Agyenkwasika personal loan

AgyenkwaSika is a trusted online loan app in Ghana, providing quick and secure access to cash loans. Designed to cater to personal financial needs, AgyenkwaSika offers a seamless and straightforward loan application process, ensuring that you get the financial assistance you need without any hassle.

Product Description

Loan Amount: AgyenkwaSika offers loans ranging from GH₵ 200 to GH₵ 5,000, allowing you to choose the amount that best fits your needs.

Loan Term: Flexible repayment terms are available, including 3, 6, 9, and 12 months.

Daily Loan Interest Rate: The interest rate is as low as 0.01% per day.

Annual Percentage Rate (APR): The APR for this loan app ranges from 17% to 29% per year, providing competitive rates for borrowers.

Management/Platform Fee: A minimal platform fee of 0.01% is charged to cover administrative costs.

Example Calculation

For a practical example, consider a cash loan of GH₵ 10,000,000 for a term of 1 year at a daily interest rate of 0.01%:

Profit Sharing: 24% = GH₵ 2,400,000

Term: 12 months / 12 payments

Platform Fee: 12% = GH₵ 1,200,000

Total Loan Principal + Interest: GH₵ 12,400,000

Total Payment Amount: GH₵ 13,600,000

Total Monthly Installments: GH₵ 1,133,333

> Borrowers have the flexibility to prepay at any time, potentially reducing the overall fees.

How to Use the AgyenkwaSika App

Download and Install: Find and install the AgyenkwaSika app from the Google Play Store.

Register: Use your mobile phone number to register and fill in your personal information.

Verify Mobile Wallet: Enter the verification code sent to your mobile wallet to complete the verification process.

Submit Loan Application: Fill out the loan application form and submit it for review.

Receive Funds: If you have good credit credentials, the loan amount will be transferred directly to your mobile wallet upon approval.