Rate Policy

The minimum lending rate for ALL our loans is 1.25% per month or 15.00% per annum (excluding fees). 

All our interest-free loans and Sharia Compliant Loans are all still structured with 0% interest rates. Details below....

 

Benchmarks

It would obviously not make sense to lend below our 15% minimum annual lending rate floor, when the average of selected 'risk-free' assets basket yield minimum of 15%, that involves basically no work done or lifting a finger.

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Investment / Asset Vehicle
MTN Y'ello Save
91-day Treasury Bill
182-day Treasury Bill
364-day Treasury Bill (recently replaced 1-Year Note)
MTN My Own Pension (MOP)
Annual Guaranteed Rate of Return
12.00% p.a. (recently reduced to 8.00% p.a.)
14.7150% (approx.)
15.1501% (approx.)
18.1898% (approx.)
1-Year Note + 2%

Our 'risk-free' 1% interest rate per day  (30% return per month) ecash service was deliberately left out of the table above for obvious and good reasons.

 

In the light of the above table, it will obviously not make financial and/or economic sense to fund a standalone loan with an interest rate at/below the average annual return of 15.224% (15%) p.a. 

 

Interest-free Loans & Our 15% minimum lending rates

Interest-free loans are available to existing clients and customers only and not available to new customers/clients. This is restricted to loans that is used to buy a product or procure a service from any of our merchant partners.

The combined return with this type of loan is typically, 0% on the loan itself but minimum return of 15% gained by any of our qualifying merchant partners.

 

Sharia Compliant Loans & Our 15% minimum lending rates

Like the interest-free loans above, this is also restricted to loans that is used to procure a service from any of our merchant partners (Hajj Loans excluded). The combined return with this type of loan is typically, 0% on the loan itself but minimum return of 15% gained by any of our qualifying merchant partners. More via our Islamic Finance.

Quick Notice

Sikamaster, is a 24/7*365 well-capitalised internet first, forward-thinking, safe, robust, resilient, smart & responsible direct lender for the working class (we don't lend to the unemployed). SML is not; a microfinance institution, and neither a savings & loans company or a Specialised Deposit-taking Institution (SDI) of any form, kind or type. SML does not seek and/or accept outside capital. SML does not charge any upfront fees before lending. The Bank of Ghana (BoG) does not regulate some forms of no upfront fee non-deposit taking financial services, buy to lets, seller financing, commercial mortgages, secured loans, unsecured loans, earned wage access schemes, buy now pay later products, bridging loans, trusts, overseas mortgages, and conveyancing or debt management.

Rolling out a secured, safer, convenient, revolutionary automated self-care, ethical, no upfront fee, non-deposit taking direct lending platform in phases (three phases remaining).The information contained within this website is subject to Ghana regulatory regime and is therefore targeted at customers based in Ghana. Fully compliant with non-offer of regulated products, AML and KYC regulations.

All Business Loans have been moved to GHStartups.com (a sister company). GHStartups.com provides loans to all kinds of businesses, be it large or small and not necessarily startups alone. All Rent Loans have also been moved to RentNowPayLater.net and RentToBuyGhana.com. All Construction Loans have been moved to Build Now Pay Later. All Auto Loans have been moved to Glostar Motors.

All Buy Now Pay Later (BNPL) Loans (incl interest-free and interest-bearing) have been moved to DCANS Pay (a sister company).

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