Loan product
Personal Loan
A flexible loan for life's planned and unplanned personal expenses — rent, home improvement, medical bills, family events or consolidating smaller debts. Funds are disbursed to your Nigerian bank account once your offer is accepted.
Key terms
- Loan amount
- ₦50,000 – ₦3,000,000
- Repayment period
- 3 – 24 months
- Interest rate
- from 15% per annum
- Processing fee
- 1.5% of principal
- Repayment options
- Weekly, bi-weekly or monthly
- Default interest
- 30% above agreed rate
Repayment example
₦500,000 over 6 months at 15% per annum, repaid monthly.
- Principal
- ₦500,000
- Interest
- ₦37,500
- Processing fee (1.5%)
- ₦7,500
- Total repayment
- ₦537,500
- Monthly repayment
- ₦89,583
Illustration only. Late payment attracts default interest of 30% above your agreed rate, as set out in your loan agreement.
Who can apply
- Salaried employees and self-employed individuals
- Applicants aged 18 years and above
- Applicants with a verifiable source of income
Eligibility requirements
- Valid government-issued means of identification
- Verifiable monthly income of at least ₦80,000
- Active Nigerian bank account in your own name
- Verifiable phone number and email address
Required documents
- Valid ID (NIN slip, driver's licence, voter's card or passport)
- Proof of address (recent utility bill or tenancy agreement)
- Last 3 months bank statement
- Payslip or evidence of income
Calculator
Estimate your personal loan repayment
Loan details
Adjust the inputs to see your estimated repayment update instantly.
₦50,000 – ₦3,000,000
Rate set by Vicade Global for this product.
Estimated monthly repayment
₦89,583
6 payments · first payment 23 September 2026
- Principal
- ₦500,000
- Interest
- ₦37,500
- Processing fee (1.5%)
- ₦7,500
- Total repayment
- ₦537,500
Repayment schedule
| # | Due date | Amount | Balance |
|---|---|---|---|
| 1 | 23/09/2026 | ₦89,583 | ₦447,917 |
| 2 | 23/10/2026 | ₦89,583 | ₦358,333 |
| 3 | 23/11/2026 | ₦89,583 | ₦268,750 |
| 4 | 23/12/2026 | ₦89,583 | ₦179,167 |
| 5 | 23/01/2027 | ₦89,583 | ₦89,583 |
| 6 | 23/02/2027 | ₦89,583 | ₦0 |
Calculator results are estimates and do not constitute a loan offer. Final loan terms are subject to approval.
FAQs
Personal Loan questions
Apply for a personal loan
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