1.0.6 Safe to install
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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