PENALTIES AND FEES
WHAT IS THE PENALTY FOR DEFAULTING ON A LOAN?
Penal charge is applied to your account and accrues on a daily basis until it is settled. In addition, defaulting loans are reported to national Credit Bureaus and this can severely affect your ability to access loans in future.
WHAT IS YOUR INTEREST RATE?
Our interest rate is a flat rate charged monthly.
ARE THERE ANY FEES OR HIDDEN CHARGES ON YOUR LOAN?
Our loans attract a one-off fee of 2% of the principal amount, deductible from facility amount upfront.
I DON’T UNDERSTAND HOW I AM BEING CHARGED, WHO CAN I TALK TO?
Please call our customer service number +234 70 6589 4003 for more information on our interest rates.