An instant short-term loan whenever you need it. No Paperwork and no embarrassments, just 0.3% as daily interest. The Kuda Overdrafts are short-term loans that are available to customers as long as they keep using their Kuda Bank account regularly. If you want to know How to Borrow Money from Kuda Bank, then go through this article to know more about it.
How to Borrow Money From Kuda Bank
Kuda Bank is one of the latest trending banks today and is the Kuda Bank Application. Being an online bank has made it very alluring and unique to the majority of youths. The Kuda Bank is packed with lots of other exciting features and perks that could make it a good substitute for the conventional banking system.
Without a doubt, it’s one of the finest fintech companies. The online-only feature of the Kuda Bank application makes it a bank that does not require its customers and users to visit any physical Bank to make transactions or even resolve any other problem that may arise when using the bank.
How to take Loan from Kuda Bank
More thanks to the Kuda Bank Overdrafts, it is possible to make quick short-term loans online without even doing any paperwork. Also, you can even decide to pay back at any time with just even 0.3% daily interest. Here is how to get the Kuda Bank Overdraft.
- Launch the Kuda Bank Application on your preferred device.
- Log into your account.
- Select “Borrow” in the list of options that says “Spend”, “Save” and “Borrow”.
- Then click on “Overdraft”.
- Click “Next” and input the amount that you would wish to borrow, then click “Done”.
- Confirm transaction PIN, face ID, or Fingerprint.
- Select “Okay”
Now you can start using the Kuda Bank Overdraft, free and easy.
How Overdrafts Work
- Sign up on Kuda and then Upgrade your account with BankVerification Number (BVN) and a valid ID.
- Use the account regularly – make transfers, buy airtime, pay bills, and many more.
- Then you automatically be offered the Kuda Bank Overdrafts.
How to Sign-Up on Kuda Bank
For you to be able to get the benefits and features that Kuda Bank has to offer you have to first create your account on Kuda, and the steps you need for that are here below. Follow them carefully to successfully do that.
- Launch the Kuda Bank application on your preferred device
- Then Select the “Open An Account” option.
- Select your country and click “Next”.
- Enter your “Email Address” and “Password”.
- Enter the Verification Code you received from Kuda Bank in your Email Address and click “Next”.
- At this point, you have to fill in your details such as your “Legal First Name”, “Middle Name”, “Last Name”, “Gender” and “Date of Birth.
- Enter your “Phone Number” in the required fields and enter the OTP send to your phone number.
- Follow all other prompts on-screen processes to complete the process.
You can only be able to create a Kuda Bank account only if you follow the guides listed above.
How to Sign In to Kuda Bank Account
After creating an account you must be signed in to be able to activate your account and enjoy the benefits and features that Kuda Bank offers its customers and users.
- Launch the Kuda Bank Application
- Select the “Already have an account? Sign In” option.
- Enter your bank account “Email address” and “Password to continue”.
- Click on the “Sign In” button.
- Create and Confirm the Passcode and then click the “OKAY” button.
Just as easy as that, follow the steps carefully to log into your account.
Can I Borrow Money from Kuda Bank?
No paperwork and no embarrassment, just 0.3% daily interest. Kuda Bank overdrafts are short-term loans and you can take any time as long as you use your Kuda Bank account regularly.
How Do I Qualify to Borrow Money on Kuda?
Kuda Overdrafyts is only available to those people that have been prequalified to use it. To be an eligible customer for that, you need to ensure that your account is upgraded with your Bank Verification Number (BVN), and valid ID, and must use your Kuda Bank account activity for a couple of months.
How much can Kuda Bank Borrow from me?
Participants in the pilot program could be able to borrow up to #50,000, at a daily interest of 0.3% of any borrowed amount. The amount available to borrow varies for different participants depending on credit reports and how much the participants that have been using their accounts.