NovaCedi – Fast Loans

NovaCedi provides users with convenient and secure access to financial services through mobile technology. The app is designed to offer transparent and responsible lending solutions for personal financial needs.

1. Why Choose NovaCedi?

Convenient Access: Apply anytime through a simple and easy-to-use mobile platform.

Flexible Limits: Credit limits are determined based on your profile and eligibility.

Secure Platform: Your data and transactions are protected using modern security standards.

User-Friendly Experience: Clean design and intuitive features make it easy to use.

2. Loan Information

Age Requirement: 18 years or older.

Loan Amount Range: GHS 1,000 – GHS 100,000.

Loan Tenure: Minimum 91 days – Maximum 365 days.

Maximum Annual Percentage Rate (APR): 19.65%.

Service Fee: 0% (No hidden charges).

Eligibility: Ghanaian citizens with a stable source of income.

3. Representative Example
If you borrow GHS 1,000 for 180 days at an APR of 19.65%:

Daily Interest Rate (approx.): 19.65% ÷ 365 = 0.0538%

Interest Amount: GHS 1,000 × 0.0538% × 180 = GHS 96.84

Total Cost of the Loan: GHS 96.84

Total Repayment Amount: GHS 1,000 + GHS 96.84 = GHS 1,096.84

Monthly Repayment (approx.): GHS 182.81

4. Calculation Method

Daily Interest Rate: APR ÷ 365

Total Interest: Loan Amount × Daily Interest Rate × Loan Days

Total Repayment Amount: Loan Amount + Total Interest

5. Important Disclosures & Safety

The APR represents the annual cost of the loan, including all applicable charges.

We do not provide loans with a repayment period of less than 91 days.

Data Protection: We value your privacy. All user data is encrypted and protected in accordance with high security standards. We do not share your personal information with third parties without your consent.

Actual loan terms depend on user eligibility and assessment. Borrow responsibly; late repayment may affect your credit profile.