JoyCash Loan App Review: online app in Nigeria

Online loan apps provide easy access to emergency loans with very minimal requirements. JoyCash is a Naira loan app that provides micro loan for emergencies.

With just your BVN and an ID card, you can get cash limit of up to #100k sent to your bank account within minutes. You do need to have a good credit score, and good SMS banking record on your phone to qualify for higher amounts.

This loan app is relatively new and has so far gained over 10k downloads on the Google play store with mixed reviews. It uses loan software to collect prospective customers’ information including phone records, banking transaction alerts, and BVN to build each borrower’s credit score.

Because of their minimal documentation and no collateral requirement, online loans are very expensive with high-interest rates. They should not be taken to fund one’s lifestyle but rather should only be used for emergency needs.

How to Download APK and get a loan from JoyCash loan app

  • Download the JoyCash personal Loan App exclusively available on the Google Playstore and install it on your Android phone.
  • Register an account with your phone number.
  • Preferably the phone number connected to your BVN as a one time password will be sent to it for verification.
  • Fill in your basic Know-your-customer KYC information, including your residential address, next of kin and employment details
  • You will also be required to provide your Biometric verification number BVN.
  • You’ll be charged N30 to bind your ATM card to your account to increase your chances and get a higher loan amount.
  • A one-time password OTP will be sent to your phone to confirm your details.
  • After the submission of your loan application, the software will analyze your credit score and the final result will be shown in the APP.
  • The result should be displayed in less than two minutes and if you qualify for a loan, the loan amount will be disbursed into the bank account directly.
  • Make sure you’re using a good phone with enough memory space as you will be required to take a clear live selfie for identity.

The N30 charged to bind your ATM card to your account is refundable, but can take anywhere from 7 to 12 business days for the money to be refunded back to your bank account.

Your BVN is linked to your credit score, so if you have an outstanding loan with other lenders or didn’t pay other lenders as at when due, expect your application to be rejected.

Note that online loan apps are not licensed or regulated by any government agency in Nigeria, you are responsible for your own safety while taking a loan from them as there is no way to make complain about poor service.

What other borrowers are saying about JoyCash loan app

These reviews are from users on Google play store.

Nelson Johnwill wrote, “I give it 3 stars. Instant disbursement. The only problem I have is that you don’t increase your loan offer after I paid 4 installments before the due date pls work on it… It is frustrating.”

Balogun Soliu wrote, “The app is really good but I have a problem I had a one-day overdue and later pay up but since then have been unable to get another loan it keeps telling me to apply again the next day please work on that for me.”

Omojero Happy wrote, “The app is awful. How do you approve a loan and say disbursement is successful when for over two days the recipient did not get the alert? I won’t be liable to any loan I allegedly received without receiving it. If you can’t work on your app then it’s no one’s fault because I won’t pay for a loan I did not receive.”

What are the requirements?

  • Be a legal citizen or legal Resident of Nigeria
  • Be at least 18 years old.
  • Have a Monthly income source.
  • Bind your ATM card to your account
  • Provide details of two of your next of kins including their phone numbers.
  • Have a good credit score with no outstanding loans from other lenders.
  • Have an active bank account.
  • Your phone number must be the one connected to your BVN.
  • Have a valid government issued ID card.

Interest rate

Loan Products
Eligibility:18 – 65 years old.
Loan period: we will require your repayment from 91 days to 180 days.
Loan amount: ₦ 5,000-₦ 500,000
Interest Rate: 0.5% to 3% monthly , APR 10%-35%,it depends on your credit evaluation.

For Example
If you choose a loan limit of ₦ 6,000.00 with a period of 360 days
The total interest must be paid: ₦ 6000.00 * 0.05% * 360 = ₦ 1080, monthly interest shall be paid: ₦ 6000.00 * 0.05% * 30 =₦90, monthly repayment bill including principle and interest shall be paid: ₦ 6000/12 + ₦ 90= ₦ 590, total repayment bill including principle and interest shall be paid: ₦ 6000.00 + ₦ 1080 =₦ 7080.

Note that this interest rate is just an example, your actual interest rate on the app will depend on your credit score and how much information the app can get from your device. Keep banking SMS records on your phone to increase your chances of getting a higher loan amount.

JoyCash loan app customer service number

  • Service Hotline: 0818883539 (9am – 6pm(Mon-Fri), Sat-9am-5pm)
  • Email: [email protected]
    Address: Ikeja GRA, Lagos State, Nigeria


A writer! Columnist and an academic researcher

One Comment

  1. This people are criminals they don’t have any office branch in Lagos run for your life they don’t want to pay me back my 53000 naira pls help to call them out ooo 09168337613
    I’m not happy with all this I will take this app CBN you people will not like my action if I’m the one who hear you people now you will call all my contacts and disgrace me this is my number 08169599937 I give you people 12:00 if I don’t hear from you you will hear from me in action okay you will lose some customers and your money too I promise you people that

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