Chinocredit

ChinoCredit is a financial intermediary that offers online loan services to its users, which can be accessed through a mobile app, anytime and anywhere. Our aim is to provide you with a seamless loan experience.

By using the information provided by the user during the application process, ChinoCredit enables rapid authentication and accurately matches loan products tailored to meet the user’s specific needs. This makes borrowing faster, easier, and more flexible.

Loan Application Example:

• Loan Tenure: 180 to 365 days
• Loan Amount: Up to ₦100,000
• APR (Annual Percentage Rate): Ranges from 10% (lowest) to 18% (highest)

Example Calculation:

If a customer borrows ₦10,000 for a tenure of 365 days (12 months) at an APR of 15%, the interest would be calculated as:

• Interest: ₦10,000 * 15% = ₦1,500
• Total Repayment Amount: ₦10,000 + ₦1,500 = ₦11,500

For a repayment period of 12 months, the monthly payment would be calculated as:

• Monthly Repayment: ₦10,000 / 12 + ₦10,000 * 15% / 12 = ₦958.33

ChinoCredit simplifies the borrowing process for customers by using big data analytics to quickly match users with loan options that suit their needs. This ensures that loans are easier to obtain, more convenient, and customized to the borrower’s financial situation.