All Your Questions Answered – Kuda Personal Loans

Are you looking for a quick and easy way to access funds for your personal or business needs? You may be interested in applying for a Kuda personal loan. Kuda is a digital bank that offers loans with competitive interest rates and flexible repayment terms. In this guide, we'll delve into the specifics of the Kuda Bank personal loan, addressing all your pressing inquiries about Kuda bank personal loans, from eligibility criteria to Kuda bank ussd code and loan disbursement methods.

Kuda Personal Loan

Kuda Personal Loan is a one-off payment made into your Kuda account which you'll repay, with interest, in fixed monthly payments. The loan gives borrowers up to N200,000 in minutes. Borrowers can also boost their loan offers by providing a guarantor.

Requirements

1. Valid ID for each signatory (International Passport, National Driver’s license, National ID Card).
2. 1 passport photograph.
3. 6 months bank statement (Salary Account).

FAQs About Kuda Personal Loan

Here are some frequently asked questions about Kuda Personal Loans.

Who is eligible for a Kuda Personal Loan?

To be eligible for a Kuda Personal Loan, you must:

1. Be a Nigerian citizen or resident.
2. Age of 21 – 55.
3. Be employed and have a regular monthly income.
4. Good credit history.
5. BVN.
6. An active Kuda account with a minimum balance of 1,000 naira.

What are the benefits of a Kuda Personal Loan?

Kuda Personal Loans offer a number of benefits, including:

1. No collateral required.
2. No hidden fees or charges.
3. Fast and easy application process.
4. Instant approval and disbursement.
5. Competitive interest rates and flexible repayment terms.
6. Access to financial education and tips

What documents do I need to apply for a Kuda Personal Loan?

To apply for a Kuda Personal Loan, you will need to provide the following information:

1. Name, email address, and phone number.
2. BVN and date of birth.
3. Employment status and income.
4. Bank account details.

How to Apply for a Kuda Personal Loan on nairaCompare

1. Click on ‘Kuda Bank’

2. Read through the information on the product page to get more details about the product.

3. Click on ‘Apply’ to begin the application process.

4. Fill in your personal details.

5. Submit your application form for review and processing.

6. After successfully reviewing your application, you will receive an email notification confirming your application.

Before applying for a loan, it is important to compare options in order to select a loan that’s best suited to your needs and circumstance. nairaCompare has a wide range of loan options you can compare and choose from.

Visit nairaCompare and start comparing the Kuda loan to loans from other trusted providers!

What is the repayment term for a Kuda Personal Loan?

The repayment term for a Kuda Personal Loan is from three months up to 24 months.

What is the interest rate for a Kuda Personal Loan?

Kuda Personal Loan is offered to customers at a 2.5% monthly interest rate.

How do I repay my Kuda Personal Loan?

You can repay your Kuda Personal Loan through the following channels:

1. Automatically from your Kuda account on the due date.
2. Manually through the Kuda app or website.
3. Through any other bank in Nigeria.

What happens if I default on my Kuda Personal Loan?

If you default on your Kuda Personal Loan, you may be charged late fees and interest.

Your credit score will also be affected. In some cases, Kuda may take legal action to recover the loan amount.

How much can I borrow from Kuda?

The loan amount for a Kuda Personal Loan starts at N50,000 and could go as high as N200,000.

Visit nairaCompare to learn more about the Kuda Bank Personal Loan and other loans available.

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