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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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.
Rolling out a secured, safer, convenient, revolutionary self-care, ethical, no upfront fee, direct lending platform in phases (