At Andray Finance Limited, we are committed to providing accessible, transparent, and responsible digital lending services to our customers in Nigeria. Our loan policy is designed to ensure fairness, clarity, and compliance with regulatory requirements while meeting the financial needs of our clients.

Loan Eligibility Criteria:

To qualify for a loan from Andray Finance Limited, applicants must meet the following requirements:

• Be a Nigerian citizen or legal resident.
• Be at least 18 years old.
• Provide a valid means of identification (e.g., National ID, Voter’s Card, Driver’s License, or International Passport).
• Have a valid bank account with a Nigerian bank.
• Provide proof of income or employment (where applicable).
• Have a functioning mobile phone number and email address.

Loan Products:

We offer the following loan products tailored to meet diverse financial needs:

• Payday Loans: Short-term loans designed to cover urgent expenses until your next paycheck.
• Personal Loans: Flexible loans for personal needs such as medical bills, education, or home improvements.
• Business Loans: Loans to support small and medium-sized enterprises (SMEs) with working capital or expansion.
• Salary Advance Loans: Loans for salaried individuals to meet immediate financial needs.

Loan Amounts and Tenure:

• Loan Amounts: Loan amounts range from ₦5,000 to ₦5,000,000, depending on the applicant’s creditworthiness and repayment capacity.
• Loan Tenure: Loan repayment periods range from 7 days to 12 months, depending on the loan product and applicant’s profile.

Interest Rates and Fees:

• Interest Rates: Our interest rates are competitive and comply with regulatory guidelines. Rates are clearly communicated during the loan application process.
• Processing Fees: A one-time processing fee may apply, depending on the loan product.
• Late Payment Fees: A late payment fee will be charged for overdue repayments. The fee structure will be disclosed in the loan agreement.
• No Hidden Charges: All fees and charges are transparently communicated to borrowers before loan disbursement.

Loan Application Process:

1. Online Application: Visit our website and complete the loan application form.
2. Document Submission: Upload required documents (e.g., ID, proof of income).
3. Credit Assessment: Our system will evaluate your application based on creditworthiness and repayment capacity.
4. Approval and Offer: If approved, you will receive a loan offer detailing the loan amount, interest rate, tenure, and repayment schedule.
5. Acceptance: Accept the loan offer digitally to proceed.
6. Disbursement: Once accepted, the loan amount will be disbursed to your bank account within 24 hours.

Repayment Terms:

• Repayment is made through direct debit from your bank account or via our designated payment channels.
• Borrowers are required to repay the loan amount plus interest and fees in installments as agreed in the loan agreement.
• Early repayment is allowed without penalties.

Default and Recovery:

• Default: Failure to repay your loan on time will result in late payment fees and may affect your credit score.
• Recovery: We will engage with defaulting borrowers to resolve repayment issues. Persistent default may lead to legal action or reporting to credit bureaus.

Data Privacy and Security:

• Andray Finance Limited is committed to protecting your personal and financial information.
• All data provided by applicants is securely stored and used only for the purpose of processing loan applications and improving our services.
• We comply with the Nigerian Data Protection Regulation (NDPR) to ensure the confidentiality and security of your data.

Customer Support:

• For inquiries, complaints, or assistance, contact our customer support team via:
  • Email: support@andrayfinance.com
  • Phone: +234 (01)-234-5678
  • Live Chat: Available on our website.

Regulatory Compliance:

Andray Finance Limited operates in full compliance with the regulations of the Central Bank of Nigeria (CBN) and other relevant regulatory bodies.

Responsible Lending:

We are committed to responsible lending practices. Our loan assessments ensure that borrowers are provided with loans they can comfortably repay without undue financial strain.

Amendments to the Loan Policy:

Andray Finance Limited reserves the right to amend this loan policy at any time. Any changes will be communicated to our customers through our website or other official channels.

By applying for a loan with Andray Finance Limited, you agree to the terms and conditions outlined in this loan policy.

Andray Finance Limited – Empowering Your Financial Freedom.

This policy can be adapted further to include specific legal clauses or additional details as required by Andray Finance Limited.