Lily Cash Loan App Review, Is Lily Cash Loan App Legit? (Find Out)

Lily Cash Loan App Review, Is Lily Cash Loan App Legit? (Find Out)

Lily Cash is a popular loan app in Nigeria, designed to provide quick and easy access to loans for individuals in need of financial assistance. With a user rating of 4.1 stars and over 74,000 mixed reviews, it has garnered significant attention. In this Lily Cash loan app review, we’ll be looking into various aspects of the Lily Cash loan app, including is Lily Cash loan app legit or not, lily cash loan requirements, lily cash loan interest rate, lily cash loan app download, and more.

Without having to take your time, kindly get started now.

Lily Cash Loan App Review, Is Lily Cash Loan App Legit Or Fake?

Lily Cash Loan App Review

User Ratings and Reviews

Lily Cash has received a 4.1-star rating from users, reflecting a generally positive reception. With over 74,000 reviews, the feedback is mixed, indicating both satisfied and dissatisfied users. 

Many users appreciate the app’s ease of use and quick loan disbursement, while others have raised concerns about high-interest rates and occasional technical issues.

Is Lily Cash Loan App Legit?

Lily Cash is partially legit. While it is not approved by the Central Bank of Nigeria (CBN), it is listed on the Federal Competition and Consumer Protection Commission (FCCPC) approval list. 

This partial legitimacy means that while it operates legally, it does not have the full endorsement of the primary financial regulatory body in Nigeria. 

Despite this, Lily Cash has been known to borrow individuals loans as promised, fulfilling its primary function.

How Much Can I Borrow from Lily Cash Loan App?

Lily Cash offers flexible loan amounts ranging from ₦5,000 to ₦100,000. 

The exact amount you can borrow depends on your creditworthiness and other factors assessed during the application process. 

The app aims to cater to various financial needs, from small, urgent expenses to more significant financial requirements. Now let’s see the lilycash loan requirements.

Lily Cash Loan Requirements

To qualify for a loan, it’s quite important for you to meet the following Lily Cash loan requirements:

• Be a Nigerian citizen
• Be between the ages of 20 and 60
• Have a valid means of identification
• Provide a functional bank account
• Have a stable source of income

These lily cash loan requirements ensure that borrowers are capable of repaying the loans within the stipulated time frame.

Lily Cash Loan Interest Rate

The interest rates on Lily Cash loans can be quite high, with a maximum annual interest rate of 32%. 

For example, if you borrow ₦10,000 for a term of 180 days at an annual interest rate of 21%, the total interest would be ₦2,100, making the total repayment amount ₦12,100. 

It’s essential to consider these rates before applying for a loan to ensure you can manage the repayment.

How to Download Lily Cash Loan App

The guidelines below will show you the Lily Cash loan app download process:

For Android Users

1. Open the Google Play Store on your Android device.
2. Search for “Lily Cash Loan App.”
3. Click on the app and select “Install.”
4. Once installed, open the app and follow the registration process.

For iOS Users

1. Open the App Store on your iOS device.
2. Search for “Lily Cash Loan App.”
3. Click on the app and select “Get.”
4. Once installed, open the app and follow the registration process.

Lily Cash Loan App Login

To log in to the Lily Cash loan app, follow these steps:

1. Open the Lily Cash app on your device.
2. Enter your registered phone number.
3. Enter the OTP (One-Time Password) sent to your phone.
4. Once verified, you will be logged into your account.

How to Apply for Lily Cash Loan

Applying for a loan on the Lily Cash app is straightforward. Here’s a step-by-step guide:

Download and Install the App: First, download the Lily Cash app from the Google Play Store or App Store.

Register an Account: Open the app and register using your phone number. Verify your number with the OTP sent to your phone.

Fill Out Your Information: Provide the necessary details, including your full name, date of birth, address, email, personal ID number, and bank account information.

Read: How to Use Flexi Credit on PalmPay: A Step-by-Step Guide

Select Loan Amount and Term: Choose the amount you wish to borrow and the repayment period.

Submit Your Application: Review your information and submit your loan application.

Wait for Approval: The app will review your application and notify you of the approval status. If approved, the loan amount will be disbursed to your bank account.

Lily Cash Loan Customer Care

For any issues or inquiries, you can contact Lily Cash customer care through the following channels:

• Phone Number: 02018889599
• Email: [email protected]
• Office Address: 51 Apapa Wharf Road Expressway, Lagos

FAQs On Lily Cash Loan App Review, Is Lily Cash Loan App Legit Or Fake

The following are some helpful frequently asked questions on lily cash loan app review, is Lily Cash loan app legit with their respective answers:

Is Lily Cash Loan App Legit or not?

Lily Cash is partially legit. While it is not approved by the Central Bank of Nigeria (CBN), it is listed on the Federal Competition and Consumer Protection Commission (FCCPC) approval list. 

This means it operates legally but without the full endorsement of the primary financial regulatory body in Nigeria.

How Do I Download Lily Cash Loan App?

To download the Lily Cash loan app:

For Android Users:

1. Open the Google Play Store on your device.
2. Search for “Lily Cash Loan App.”
3. Click on the app and select “Install.”
4. Once installed, open the app and follow the registration process.

For iOS Users:

1. Open the App Store on your device.
2. Search for “Lily Cash Loan App.”
3. Click on the app and select “Get.”
4. Once installed, open the app and follow the registration process.

Is Lily Cash Loan Real or Fake?

Lily Cash is a real loan app that provides microloans to users. However, please note that it has high-interest rates and some users have reported technical issues. 

Always read user reviews and understand the terms before applying for any loan.

What Are the Lily Cash Loan Requirements?

To qualify for a loan from Lily Cash, you must meet the following requirements1:

• Be a Nigerian citizen
• Be between the ages of 20 and 60
• Have a valid means of identification
• Provide a functional bank account
• Have a stable source of income

What Is the Lily Cash Loan Interest Rate?

The interest rates on Lily Cash loans can be quite high, with a maximum annual interest rate of 32%. 

For example, if you borrow ₦10,000 for a term of 180 days at an annual interest rate of 21%, the total interest would be ₦2,100, making the total repayment amount ₦12,100.

How Do I Apply for Lily Cash Loan?

Applying for a loan on the Lily Cash app is straightforward. Here’s a step-by-step guide:

1. Download and Install the App: First, download the Lily Cash app from the Google Play Store or App Store.
2. Register an Account: Open the app and register using your phone number. Verify your number with the OTP sent to your phone.
3. Fill Out Your Information: Provide the necessary details, including your full name, date of birth, address, email, personal ID number, and bank account information.
4. Select Loan Amount and Term: Choose the amount you wish to borrow and the repayment period.
5. Submit Your Application: Review your information and submit your loan application.
6. Wait for Approval: The app will review your application and notify you of the approval status. If approved, the loan amount will be disbursed to your bank account.

How Do I Contact Lily Cash Loan Customer Care?

For any issues or inquiries, you can contact Lily Cash customer care through the following channels:

• Phone Number: 02018889599
• Email: [email protected]
• Office Address: 51 Apapa Wharf Road Expressway, Lagos

Conclusion

Lily Cash is a convenient option for individuals in Nigeria seeking quick and accessible loans. While it has its drawbacks, such as high-interest rates and partial legitimacy, it remains a viable solution for short-term financial needs. 

By understanding the app’s features, requirements, and processes, you can make an informed decision about whether Lily Cash is the right choice for you.