracash Loan App Review: Is Ultracash Loan Approved By CBN?
Ultracash Loan App Review: Is Ultracash Loan Approved By CBN; Is Ultracash Loan App Legit Or Not?
We’ve conducted our research and found out that the ultracash loan app is on the list of government approved loan apps on the FCCPC website.
This proves the authenticity and legitimacy of the loan app.
So, answering “is ultracash loan app legit?”, our answer is “Yes”. It is legit. However, there are other things you should also consider.
Some loan apps have been removed from the approval list for certain reasons. This often happens to loan apps with most loan apps with too many negative reviews.
Is Ultra cash loan app one of them?
Could it be one of them?
Let’s see here:
Is Ultracash loan app legit?
Yes, it is considered a legit loan app based on certain things which includes: It’s on the fccpc approval list, available on the Google play store although with less rating and reviews reason being that it’s a new loan app.
Read: New Credit Plus Loan App Review: Legit, (Read Guide)
As of the time this Ultracash loan app review was written, it has just 3.4 ratings, 11+ mixed users reviews, 10k+ downloads, the ratings and reviews should increase overtime.
However, if there are many negative reviews from unsatisfied customers, it may lead to its removal from the FCCPC approval list.
Ultracash loan requirements
The Ultracash loan app has certain requirements that applicants need to fulfill. Based on the real-time information, here are the loan requirements for Ultracash:
Age: Applicants should be between 18 and 55 years old.
Citizenship: Applicants must be Nigerian citizens.
Bvn: Borrowers must be ready to provide their bvn
Source of income: Borrowers must have a source of income.
Ultracash loan interest rate in Nigeria
The following is the ultracash loan requirements and breakdown:
Loan amount: ₦10,000 – ₦500,000
Interest rate (APR): Maximum annual interest rate is 30%
Example
If the loan amount is ₦10,000, the loan period is 365 days, the interest rate is 20%
Total interest: It should be ₦10,000 * 20%= ₦2,000
Total repayment: ₦10,000 + ₦10,000 * 20%= ₦12,000.
Ultracash Loan Repayment period: 91-180 days
Ultracash loan calculator
When applying for a loan and you’ve chosen the amount you want to borrow, the ultracash loan calculator will calculate your loan.
If you are satisfied with the rate you can proceed to taking the loan.
Ultracash loan app download
To download the Ultracash loan app, you can follow these steps:
Go to the Google Play Store or App Store by clicking the “Get Loan” button on this website. It is located at the end of this article.
Once you get to the Google play store, search for “Ultracash” in the search bar.
Locate the Ultracash loan app from the search results.
Click on the app to view more details.
Click on the “Download” button to start the download process.
Follow the instructions to complete the installation of the app.
Once the installation is complete, you are ready to sign up and login.
Ultracash loan login
To log in to the Ultracash loan app, you can follow these steps:
Open the Ultracash loan app on your smartphone.
On the login screen, enter your username or registered mobile number.
Enter your password.
Click on the “Login” button.
If you have entered the correct login credentials, you will be successfully logged in to your Ultracash loan account.
If you have forgotten your password, you can click on the “Forgot password” option on the login screen and follow the instructions to reset your password.
How To Apply For Ultracash Loan
To apply for an Ultracash loan, you can follow these steps:
Sign up for an account by providing the required information, such as your name, contact details, and identification documents.
Once you have signed up, log in to your Ultracash loan account using your username or registered mobile number and password.
After logging in, you will need to complete the loan application form. Provide the necessary details, including the loan amount you require and the repayment terms.
Submit your loan application through the app.
Wait for the approval process to be completed. Ultracash will review your application and assess your eligibility for the loan.
If your loan application is approved, the funds will be disbursed to your designated bank account or mobile wallet.
FAQs | Frequently Asked Questions
Here are some frequently asked questions on the ultracash loan app review with answers:
How much can I borrow from Ultracash loan app?
With Ultracash, you can borrow up to N500,000. However, the loan amount you qualify for may depend on various factors such as your income, creditworthiness, and repayment capability.
The final loan amount will be determined based on Ultracash’s assessment of your eligibility.
Ultracash loan app download: How do I download Ultracash loan app from the Google Play Store and Apple Store?
To download the Ultracash loan app, follow these steps:
For Android devices: Open the Google Play Store by clicking the get loan button on this platform, search for “Ultracash loan app,” and select the official app from the search results.
Tap on “Install” to download and install the app on your device.
For iOS devices: Open the Apple App Store, search for “Ultracash loan app,” and select the official app from the search results.
Tap on “Get” to download and install the app on your device.
How to get a loan from Ultracash loan app?
To apply for a loan using the Ultracash loan app, follow these general steps:
Download and install the Ultracash loan app from the respective app store.
Create an account and complete the registration process.
Fill out the loan application form, providing accurate and necessary information.
Submit the required documents as requested.
Wait for the loan approval process to be completed.
If approved, the loan amount will be disbursed to your designated bank account.
Is Ultracash loan legit or not?
Ultracash loan app is a legitimate lending platform.
However, it’s important to exercise caution when using any financial service.
Make sure to read and understand the terms and conditions, privacy policy, and any other relevant information provided by Ultracash before using their services.
How do I use the Ultracash loan calculator?
Ultracash may provide a loan calculator feature within their app or website.
To use it, you typically input the loan amount you wish to borrow and the desired repayment tenure.
The calculator will then generate an estimate of the monthly repayment amount, including the interest charges. This can help you get an idea of the potential costs associated with your loan.
Notice
Many loan apps change their interest rates and repayment terms over time. Always review the terms and conditions carefully before downloading any loan app. B4loan doesn't promote any loan app, we just help you make informed decisions.
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I wrote 15,500 on Ur dashboard to pay back 17,012 in 5 days only to credit my account with 11,925, please U people should take Ur money back, who pay 6,000 interested in 5 days
This app is very fraudulent I asked for 10000 naira, you then decieved urself that you disbursed 34k but ended up sending 26k to my acct. Then ask me to pay 37,600 .The worst app ever .
I was credited 24k by u guys to pay 34k who does that 50% in just 5 days it is very high is either u reduce it or take Ur money back or else u would call tire
You guys are the biggest criminals ever well am not worried if you like call heaven and earth not paying back anything what sort of nonsense is that
Same thing happened to me. Ultracash are fraudsters. It was even a mistake to proceeded with the loan. I want to repay back now they didn’t display any mode of repayment account
We’re sorry this happened to you. However, we’ll encourage you to explain this to their customer care. Their contact options should be found within the app. Thank you.
Y do u guys message contact Be4 the set time….. U guys are thief ur interest is same with the money borrowed
Run infact flee from this app they are thieves
I wrote 24900 on Ur dashboard to pay back 26850 in 5 days only to credit my account with 18675 please U people should take Ur money back, who pay 8000 plus interested in 5 days. Give me account l will pay your money back o
I wrote 8100 on your dashboard to pay back 8670 in 6days only to credit my account with 5670 please U people should take Ur money back, who pay 3000 plus interested in 6 days. Give me account l will pay your money back o
Why none of the mobile lines you provided for customer care is connecting?
The amount i requested is not what I’m given, please collect your money and let me have my peace, send me your details now. Thanks
It’s a fraudulent app. They are deceptive to the innocent customers. They disbursed lower amount than they display on the app and start to call within 5days. Let everyone reports them to efcc and cbn right away. I’m doing that immediately through my lawyer
Pls, can I get their customer care contact, email etc cos it’s nowhere on their app
I was to get a loan of 12100 to pay back 12947 in 6 days time only to be disbursed 9000. I can’t find any contact on the app to log complain.
There’s no way am repaying that amount ( the best and fair thing is to refund your money now or repay the equivalent for 9000)
I have repaid all my loans 194k but not reflect on my dashboard since last month,your people started threatening me on d money I paid in full. Day before ystydy one guy from ur company started abusing me dat I should pay anoda money just to close my dashboard,he threatened to tarnish my image. He said I should pay 57k again which I paid. Uptil now he didn’t do anything on the dashboard. You people are just using my dashboard to threaten me. And am not owing you. Do something on time thanks
The loan app is a thief …….
I applied for 12100 to repay 12965, only to be credited with 7865 , so u expect me to pay 5k in 6days as interest , I hav resend the money back immediately if u lik keep calling thief’s