Is Cash Now Legal in UAE? Get up to AED 5000, CashNow Interest Rate

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CashNow loans UAE offers accessible and affordable cash advances, enabling individuals to borrow up to AED 5000. Whether you’re an UAE resident or a national from a different country, Cash Now provides an easy and instant application process through their mobile app.

In this blog post, we will explore the various aspects of Cash Now loans, including interest rates, requirements, application process, app download, customer care, and the legality of the service.

CashNow Loan Interest Rate and Examples

CashNow offers a flexible loan term ranging from 91 to 180 days based on your budget and financial plan. The normal interest rate is 25% per year, with an additional 5% processing fee deducted from the net proceeds.

It’s important to be aware that interest rates can change over time, so make sure to verify the interest rate on any loan offer before proceeding.

Example: Let’s say you borrow AED 3,000.00 with a loan term of 180 days and an interest rate of 25% per year. Here’s how the breakdown would look like:

  • Monthly Payment: AED 562.50
  • Total Interest for the Entire Loan: AED 375.00
  • Processing Fee Charged: AED 150.00
  • Total Payment: AED 3,375.00
  • Effective Interest Rate (EIR): 18.4215%

Read this: Top 15 Instant Loan Apps in UAE for Quick Borrowing

Cash Now Loan Requirements

To be eligible for a CashNow loan, you need to meet the following simple requirements:

  • A valid Emirates ID.
  • A valid bank account.
  • Age between 20 and 55 years.
  • Being a UAE resident.

How to Apply for a CashNow Loan

Applying for a Cash Now loan is quick and hassle-free. Follow these steps to get started:

  1. Download the CashNow app from the Google play store.
  2. Register with your mobile number and complete the sign-up process.
  3. Verify your identity
  4. Apply for loan and submit all the necessary requirements through the app to complete your loan application.
  5. Wait for approval which can last for up to 24 hours.

CashNow Customer Care

If you have any questions or need assistance, you can reach out to CashNow’s customer care team via:

  • Cash now email address: help@cashnow.ai
  • CashNow Whatsapp number: 0097150-9783342
  • Facebook: @CashNow

Also, you can usually find the customer care option within the CashNow app for support.

Is CashNow Legal in UAE? How legit it it?

CashNow is a legal and reliable lender in United Arab Emirates (UAE), offering cash advances to individuals in need. You can borrow up to AED 5000 and pay back within 6 months.

However, as with any financial service provider, it’s essential to exercise caution and conduct your due diligence. While Cash Now is currently legal and regulated, it’s crucial to remember that companies can change over time.

Therefore, individuals should deal with them at their own discretion and make informed decisions when applying for loans.

Conclusion

CashNow provides an accessible and convenient solution for those seeking quick cash advances in the UAE. With its easy application process, flexible loan terms, and competitive interest rates, CashNow ensures that you can borrow responsibly based on your budget and financial plan.

Remember to meet the simple requirements, use the official CashNow app, and stay cautious while dealing with any financial services. Your instant cash needs are now fulfilled with Cash Now Loan!

All rights reserved. Do not copy, rewrite or republish this content, in part or in whole, without proper credit to the source.

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About the Author: Femi Olawole

Femi Olawole is a seasoned blogger with interest on providing helpful Contents on online loan apps, Tech and Business.

3 Comments

  1. You said they are legal to operate here in UAE. But they are not regulated by CENTRAL BANK OF UAE. Please clarify your Context thank you.

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