About Creditly
Creditly — Digital Pawnshop (Pawn Shop)
Creditly is a digital pawnshop in the Republic of Azerbaijan. We provide short-term pledge-secured financing using your smartphone's IMEI as digital collateral. The physical device stays with you.
LEGAL CLASSIFICATION
The pledge is created by the pledge agreement itself and registered without transfer of the collateral to the creditor — the smartphone remains in your possession and use. The relationship is governed by the Civil Code of the Republic of Azerbaijan and the Law "On Encumbrances of Movable Property". Pawnshop activity is not subject to a dedicated licensing regime currently in force in Azerbaijan; Creditably operates lawfully under general civil law. Our information system is registered with the Ministry of Digital Development and Transport, State Registry No. IS623005001.
HOW IT WORKS
Digital Collateral. Your smartphone's IMEI is registered as a pledge in the state IMEI registry (MCQS). IMEI blocking is not how the pledge is created — it is a means of securing performance.
SIMA Authorization. Identity verification and contract signing through SIMA, Azerbaijan's national digital signature system, legally equivalent to a handwritten signature.
Automated Device Assessment. Instant evaluation of your smartphone's market value sets the maximum financing amount.
Full Cost Transparency. Every fee, interest amount and total repayment figure is shown in AZN before you sign.
Early Repayment. Close the agreement at any time — no penalty. Interest is charged only for the actual days used, as is the daily service fee accruing from day 47. The one-time 46% service fee covering the first 46 days is not reduced or refunded.
Customer support: Mon–Fri 09:00–18:00, Sat 10:00–15:00.
FINANCING TERMS
Financing amount: AZN 100 to AZN 1,500, subject to automated device assessment. Minimum device value: AZN 330.
Repayment period: 61 days (single fixed term).
Cost structure (all in AZN):
— Service fee: 46% of the financing amount, charged once for the first 46 days; from day 47, an additional 1% per day
— Interest: 0.3% per day, accrued from the date of issue for the actual number of days
— No fees or interest accrue after day 61 — the amount owed is fixed on that date
Total accrued fees and interest cannot exceed the financing amount.
Maximum APR: 474.5% (including the service fee and all interest).
Representative example:
Financing amount: 250 AZN
Service fee (46% for the first 46 days + 1% per day for days 47–61): AZN 152.50
Interest (0.3% x 61 days): AZN 45.75
Total repayment by day 61: 448.25 AZN
Early repayment reduces the total cost. Example: repayment on day 30 — service fee 115.00 AZN + interest 22.50 AZN = 387.50 AZN total.
PLEDGE ENFORCEMENT POLICY
No MDM, no monitoring software, no admin profiles. Your data and device usage remain private.
If the agreement is not fulfilled by the end of the 61-day term, a one-time technical fee of AZN 25 applies from day 62 and the IMEI may be blocked from cellular networks through the state MCQS registry. This single fee covers both blocking and unblocking. The blocking is performed by the state registry, not by the app — the app does not disable or restrict your device. The device remains in your physical possession at all times.
If the pledged device is sold, the proceeds are applied to the amount owed, any surplus is returned to you, and any remaining balance is canceled — even if the proceeds do not cover it in full.
Upon full fulfillment, we submit an unblocking request to MCQS within 24 hours. Actual restoration of network service may take 1–3 business days, depending on MCQS and the mobile operators.
ELIGIBILITY
Approval is subject to automated eligibility assessment.
COMPANY DETAILS
"CREDITLY" LLC, VOEN: 1309409861
Baku, Yasamal, N.Narimanov ave. 125/14
+994 10 315 76 91 | [email protected]
Privacy Policy: https://creditly.az/privacy-policy.html
