Tide Cash is a loan app available in Nigeria. It helps people get money fast through their phones. Many people use this type of app when they have a sudden need, like paying bills or solving an emergency. Tide Cash says its process is simple and fast. But how good is it really?
Let’s look at the features, terms, and what users should know before using the app.
What Tide Cash Offers
According to the Tide Cash app on Google Play, the company offers short-term personal loans. You don’t need to visit a bank or fill out long forms. You only need your mobile phone and some personal information to apply.
The app allows users to borrow up to ₦800,000. However, you may not get this amount on your first try. Most loan apps give smaller amounts at the beginning. If you pay back on time, they may increase your loan limit later.
Loan Conditions
Tide Cash says its loans range between 91 and 210 days. That’s about three to seven months. The company also claim to charge an annual interest rate between 10.95% and 18.25%. Again, this is lower than what many other loan apps charge in Nigeria. For example, some apps charge up to 30% per month, which can be very expensive.
From our experience, this is not entirely true. As a new user your credit limit is usually within the range of 5,000 and 30,000 and repayment period usually lower than 30 days.
Tide Cash also gave an example on its app. If you borrow ₦300,000 for 180 days, you will pay ₦16,200 in interest. That means your total payment will be ₦316,200. You may consider this to be fair compared to many loan apps, but you still need to take caution, double check all details during application process and repay on time to avoid extra charges.
Who Can Apply?
To use Tide Cash, you must:
- Be a Nigerian citizen
- Be 18 years or older
- Own a phone with your personal number
- Have an e-wallet
The app does not ask for collateral. This means you don’t need to give up anything valuable to get a loan. That makes it easy for people who have no property or assets to borrow money.
Application Process
Tide Cash says the application is simple. Everything is done in the app. There is no need for paperwork or office visits. You just install the app, register with your details, and apply. If approved, the money goes straight to your e-wallet.
The app claims to give clear and transparent information. That means you will see how much you owe, how long you have to repay, and what the interest rate is.
User Experience and App Rating
As of now, the app has mixed reviews on Google Play. Some users say they got their loans fast and the process was smooth. Others complain about issues with customer service or sudden deductions from their bank accounts.
Some people also say the app sends too many reminders or calls contacts if they delay in payment. This is a common complaint with many loan apps in Nigeria. These practices are seen as unfair or too harsh by some users.
Is It Safe?
Tide Cash says it protects your data. But like with all financial apps, users should be careful. Always read the privacy policy. Avoid sharing sensitive information like bank passwords.
Also, check if the app is registered with the right financial authority in Nigeria. As of now, there is no public record showing that Tide Cash is licensed by the Central Bank of Nigeria or listed under any approved lender list. This may raise questions about how it operates.
Customer Support
The company says customer support is open from 9:30 AM to 6:30 PM. You can contact them by email at vision@tidegenius.com. However, based on user comments online, some people have had problems getting replies. If you have questions, it may take time to get help.
Conclusion
Tide Cash offers short-term loans in a fast and simple way. Its interest rates are lower than many other apps in Nigeria. You can apply with just your phone. No need for collateral or long forms.
But the app is not perfect. Some users complain about customer service and how the app handles delayed payments. Also, there is no clear proof that Tide Cash is fully registered under Nigerian financial laws. This can be a risk.
If you choose to use Tide Cash, borrow only what you can pay back. Read all terms before applying. And never share your bank details or OTPs with anyone claiming to be from the app.
Using loan apps can help in hard times, but only if you use them wisely.
