Quick Airtime Loan

Definition of Terms

The Borrower:

This refers to the Applicant

The Lender:

This refers to Guaranty Trust Bank Limited

Facility Type:

Quick Airtime Loan

Interest Rate:

2.95% per month, (approximately 35.4% per annum)

Tenor:

7 days, pre-liquidation is allowed without penalty

Loan Purpose:

To finance buying airtime to repay later.

Repayment:

Repayment is automated and triggered by the following:

1. Weekly at the end of the 7-day tenor.

2. Upon the next credit inflow into the customer's account.

Note: If the account is not funded, a block will be placed on the account to recover funds from future inflows.

Credit Insurance:

1% flat (One-Off Charge)

Security/Comfort:

Domiciliation of Borrower's salary with GTBank