Loan Service & Pricing
Borovault loan features are currently in a limited rollout and processed with transparent repayment schedules. Users see principal, interest, due dates, and remaining obligations.
Default Interest
10% (platform configurable)
Amount Range
From ₦1,000
Duration
1 to 60 months
Statuses
Pending, Active, Repaid
How the loan flow works
1) Application
Users submit amount, purpose, and duration. System calculates total repayment and monthly installment at current configured interest.
2) Approval & Disbursement
Approved loans move to active and disburse to user wallet. Due dates are auto-created per repayment schedule.
3) Repayment
Repayment debits user wallet, updates installment status, and marks loan as repaid when all pending items are cleared.
4) Service Configuration
Interest and duration ranges follow current platform settings while rollout and eligibility are continuously improved.