Interest Rate | 35% |
Duration | From 7 days |
Access Level | Public |
Company Name | Cash mama |
Phone 1 | 07078670273 |
Phone 2 | |
Website or Store | |
Address | |
Category | Dangerous Loan |
Company Email | |
Views | 73 |
Cash mama
CashMama is an innovative intermediary that provides online loan services to users, accessible anytime and anywhere through our user-friendly mobile app. We aim to simplify the borrowing process while ensuring that you receive a tailored loan experience.
How It Works
Our loan application process is straightforward and consists of four simple steps:
Register: Begin your journey by creating an account on our mobile app. The registration process is quick and easy, allowing you to get started in no time.
Review: Once registered, you will need to fill out your loan information. Our advanced system utilizes big data analytics to review your application rapidly, ensuring that we can provide you with the best loan products suited to your needs.
Disburse: After reviewing your application, we will disburse the funds directly to your account. Our efficient process ensures that you receive your loan without unnecessary delays.
Repay: Finally, you will have a repayment plan tailored to your loan agreement. We aim to make repayment as manageable as possible.
A Good Loan Experience Awaits You
At CashMama, we are committed to providing you with an exceptional loan experience. Based on the loan information you provide, we ensure rapid authentication and accurately match you with products that meet your specific loan requirements. This means that borrowing is not only faster and easier, but also more selective to your financial needs.
Example of Loan Application
- Tenure: Ranges from 180 to 365 days
- Loan Amount: Up to ₦100,000
- Annual Percentage Rate (APR): Ranges from 10% (lowest) to 18% (highest)
For instance, if you choose to borrow ₦10,000 for a full year (365 days) at an APR of 15%, the interest charged would be calculated as follows:
- Interest: ₦10,000 * 15% = ₦1,500
- Total Amount Repayable: ₦10,000 + ₦1,500 = ₦11,500
With a repayment period of 12 months, your monthly repayment would be:
- Monthly Repayment: Monthly Repayment=₦10,00012+₦10,000×15%12=₦958.33\text{Monthly Repayment} = \frac{₦10,000}{12} + \frac{₦10,000 \times 15\%}{12} = ₦958.33Monthly Repayment=12₦10,000+12₦10,000×15%=₦958.33
About Our App
CashMama is designed to provide a quick and convenient loan service. After filling in your loan information, you can easily become a user. Our advanced data analysis allows us to quickly match you with loan products that meet your needs, making the borrowing experience not only easier but also more efficient.
Contact Us
For any inquiries or assistance, feel free to reach out to us:
- Email: cashmama999@gmail.com
- Service Phone: 88888888
- Working Hours: 9:00 a.m. to 6:00 p.m.
Discover a seamless loan experience with CashMama today!
Expert Counsel
CashMama Loan Practices: A Cautionary Guide
Aggressive Communication Tactics: CashMama employs intrusive methods to pressure borrowers. They will send SMS messages to your contacts, falsely claiming that you owe them money. This not only invades your privacy but also creates tension in your relationships as your contacts may believe the misleading claims.
Unrelenting Social Media Harassment: If you fall behind on your payments by even a single day, brace yourself for a barrage of distressing messages on WhatsApp. Their aggressive tactics can lead to significant emotional stress as they inundate you with reminders and threats.
Short Repayment Periods: CashMama typically imposes repayment schedules that last anywhere from 6 to 14 days. This short window makes it exceptionally difficult for borrowers to manage their finances effectively and settle their debts without undue strain.
High Overdue Interest Rates: Be prepared for daily overdue interest rates ranging from 5% to 7%. These exorbitant rates can quickly accumulate, exacerbating your financial situation and leading you further into debt.
Reputational Damage: Once CashMama tarnishes your reputation, their primary goal is achieved, and they may no longer require repayment. The damage to your creditworthiness and personal relationships can have long-lasting effects, leaving you vulnerable in future financial dealings.
Lack of Legal Recourse: CashMama operates without a proper license, which means they cannot pursue legal action against you in case of non-repayment. Their only strategy is to undermine your reputation, relying on intimidation rather than legal means to collect debts.
Avoid Debt Cycling: If you find yourself in debt to CashMama, refrain from borrowing from other loan apps to pay them off. This approach can create a vicious cycle of debt, making your financial situation even more precarious.
Screening Calls for Peace of Mind: Utilize apps like Truecaller to identify and block calls from CashMama. This proactive measure can help you avoid unnecessary stress and intrusive communication.
Breaking Free from Loan Sharks: The most effective way to liberate yourself from the grip of loan sharks like CashMama is to stop borrowing altogether. Committing to a debt-free lifestyle can protect you from future financial predicaments.
Take Action Against Their Practices: Protect yourself and others by blocking CashMama on WhatsApp. Additionally, report their practices to both WhatsApp and the Google Play Store. This helps raise awareness and prevents other potential victims from falling into their deceptive schemes.
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