Nguzu Lending 1.0.6

Nguzu Lending 1.0.6

Nguzu Developer – Freeware – Android
Latest Version
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.

  1. Application Process: The Nguzu Lending app enables users to apply for personal loans and quick credit within minutes, simplifying the borrowing experience.
  2. 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.

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