Flash Loan terms in Nigeria
Loan Amount: from ₦.5000 to ₦. 350,000.
Processing v Fee: 5% of principal amount with minimum amount ₦ 200 and maximum amount ₦ 2000
Maximum Annual Percentage Rate (APR) includes interests plus processing fee is 365% Minimum Annual Percentage Rate (APR) includes interests plus processing fee is 5%
Repayment period: shortest term 91 days. Longest term 180 days
Representative Example loan calculation:
For instance, 61 day loan with a principal amount of ₦ 10000
The processing fee would be ₦500
The interest would be ₦ 205.48
The total amount due is ₦ 10705.48 and monthly payment due will be ₦ 5352.74
Flash Loan terms in Kenya
Loan Amount: from Kes.1,500 to KES. 100,000.
Processing Fee: 5% of principal amount with minimum amount KES 60 and maximum amount KES 600.
Maximum Annual Percentage Rate (APR) includes interests plus processing fee is 365% Minimum Annual Percentage Rate (APR) includes interests plus processing fee is 5%
Repayment period: shortest term 72 days. Longest term 180 days
Representative Example loan calculation:
For 61day loan tenure
A principal amount of KES 3000,
Processing fee would be KES 150
And the interest would be KES 61.64
And the total amount due is KES 3211.64 and monthly payment due is KES 1605.82.
Minimum Annual Percentage Rate (APR) includes interests plus processing fee is 5%
Repayment period: shortest term 90 days. Longest term 365 days
Sample loan calculation
Loan amount: ₹ 30,000 at interest rate of 33.46% p.a.
Loan Duration: 90 Days
Total Interest = ₹ 2,475
Processing fees (PF) + GST = ₹ 1000 + Rs 180 = ₹ 1,180
Total Deductibles (PF + GST+ Interest): ₹ 3,655
In-Hand Amount: Loan Amount - Total Deductibles = ₹ 30,000 - 3,655 = ₹ 26,345
Total repayable Amount: ₹ 30,000
Monthly EMI Repayable: ₹ 10,000
The deductibles (interest + PF + GST) are deducted upfront during the loan disbursal.
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Email: [email protected]
P.O.Box 4789, Nairobi
DISCLAIMER:
We are not direct loan lenders, we only link you to loan apps that are already published on Google play store.
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