Kuda Bank Loans – Are you interested in getting a fast Overdraft loan from Kuda Bank well this article will enlighten you more on how to borrow money from kuda bank and more.
Quick Facts About Kuda
The Overdraft, according to Kuda Bank, is short-term protection that helps you keep your life running smoothly. If your account balance in your Spend account gets too low, you can always borrow money from your borrow account to cover your expenses and pay it back when you get paid.
Getting a Kuda Bank overdraft is as easy, it takes verifying your borrow account for qualification, typing the amount needed, completing the transaction, and spending right away because you’ll be credited immediately. Kuda bank will refund the funds to your borrowed account if you do not spend the entire amount
Brief History of Kuda Bank
Kuda is a completely digital bank with headquarters in London and head offices in Lagos. It offers comprehensive banking services through mobile apps, allowing many Nigerians with internet connections to manage their spending accounts and save money without worrying about traditional bank fees.
Kuda’s first credit product has been launched, allowing clients to get immediate loans through the Kuda mobile app. It also sets itself apart from digital wallets by offering consumers free debit cards that are sent without charges fee applied.
How to Apply for Kuda Bank Overdraft Loan 2021
- Open Kuda App and go to your borrow account by tapping or swiping.
- Click on Borrow.
- Get Your Overdraft by using the Get Your Overdraft button.
- Click on Next.
- Tap “Done” after you’ve typed in the amount you’d want to borrow.
- Use your transaction PIN, fingerprint, or Face ID to confirm.
- Once you’ve tapped Okay, you’ll be able to spend money from your account.
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How to Pay Back Kuda Bank Overdraft Loan?
Paying back a loan with the kuda app is as simple as having your spending account debited automatically. If you don’t have enough money in your Spend account to pay off your overdraft in full when it’s due, Kuda Bank says you’ll be refunded in installments as money is added to your account until you’ve paid off your debt
How much can I borrow from kuda bank Loans?
Pilot program participants are eligible to borrow up to 50,000 nairas with a daily interest rate of 0.3% of any amount they borrow. The amount that can be borrowed will change for different participants, depending on the credit reports and how much the participant uses in their account.
How do I activate overdraft on Kuda?
Open Kuda App and go to your borrow account by tapping or swiping. Click on Borrow. Get Your Overdraft by using the Get Your Overdraft button. then you click on Next.
How much is Kuda’s overdraft limit?
The latest Kuda update has unlocked Kuda Overdrafts of 150,000 nairas, a feature that will give you access to an overdraft of up to 150,000 nairas automatically if you use Kuda frequently as your main bank account.
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