LoanGate

Loan Information

APR Range: 6.67% – 20% annually
Loan Tenure: 3 – 24 months (Minimum 90 days)
Minimum Repayment Period: 90 days
Maximum Repayment Period: 24 months
Late Fee: 1% daily (simple interest)

No compounding interest

No hidden charges

Representative Example

If you borrow ZMW 2,000 for 6 months at an APR of 15% annually (simple interest):

Principal: ZMW 2,000

Total interest: ZMW 148

Total repayment: ZMW 2,148

Monthly installment: ZMW 358

Late fee: 1% daily on overdue amounts (simple interest)