Pricing
One flat rate for the term you choose. It is taken before the money is sent; you repay the principal only. Repay in full early and the interest for the days you did not use comes off.
Interest by term
| Term | First loan | After 1 repaid on time | After 3 repaid on time |
|---|---|---|---|
| 20 days | 23% | 17% | 14% |
| 40 days | 38% | 29% | 24% |
| 61 days | 48% | 38% | 33% |
Risk-based pricing: your first loan costs the most, because we do not yet know how you repay; the price falls after the first loan repaid on time and again after three. Each rate works out at about the same cost per day on the money you actually receive.
Loans from UGX 49,000 in steps of UGX 1,000, up to your limit. On 61 days a new borrower may take up to 50% of their limit; the full limit opens after 10 loans repaid on time.
Fees
No fees: interest is the only charge, and Niazime pays the MTN MoMo or Airtel Money charge for sending you the money.
Maximum effective annual rate
420%, which is a UGX 49,000 loan for 20 days with all costs annualised. You never pay that figure; you pay the flat amounts above, once. It is shown so you can compare us with anyone else honestly.
Representative examples
| Loan | You receive | You repay | Total cost | Annualised |
|---|---|---|---|---|
| UGX 98,000 for 61 days | UGX 50,960 | UGX 98,000 | UGX 47,040 | 287% |
| UGX 49,000 for 20 days | UGX 37,730 | UGX 49,000 | UGX 11,270 | 420% |