FAQ
General Informations
Complete our 100% online application and submit with the necessary documentation, this should take only a few minutes. Our team reviews the information provided and revert with a decision within 24 hours. If approved, you will receive funds directly into your preferred bank account within 12 hours of loan approval.
The amount you can borrow is in relation to your income. Your monthly repayment should not exceed 35% of your monthly income. You can borrow for up to a period 6 months.
You can borrow for up to a period 6 months.
How to Apply
From our website, complete the application forms with valid information, then use our calculator to determine the terms of your borrowing – (Amount and tenor) and view your expected repayment(s). Submit your application and we will notify you within 24 hours of the loan decision.
You may also visit our office at 2nd Floor, The Garnet Building, KM 18 Lekki Epe Expressway, Igboefon, Lekki, Lagos.
You can access up to N1,000,000.00. The amount you can borrow depends on your level of income.
- Bank statements
- Utility bill
Driver’s license with your current address
or PHCN / DSTV / Waste bill - National ID card
PVC or International passport or Driver’s license
Your BVN is used to verify that the individual applying for a Cashmatics loan is the same as the owner of the provided bank account. This is to prevent unauthorized use of your details by a 3rd party. Kindly note that providing your BVN does not provide access to your account. If in doubt, you may decide to confirm from your bank.
Just dial *565*0#. Please note: This will only work if you are making the request from the same phone number currently linked to your bank account.
You can send us a message on our web portal chat service or mail us on info@cashmatics.com.ng and one of our agents will respond swiftly.
You can also send us a message via any of our social media platforms; Facebook, Instagram, LinkedIn and Twitter.
It is imperative that we send your funds to your preferred account promptly. We request for bank account details as it is required to remit funds, if loan is approved. Kindly note that this must be a personal bank account in your name.
No, Cashmatics is not a bank. We do not receive deposits from the general public nor do we offer savings or current accounts services. Cashmatics has a money lending License to cater for residents of Lagos State
Cashmatics loans can be spread over a maximum of 6 months, depending on the amount and loan duration you will be able to service comfortably. Kindly note that repayments are due in monthly installments, and not repaid as a lump sum at the end of the tenure
- A valid employment, and/or confirmation letter
- 6 month bank statements of a salary account
- Staff ID card
- Another valid identification document (e.g. Driver’s License, International Passport, Tax ID, Voter’s Card etc)
To get started, Click on the apply now button on the home screen and confirm that all your documentation are available. Alternatively, call us on +234(0) 700 CASHMATICS or click on the ‘call me back’ button on the homepage.
Account Information
You will typically receive funds within 12 hours of loan approval. Kindly inform us if you do not receive payment within this time frame. However, kindly confirm from your bank balance before reaching out to us.
On rare occasions, a network glitch may cause delays even after we have effected transfer. Reach out to us and we will call our banks to see if the problem is on our side, if not you will have to call your bank account provider
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There are a couple of reasons for rejected loans, most of it due to incomplete documentation provided or not providing vital information. There may also be other reasons. As a responsible lender, we ensure credit is extended solely to the right profile of applicant, to manage our clients indebtedness.
Your client ID No is the unique number created by Cashmatics to identify you as a customer and pull up your records. It is displayed in all our correspondence with you and also sent to you via text upon your first loan application with us.
Kindly note this ID Number as it is the reference for quick and speedy identification.
Notifications are usually sent via email immediately after your loan application is sent. If you have not received either of these, please contact us.
Please log in to your Cashmatics Platform to view all details concerning your loan.
Payment Setup
Once your Loan is approved, your client-relationship manager will work you through the process.
Loan Repayment
On the due date(s) of your repayments, your payment will conveniently be deducted from the account linked to the REMITA application.
Since the repayments are automated; you cannot prepay this loan before the due date except if there is a complete liquidation of the loan
Early liquidation is accepted and you can apply for a new loan immediately your previous loan is paid off.
There are no penalties for early liquidation.
If you want to liquidate your loan; make a payment prior to your due date and notify us. Kindly send payments to:
Cashmatics Limited
FCMB
5887578016
We understand that financial circumstances can change, however, it is essential to note that we do not schedule repayment dates and you should only take a Cashmatics loan if you are reasonably certain you have the means to repay within the agreed period. There may be fees associated with late repayments. In addition, defaulting loans are reported to national Credit Bureaus and this can severely affect your ability to access loans in future. We therefore advise you make every effort to meet your obligations on time.
Kindly note that due dates are fixed when your loan is approved. We do not reschedule due dates, so kindly ensure appropriate planning to be able to meet repayments as at when due.
We want to maintain you as a valued customer, so kindly ensure that we receive your repayments on time. If you happen to be in a situation that makes it difficult to make your scheduled repayment, kindly contact us immediately by writing to info@cashmatics.com.ng
The default penalty is 1% on instalment amount for each day of default. If it exceeds 15 days, actions would be taken including but not limited to;
- Suspension of your access to our lending service
- Reporting to multiple credit bureaus
- Involvement with external collection agencies
- Possible legal action
Remember, we always want a WIN-WIN situation, a win for you is a win for us, so let us work with you in solving challenges with regards to repayments, and we can only do this effectively if we are informed timely enough during the loan period.
Data Verification and Security
At Cashmatics we do not share personal details, unless it is for dedicated business purposes, such as checking credit status with authorized Credit Bureaus. It is therefore important to ensure that you repay your loan on time so your credit history is not negatively affected. If you make timely repayments, this increases your chances of accessing credit from financial institutions in future.
You can order a self report on your credit history from any of the 3 nationally registered credit bureaus. You may contact:
- XDS Credit Bureau (www.xdscreditbureau.com)
- Credit Registry Services (www.crservicesplc.com) or
- CRC Credit Bureau (www.crccreditbureau.com) in order to
review
If you want to liquidate your loan; make a payment prior to your due date and notify us. Kindly send payments to:
Cashmatics Limited
FCMB
5887578016
We understand that financial circumstances can change, however, it is essential to note that we do not schedule repayment dates and you should only take a Cashmatics loan if you are reasonably certain you have the means to repay within the agreed period. There may be fees associated with late repayments. In addition, defaulting loans are reported to national Credit Bureaus and this can severely affect your ability to access loans in future. We therefore advise you make every effort to meet your obligations on time.
Kindly note that due dates are fixed when your loan is approved. We do not reschedule due dates, so kindly ensure appropriate planning to be able to meet repayments as at when due.
We want to maintain you as a valued customer, so kindly ensure that we receive your repayments on time. If you happen to be in a situation that makes it difficult to make your scheduled repayment, kindly contact us immediately by writing to info@cashmatics.com.ng
The default penalty is 1% on instalment amount for each day of default. If it exceeds 15 days, actions would be taken including but not limited to;
- Suspension of your access to our lending service
- Reporting to multiple credit bureaus
- Involvement with external collection agencies
- Possible legal action
Remember, we always want a WIN-WIN situation, a win for you is a win for us, so let us work with you in solving challenges with regards to repayments, and we can only do this effectively if we are informed timely enough during the loan period.