KashBay Application Guide
Eligibility Requirements:
- Ghana Card: A valid identification card is required.
- Mobile Money Account: You must have a mobile money account registered in your name.
- Accepted Wallets: KashBay supports MTN, Airtel, and Vodafone mobile money wallets.
- Citizenship and Age: Applicants must be Ghanaian citizens and at least 18 years old.
Application Process:
- Download the KashBay App: Start by installing the app on your mobile device.
- Register: Sign up by entering your personal information.
- Complete the Application: The application process takes just a few minutes.
- Receive Funds: If your loan is approved, the money will be sent directly to your mobile money account.
The KashBay app offers the convenience of applying for credit anytime, anywhere. Once your loan is approved, the funds are quickly deposited into your mobile money account.
Loan Details:
- Loan Amount: Borrow between GHS100 and GHS6,000.
- Repayment Terms: Choose a repayment period between 91 and 365 days.
- Annual Percentage Rate (APR): Ranges from 12% to 24%.
For example, if you borrow GHS6,000 for a year at a 20% APR, your loan details will be as follows:
- Loan Principal: GHS 6,000
- Total Interest: GHS 1,200 (20% of GHS 6,000)
- Total Repayment: GHS 7,200 (Principal + Interest)
- Repayment Period: 365 days
This streamlined process ensures that you can access the funds you need with minimal hassle.