SharpCash Loan App Review: online app in Nigeria

SharpCash loan app is a legit lending platform that provides short-term online loans to Nigerians. With just your Android phone to download the app and a good credit score record, you can get an online cash loan of between NGN 7,000 to NGN 200,000 within minutes of application.

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.

Online loans are easy to get because they require minimal documentation, and customers should not use them to fund their lifestyles. Online loans should only be used in terms of emergencies as they have extremely high-interest rates.

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

  • Download the SharpCashpersonal 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.

What other borrowers are saying about the SharpCash loan app

These reviews are from users on Google play store.

Abdulkarimi Ojo wrote, “The app is a little bit slow but it is reliable and have low interest rate.”

Peter Okafor wrote, “The are giving money Sharp sharp but the seven duration is too short.”

Batholomew Nwuchola wrote, “Seven days duration is not good for loan, we all are doing bussiness, it is time for we to report all this seven days loan, let them remove them all from play store.”

Note that these online loan apps are not licensed or regulated by the CBN or any other government agency in Nigeria. There availability on the Google play store does not make them legit, they can be removed at any moment. You are responsible for your own safety and security when dealing with online loan apps in Nigeria.

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

Product Features
1. Loans Amount: NGN 7,000 to NGN 200,000
2. Loan Tenure: 91 days ~ 365 days
3. The Annual Percentage Rate (APR) is 10%~25%
Please noted: Penalty is charged only when someone delays their scheduled payment.

If the loan amount is ₦20,000 for 91 days (3 months), the APR is 20%, the interest and total amount to pay on the due date is
Interest: ₦ 20,000 * 20% / 365 * 91 = ₦ 997
Principal repayment = ₦20,000
Total amount of repayment: ₦20,000 + ₦997 = ₦20,997
As the repayment period is for 3 months:
Monthly repayment is ₦20,997 / 3 = ₦6,999

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.

SharpCash loan app customer service number

  • Service Hotline: 0818883539 (9am – 6pm(Mon-Fri), Sat-9am-5pm)
  • Customer Service Email: [email protected]
    Address: E7/757 Oluyoro Street oke ibadan, Nigeria, 200263


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