We have different types of loan at Fufapay, we have created each to meet your needs.
ABOUT OUR LOAN
Fufapay loan is officially designed to help all Fufa network employees and their relatives who find themselves in any form of financial strain. We are a straight to the point organization and there are no hidden fee or charges.
(For every loan no matter the type there must be Two guarantor or collateral that has equivalent value of the loan.)
Fufapay Loan Types:
- Account Loan
- Daily pay Loan
- Express Loan (Must Be for Business and business monitored and created in our name )
Account Loan :
- Salary/Company loan : For people who work and have their account with us and their company has a domiciliary account with Fufapay. The company will stand as guarantor. and we must see the contract the company signed with that person to see the duration of the persons will work with that company, so our loan will only fall under the timeframe they will work for the company. Must open Fufapay Savings Account (Have a savings Fufapay account card )
- Student Loan : Fufapay should be responsible for your salary, meaning your company should be paying your account through us.
Daily-pay Loan :
- Users can save one month and collect double and pay everything under 3month. Then save 3months collect 3 times that amount and pay under one year.
- Locked saving for 1year :
- Deposit 500Fcfa everyday to get 5.5 interest at the end of the year
- Your one year locked savings can stand as a collateral when you follow the process.
- Deposit at least 2500Fcfa not limited to for 3years to get a land or house with equivalent of your 3year savings.
- Withdrawal is not allowed on this particular account
- locked savings is saved daily or weekly
Express Loan : This loan type is for emergency and fast transactional cases like car clearance, goods clearance and more
- We accept Only Collateral (3) Three times of your loan, Guarantor not accepted for express loan
- If you have Physical cash to deposit you must have a collateral that when added to the cash matches your intended loan amount !
- You pay back 10% every month
- This loan type will not exceed 1 month
Types of collateral (When a loan exceeds 1million in your currency it must involve collateral):
- Land collateral : This land as a collateral must have 3times the value of your loan.
- Auto-mobile Car or bike : Any Auto-mobile must have 5times the value of your loan.
- Application: After you have applied or registered for our loan service through Online, or Fufapay agent, We will get back to you to book a meeting this does not mean your loan will be approved. in some cases you are required to make a consultation fee to have a meeting with our agents. after proper check of your loan and if you have met all requirements we proceed to release the loan.
- After Loan : After your loan has been granted it means you already know your payment plan. You will be informed at the final day for repayment. you may be given grace period depending on the agreement. If you are yet to pay after all reminder your collateral will be used to cover for the loss
How Do We Access & Approve Individual Loan ?
- Through our Legal Financial Standards.
- Your past records with any financial organization : This means we check your past and current credibility with any financial companies in your region and outside if any exists
- Witnesses around where you live. We will not ask you when we make this findings this will be carried out from the moment your loan application starts.