Nguzu Lending 1.0.6

Nguzu Developer – Freeware – Android

Nguzu Lending: Addressing Financial Challenges in Zambia

Nguzu Lending offers a streamlined solution for individuals facing financial emergencies or looking to purchase essential items, such as a new phone. Their online platform provides a user-friendly experience for obtaining loans tailored to your needs.

Application Process: The Nguzu Lending app enables users to apply for personal loans and quick credit within minutes, simplifying the borrowing experience.
Loan Flexibility: Should repayment become an issue, users can request an extension on their loan. Additionally, repayments can be managed conveniently online through the app.

Personal Loan Details:

Loan Amount: Ranges from 100 ZMW to 10,000 ZMW
Loan Term: 91 to 120 days
Daily Interest Rate: Minimum 0.02% - Maximum 0.07%
Annual Percentage Rate (APR): Minimum 7.3% - Maximum 25.55%
Service Fee Rate: Minimum 0% - Maximum 2%

Loan Example:

Application Details: Loan amount: 1,000 ZMW; Loan period: 91 days; Daily Interest Rate: 0.05%; Annual Percentage Rate (APR): 18.25%; Service Fee Rate: 2%

Loan Repayment Details:

Principal: 1,000 ZMW
Interest Payable: 0.05% * 1,000 * 91 = 45.5 ZMW
Service Fee: 2% * 1,000 = 20 ZMW
Total Amount Due: 1,000 + 45.5 + 20 = 1,065.5 ZMW

Advantages of Nguzu Lending:

Simplicity: Open to anyone aged 18 and above.
Quick Access: Funds may be available in approximately eight minutes.
User-Friendly: The absence of bureaucratic hurdles enhances the application process.
Convenience: Loans can be accessed online via mobile devices from any location.
Continuous Availability: Personal loans are accessible around the clock throughout the year.

Loan Requirements:

Aged 18 or older.
A legal resident of Zambia.
A stable monthly income is required.

If you have inquiries or need further assistance, Nguzu Lending provides various contact options:

Official Website: nguzulending.com
Email: [email protected]
Hotline: +260 779 480 606
Address: Plot6627 Kapuka Road Olympia Extension, No.6 Lusaka Zambia

Overview

Nguzu Lending is a Freeware software in the category Business developed by Nguzu Developer.

The latest version of Nguzu Lending is 1.0.6, released on 05/02/2025. It was initially added to our database on 01/14/2025.

Nguzu Lending runs on the following operating systems: Android.

Nguzu Lending has not been rated by our users yet.

Pros

User-friendly interface that makes navigation easy for borrowers and lenders.
Offers competitive interest rates compared to traditional lending options.
Supports quick loan applications and processing times, making it accessible for urgent financial needs.
Provides a range of loan products catering to different borrower needs, such as personal loans and business loans.
Incorporates a rating system for lenders and borrowers, fostering trust within the community.
Mobile app availability allows users to manage their loans on the go.
Offers educational resources about lending and borrowing, helping users make informed decisions.

Cons

Limited availability in certain regions, reducing access for some potential users.
Higher fees associated with loan origination or late payments compared to traditional banks.
Lack of direct customer support, which may be challenging for users needing immediate assistance.
May require users to have a good credit score to qualify for certain loans, excluding those with lower scores.
Potential for predatory lending practices if not monitored properly, which could lead to borrowers falling into debt traps.

Screenshots (Click to view larger)

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