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How much do you want to borrow?
This is the money the bank will give you. For example, if you need ₦500,000 to fix your car or pay school fees, enter ₦500,000 here.
Drag the slider or type any amount directly into the box
₦
What does the bank charge per year?
Every year, the bank adds an extra charge on top of what you owe. This is shown as a percentage. Nigerian banks usually charge between 18% and 30%. Check your loan letter or ask your bank for the exact number.
Nigerian banks usually charge between 18% and 30% per year
% / yr
How many months will you take to pay it back?
This is how long you and the bank agree it will take to fully pay back the loan. Choosing more months means you pay less each month — but the bank charges you for longer, so you pay more overall.
More months = smaller monthly payment, but more total cost
months
You pay each month
—
Total you pay back
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Bank's extra charge
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Your money vs the bank's charge
| Month | You pay | Goes to your loan | Bank's charge | Amount left to pay |
|---|
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