How To Get Loan From Kuda Bank

Looking for how to get loan from kuda bank? Here in this article, we will be walking you through with a video and step by step on how to get loan from kuda bank and everything you should know about kuda bank and App

One of the most popular banking apps available in Nigeria at present includes the Kuda Bank app. The fact that it is an online-only bank makes it unique and appealing to the vast majority of young people in Nigeria.

Kuda Bank is a great alternative to traditional banks. Kuda Bank is also packed with other features that make it a great alternative to the traditional banks in Nigeria. In my opinion, it’s one of the most innovative fintech firms in Nigeria. The exclusive online feature that is available in the Kuda app is a bank that doesn’t require users to go to any physical bank to conduct transactions or solve any issue that may occur.

This is because of the stress that people experience when they visit physical banks. This can result in long lines, which take time and prevent those who want to achieve their goals from visiting the bank. In this post, we’ll explore everything concerning how to get loan from kuda bank, and the unique attributes that make it reliable and a good alternative to traditional banking.

Before you can get a loan on kuda bank you will need to register, let’s look at the steps to help you sign-up to Kuda app, before applying for the loan.

How do I sign up for Kuda bank App?

Here is how to sign up/register for Kudaapp.

1. Install and run the app.
2. Select the sign-in option if you’re a brand new user.
3. Complete the necessary information. It will contain the email address you use, your password, and your referral code. You can utilize a referral code to sign-up in the event that someone you know suggested you join the platform.
4. On the second screen, you can enter your name, first name, and last name.
5. Enter your gender and date of birth, as well as your contact number on the next page.
6. Verify your number using the OTP that you may receive through the number you provided. The next step is to enter the information of your street’s name, city, and state.
7. Then, you’ll be asked to take one selfie, and that’s all. You’re now a legitimate kuda bank user.

Kuda Account

After registration, you will have to create an account. The Kuda application will give you an account number which will be used by you to make transactions.

There are three kinds of accounts with unique names that you are able to use. These are: 

• Lite 
• Basic 
• Premium

Lite Account – It is only necessary to enter your name and phone number to sign up for the Lite account,

Basic Account – To sign up for this account, you will require a name and phone number, and BVN to sign up

Premium accounts – are the most expensive level. To be able to sign up, you’ll need an address, a phone number, a valid ID, and BVN.

The premium account allows you to transfer money as high as 250k at a time and the maximum amount of transfers daily increased to N1 million. However, the maximum limit is set at 500,000 at the point of sale.

How to get loan from Kuda Bank?

Now, here is how to get loan from kuda bank; through Kuda Bank’s Overdraft facility, you can get a fast long and short-term loan online without completing any formalities. You can also decide to repay the loan anytime with only 0.3 percent per day interest. Here’s how to get loan from kuda bank overdraft:

• Start Kuda
• Click On Lend
• Click On The Get Your Overdraft Button.
• Click Next.
• Enter The Amount You Wish To Borrow, Then Click The Button Done.
• Verify Transaction’s Pin, Fingerprints, Or Face Id.
• You Can Click Ok and You’ll Be In A Position To Spend Money On Your Account.

Watch Video on how to get loan from kuda below:

Bonuses and coupons for Kuda Referral

To be eligible for the bonus for referrals you must refer an individual customer who is interested in opening an account by downloading and registering with the app.

The bonus you get is N200 for every single person you successfully invite/refer to open an account using your kuda bank app.

If you wish to apply for a loan, you should check out this loan platform kuda which allows you to evaluate loans in just a few minutes. It provides the highest quality and assures you the best deal.

Frequently Ask Questions About Kuda bank

Not only do people ask about how to get loan from kuda bank, or how to register for kuda bank, but here are some other questions people have been asking.

Who owns Kuda Bank?

Babs Ogundeyi serves as the Chief Executive Officer of Kuda Bank. He attended Brunel University in London and has been in working within the confines of financial services for the greater part of his life. His work is focused on both the private and public areas of Nigeria.

Ogundeyi was part of the founding of the first car classified magazine, known as Motor Trader Nigeria which Financial Standard acquired later and became a well-known Nigerian newspaper company.

What is the KudaBank App?

Kuda bank is mostly a traditional bank, but it does not have a physical branch located anywhere.

The monetary institution is online and performs banking operations using a valid bank license issued by the CBN (Central Bank of Nigeria). The bank is specially designed for mobile users.

It is possible to install and use Kuda bank App?

Yes, the Kuda bank app is a mobile platform you can download on your mobiles such as iPhone, Android, and Windows. It’s also important to know it’s completely free of stress and allows you to bank at your convenience which could include at your home, church, school, or any other location.

Additionally, anyone with an Android smartphone is able to use this Kuda Bank app because of its user-friendly interface, which allows easy navigation and performance of the application.  They’ve also improved it to load faster and therefore will allow faster transactions.

Thanks to the technological and digital power; the use of Kuda isn’t subject to any fee for service. Its goal is to make banking more efficient for every African in the world.

How does the Kuda App work?

Kuda Bank app allows its customers to check their accounts with no fees, just like conventional banks, and also offers free transfers of money to different Nigerian banks, as well as free debit cards as well being able to provide the option of loans for customers.

This is a mind-blowing offer to potential customers due to the high fees paid by traditional banks for similar services such as transferring funds to banks that are not affiliated as well as debit card issuance and ATM maintenance of cards.  It is also crucial to know that the savings earned through this app are paid to borrowers on loans with interest rates that are specific to the loan.

The savings can also be invested in other assets and the profits from these businesses will be credited to the bank.

There is no need to worry as this is the exact method by which traditional banks make money. The main difference is that Kuda Bank has a lower cost of borrowing than the other banks. The profits of the investment created through Kuda Bank are sufficient to manage the bank due to being that they do not construct physical branches.

Application Download KudaBank is available for IOS and Android users

Because the app is designed for smartphones; it can only be accessible to users of Android and Apple devices.

You can find and download it from both the Apple application store and the Google Play Store.

Conclusion – How to get loan from kuda bank

We have walked you through on how to get loan from kuda bank and everything you should know about kuda bank and App. It is certain that the Kuda Bank app which is the top digital bank will be around for a long time.

It is not only easy to use, but it’s also user-friendly, as it has no charges for maintaining your bank account or card in contrast to other traditional banks. While Kuda Bank still has a need to prove to the public its trustworthiness and reliability, it is an exciting development and serves as a model for other banks in Nigeria.