Nextpayday

Nextpayday helps gainfully employed persons to access loans from the comfort of their home with few clicks. We boast of simplicity, speed and easy self-service and entirely transparent process and monitoring.
Why Us?
• Less Paperwork
• Nondiscriminatory lending
• Low employer involvement
• Speedy disbursal of loans
• Fully unsecured loans

Customers can enjoy loan tenors up to 12 months at Annual Percentage Rate (APR) of less than 45%.

For example: If a customer borrows NGN100,000 for 12-months, we will charge an interest rate of 3.75% per monthly remaining balance at an APR of 26.015%. A processing fee of NGN527.8 (for RVSG Workers) will apply, a deduction of 2.564% for one-off loan fee (insurance + verification fee) as well as 12 monthly repayments of NGN13,203.33. This gives a total repayment of NGN 158,439.96

Get Started now!
• Sign up with your phone number and validate it with an OTP
• Introduce yourself and upload a few employment documents such as employment, confirmation, work ID , valid ID card and a good profile photo
• Proceed to create a loan . Your net pay determine how much you can access
• We charge a loan fee, decide if you want it set off or capitalised.
• take capacity check, lets know your optimal loan limit
• Nextpayday validates your claims remotely and loan is approved or declined.
• Loan approved, set up your collection method
• Get cash

What else can be done on your dashboard?
Your dashboard is your self service centre at nextpayday
• create refund, if for any reason you made more repayments as agreed on your loan
• settle your loan, if your cashflow gets better before loan expiry date
• Get your loan statement
• Notification centre has updates on your nextpayday activities
• Talk to us via Chat and tickets
• share your nextpayday experience.
Contact us
Office: 6 Abuja Lane, D-Line Port Harcourt
Call/whatsapp: 08095000667
Website: https://www.nextpayday.ng
Email: [email protected]
Instagram: https://www.instagram.com/nextpaydayng
Facebook: https://facebook.com/nextpaydayng/
Twitter: https://twitter.com/nextpaydayNG/

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ADDITIONAL INFO
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CREDIT SCORE IMPACT
Failure to pay off any loans taken trigger a notice to the consumer credit reporting agency which would negatively impact an individual’s credit score. Late payments can also affect your ability to borrow in the future, so please ensure timely repayments of obligations.

LOAN TERMS
Interest rates are set for each employer, and applicable rate is highlighted on the loan request form page.
Nextpayday charges an additional verification fee [ covering insurance, origination and management] ranging from 2.5% to 8% depending on the employer. The applicant reserves the right to set off this fee from his principal or capitalize it in order to meet set financial goal. Where the fee is capitalised, it will be added to the principal amount for the purpose of determining the loan EMI.
When you request for a loan, and EMI [ Equal Monthly Installment] is generated based on the amount requested, loan terms, and applicable interest rate. Where Fee is capitalized, it becomes a component of the EMI.
The EMI shall be paid and on or before the 30th day of every month from the next corresponding month after the disbursement of Loan. Such repayments of Loan shall continue until the date of full repayment of the loan.
Where you fail to pay any amount due on the due date of payment, you shall be liable to pay an additional interest at the rate the loan was sold on the unpaid installment every month until the Loan is repaid.
You may liquidate the loan before the end of the tenure; provided that the following additional charges shall apply to loans liquidated before the end of the tenure
Pre-liquidation within the first 3 months - 10% flat
Liquidation between the 4th to 6months- 7.5% flat
Current maximum tenure is between 3 to 12 months. Disbursements is in less than 30 minutes.