Loan terms and key facts

1. Our loans and their price

• Amounts: from ₦5,000 to ₦5,000,000, depending on the loan and on what our checks allow you.
• Length: from 1 month to 6 months.
• Interest: 5% a month, flat, on the amount borrowed. Flat interest is worked out on the amount you borrow and is the same every month.
• Processing fee: 3% of the amount, added to your monthly repayments.

Example: Borrow ₦50,000 over 3 months at 5% a month, flat, with a processing fee of ₦1,500: you repay ₦59,000 in 3 monthly payments (₦19,667, the last ₦19,666). Only borrow what you can repay.

2. The key facts you see before you accept

You agree to these loan terms, the key facts rules and the repayment terms once, when you submit your identity check (KYC). Each loan you then ask for is made on these terms and on the figures shown for that loan.

Before you press Get Loan, the Get a loan page shows you, in exact amounts:

• the amount you borrow, the fee and the amount you receive;
• the monthly rate and how it is worked out;
• every monthly payment and its date, with the part that is interest;
• the total you repay and the total cost of borrowing;
• the late fee, the early payoff rule, how you repay, any guarantors, what happens if you miss a payment, and how to complain.

Take your time to read them. Nothing is lent until you press Get Loan, and nothing is paid out until final approval.

3. How a loan is decided

After your checks, the app shows a Proposed Offer: the most you can borrow today. It is valid for 7 days. You may take all of it or less.

When you accept, we finish any checks still open and, if needed, ask your guarantors to confirm. Then we give final approval. If the final amount is lower, we show you a revised offer and pay nothing unless you accept it. If it is higher, your loan stays as you accepted it and the extra is offered as a separate Counter Offer you may take or leave.

If we cannot reach a final decision within 24 hours, the request ends and you may apply again. If we say no, we tell you why, and you may apply again after 6 days. You can ask a person to review any decision in the app.

4. Accepting and signing

You accept a loan by pressing Get Loan, with your money PIN when the app asks for it. This is your electronic signature, and it binds you as a signature on paper would under Nigerian law, including the Evidence Act 2011. We record the time, the internet address and, when your phone allows it, the place.

We send your agreement to you at once by SMS and email, and keep a copy you can open in the app. It takes effect at final approval; until then you owe nothing.

5. Payout

We always pay the amount you receive into your Member Wallet. From there you may spend it, pay bills or move it to your own verified bank account. The processing fee is taken from the payout, so you receive the loan amount less the fee. Your first payment date counts from the day of payout.

6. Repaying

Each monthly payment is taken from your Member Wallet on its due date, and whenever money arrives in it while a payment is due. If the wallet does not hold enough, we may charge a card you saved with us, for the amount due only, and we tell you each time. You agree to this when you accept these terms. You may also pay by card or bank transfer in the app at no extra charge.

If a lower amount is approved than you asked for, the loan is made on the same terms for that amount, and the app shows you the new figures.

We remind you 3 days before each due date. A payment is used for the oldest unpaid month first: late fees, then fees, then interest, then the amount borrowed.

7. If a payment is late

• Late fee: If a payment is late, the first 2 days are free. From day 3, 10% of what is unpaid on that payment is added, and again each month it stays unpaid..
• Reminders: only between 8am and 8pm, at most 3 contacts a day across every channel.
• From 31 days late you cannot take a new loan until the late amount is paid, and the guarantors linked to that loan may be contacted.
• From 91 days late the loan is in default and we start recovery, which may include reporting to licensed credit bureaus and going to court.

If you are struggling, talk to us early. We can agree a new payment plan or a settlement in writing; your guarantors are told about a new plan.

8. Paying early

You may repay part or all of your loan at any time. To pay off in full: Pay everything early at any time: what is left of the amount borrowed, this month's interest, 2% of what is left, and any unpaid fees. The interest for later months is cancelled.. The app shows the exact amount, valid until midnight. A part payment pays your next months early.

9. Guarantors

Loans above ₦100,000 need 1 guarantor, who confirms with a code sent to their own phone. Each guarantor confirms that loan by a code sent to their phone after seeing its amount, months and payments, and is released when the loan is fully repaid. Our Guarantor terms explain their side.

10. What we will never do

• contact your friends, family, employer or colleagues about your loan; we speak only with you and the guarantors you chose for that loan;
• shame, threaten or insult you, or publish your details;
• read the contacts, photos or messages on your phone;
• take money from any account other than your Member Wallet or a card you saved with your clear agreement;
• lend to you without your request.

11. Credit bureaus

With your consent we may check your history with licensed credit bureaus, and we may report how your loans are repaid, good or late. Paying on time helps your record.

12. Statements and closing letters

You can download a statement of your loan in the app at any time. When a loan is fully repaid or settled, we send a closing letter confirming that nothing more is owed.

13. Complaints and the law

Our Complaints policy explains how to complain; we aim to solve a complaint within 24 hours. Our loans follow the Federal Competition and Consumer Protection Act 2018, the FCCPC Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations 2025 and the laws of the Federal Republic of Nigeria.