Loan Frequently Asked Questions (FAQ)

Answers to common questions about our loan services.

1

Am I eligible to apply for a loan?

Yes. You may apply as long as you are at least 18 years old, hold valid identification, and have a stable income or the basic ability to repay.

2

What documents are required to apply for a loan?

  • Valid ID (e.g., national ID or passport)
  • Contact number and proof of residential address
  • Bank account details for receiving the loan
3

Can I apply if I don’t have a formal job?

Yes. We accept applications from informal earners such as freelancers, small business owners, and self-employed individuals, as long as you can demonstrate income stability and repayment ability.

4

How soon can I receive the loan funds?

If your documents are complete and the review process goes smoothly, funds may be disbursed within 24 hours. Actual timing depends on the platform’s processing speed.

5

Do I need to pay any fees before getting the loan? Why?

Yes. A one-time upfront service fee is required based on your loan amount. This fee covers risk evaluation, document processing, and platform operations.

Loan Pre-Approval Fee Structure (By Loan Amount)

To ensure fair, transparent, and efficient service, we apply a tiered fee structure depending on your loan amount:

  • Total Fee: 15,000 MWK
  • Credit Security Deposit (5,000 MWK): Demonstrates the applicant’s genuine intent and repayment commitment. This amount will be deducted from interest or principal once the loan is disbursed.
  • Processing Fee (5,000 MWK): Covers ID verification, credit scoring, and manual application assessment.
  • Service Activation Fee (5,000 MWK): Supports the platform’s risk control system, data protection, and customer support operations.

✅ Why Do We Charge Upfront Fees?

  • To ensure processing efficiency and prevent misuse: Without a basic fee structure, the platform would be overwhelmed by fake or irresponsible applications, affecting genuine borrowers.
  • To filter creditworthy applicants: These fees help us assess your ability and intent to repay, which protects the platform and all borrowers.
  • Transparent and well-defined fee usage: All fees are clearly disclosed in advance and are either deducted post-loan or managed according to refund policies. There are no hidden charges or forced payments.
  • We shoulder greater risk and cost with higher loans: Larger loans require more resources in risk control, auditing, and servicing. The fee reflects the true cost of delivering secure financial services.

🤝 Our Commitment to You

  • All fees are transparent and disclosed in advance;
  • The credit deposit will be applied directly to reduce your loan interest or principal upon disbursement;
  • If your loan application is not approved, we will refund the fees in accordance with platform policy;
  • There are no hidden charges — every cost is accountable and justified;
  • All services are conducted under strict financial control, compliance, and data security supervision.
6

If my application is rejected, will I get a refund?

Yes. If your loan application is rejected, we will issue a full refund.

7

What is the interest rate? Are there any hidden charges?

Interest rates vary depending on loan amount and duration. You will be shown a full breakdown of fees and interest before disbursement, and we never charge hidden fees.

8

What happens if I miss a repayment or delay it?

Late payments will incur penalties and may damage your credit profile. Serious delinquency may be escalated to collections or legal action. Please repay on time to maintain a good credit record.

9

What if I don’t understand part of the process or fees?

You’re welcome to contact our customer support team anytime. We’re here to provide full guidance and ensure you clearly understand all policies and terms.

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