When facing financial struggles, Microdime Finance app is the app you need to get emergency micro loans between N$500 and N$5000.
Product presentation:
Loan amount : N$ 500 to N$5,000
Loan term: 2 to 3 months
Age limit : over 18 years old
Fixed interest Rate : 30%
NAMFISA levy : 1.03%
Stamp Duty: N$5
For example:
91 days (3 months) loans with an interest rate of 30% and the principal amount is N$1,000.
NAMFISA levy (1.03%) : N$1,000 * 1.03% = N$10.3
Stamp duty : N$5
Interest: N$1,000 * (30%) = N$300
Total to be repaid: N$1,000 + N$300 + N$10.3 + N$5 = N$1,315.3
Monthly repayment: N$1,315.3/3 = N$439
Our loan requirements
- Be at leat 18 years old
- ID card copy
- Latest payslip
- 2 months bank statement
How simple is our process:
- Download the app
- Register and provide the required information
- Apply for a loan
- Wait for your loan to be approved and the amount will be available