QuickCheck Loan: 6 Things You Need To Know Before Taking A Loan From QuickCheck

QuickCheck is one of Nigeria’s foremost Fintech institutions that uses artificial intelligence to predict borrower’s behavior  and automatically evaluate the loan application. After the evaluation, if the applicant is eligible the account will be credited and vice-versa.

Even though QuickCheck gives out collateral free loans, they have terms and conditions that guide their mode of operation. Hence, to be eligible to get their loans, you have to meet their terms. The loan term and interest rate of QuickCheck loan is not fixed because it’s dependent on the amount borrowed and the repayment plan chosen. 

However, the platform has claimed that they have been at the forefront of rendering excellent loan services to their esteemed customers. Some of the customers attested to that while some expressed displeasure on what they perceived as an automatic decline of loan application. Meanwhile, individual experience about the platform varies but we’re going to throw more light about the general overview of the platform in the subsequent section. Keep scrolling as I  walk you through the article. 

1. How Much Can You Borrow From QuickCheck Loan?

QuickCheck Loan

The amount of money that a customer can borrow from QuickCheck varies because it depends on individual credit scores for new customers and repayable history for existing customers. But new users are only allowed access to a small amount of money until they build trust with the platform before their loan amount can be increased but for an existing customer with a good repayable history, there is a high probability of getting a higher loan amount. 

In nutshell, the QuickCheck loan ranges from 1,500 – 500,000. But as I stated earlier, the amount that one can borrow is dependent on credit score and trustworthiness built with the platform.

2. QuickCheck Loan Interest Rate

The QuickCheck loan interest rate ranges from 2% – 30% for loan repayment on an annual basis. But for a loan repayment within a month, the interest rate may be about 5%

3. QuickCheck Loan Repayment Plan 

The QuickCheck loan repayment plan ranges from 91 days to one year. This repayment plan is not fixed because it varies depending on what the customer wants. 

4. QuickCheck Loan Requirements

GTo be eligible to obtain a loan from QuickCheck platform, there are basic criteria that a user must meet to be able access. If the user did not meet the criteria, the loan request will be declined automatically since the platform is programmed with an algorithm. Hence, it’s best to check the criteria before applying. Some of the requirements are penned down below;

  • The applicant must download  and install the QuickCheck app on their device
  • The intending applicant must have a Bank Verification Number(BVN)
  • Personal details of the applicant like full name, address etc must be handy
  • The applicant must have a functional bank account
  • The applicant must have a verifiable means of identification like national identity card, driver’s license.

5. QuickCheck Review

As we noted in the introduction, users of this fintech have different views about the platform. Some users expressed satisfaction with the services of the platform which is in accordance with the QuickCheck platform claims. However, some users have contrary views because according to them, the instant disapproval of the loan application is really frustrating.

Meanwhile, our check on the Play Store revealed that the app has over 170,000 reviews. In terms of rating, the app has 4.5 stars rating which is really good.

Our check on TrustPilot revealed that the app has no review on that platform but QuickCheck Nig. revealed that about 47% of users have positive views about the platform while 36% of users have negative views while the remaining 17% have neutral views about the platform.

Joshua has this to say: This app is fantastic and super easy to use, the developers did an awesome job and I recommend it for anyone who wants a quick loan without any stress or hassles. There’s also no sharing of personal information or data with third parties and I look forward for more easy access to even better loan contracts with quickcheck100%’’

Another customer – Idowu has this to say: ‘’Why are you suspending my account? Please let me introduce myself to you my name is idowu I need money urgently to do something’

Bottom Line

QuickCheck’s loan platform is real and it has helped most of their users to meet their urgent financial needs. However, some users expressed dissatisfaction with the instant loan application decline that they witnessed while using the platform. In all, it’s best to understand the terms and conditions of this platform before patronizing them.

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