Loan Terms and Information
Our app provides users with transparent and flexible loan options designed to meet diverse financial needs. Below is an overview of the terms and conditions for the loans offered through our platform:
Annual Percentage Rate (APR)
Our loans are priced based on a risk-based pricing model, which determines the monthly interest rates. The monthly interest rate ranges from 10% to 44%, depending on the borrower’s risk profile and other factors. This translates to an annual percentage rate (APR) ranging from 120% to 528%. The specific
Monthly rates applicable to each loan will be clearly displayed to users before they accept the loan terms.
Repayment Schedule
Loan repayment schedules are tailored based on the loan term:
30-Day Loans:
Full payment is due on the 30th day from the loan disbursement date.
60-Day or longer loans:
Payments are divided into equal installments. For example, a 60-day loan would have the first installment due on the 30th day and the second installment due on the 60th day. Borrowers also have the flexibility to make early or bullet payments based on their preferences.
Payment Due Date The payment due date for each installment or full loan repayment is explicitly stated in the loan agreement and is based on the loan tenor (e.g., 30, 60, or more days from the disbursement date). Borrowers can review their repayment schedules within the app.
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