This Loan Agreement (“Agreement”) is entered into between ViCash (“the Lender”) and the individual customer (“the Borrower”) who accepts a loan offer through the ViCash mobile application. Together referred to as “the Parties.”
When the Borrower submits a loan application and the Lender approves it, the specific terms of that loan (the “Loan Offer”) are displayed in the app, including:
By tapping “Accept” in the app, the Borrower accepts the Loan Offer and enters into this legally binding Agreement. We recommend carefully reviewing all terms before accepting.
Upon acceptance, the Lender will disburse the loan principal to the Borrower's registered mobile money account or bank account. Disbursement typically occurs within minutes of acceptance, though processing times may vary depending on the recipient's financial institution.
Interest is calculated daily based on the outstanding principal balance at the agreed APR. The total interest for the loan term is disclosed in the Loan Offer. No processing fees, service fees, or other charges apply. The Borrower may repay the loan early with no penalty — interest is calculated only up to the date of repayment.
The Borrower agrees to repay the total repayment amount by the due date specified in the Loan Offer. Repayment is made through the ViCash app using the Borrower's registered mobile money or bank account. The Borrower authorises the Lender to initiate debits for repayment purposes.
If the Borrower fails to repay by the due date:
If the Borrower anticipates difficulty making a payment, they should contact the Lender immediately to discuss available options.
The Borrower represents and warrants that:
The Lender may declare the Borrower in default if:
Upon default, the entire outstanding balance (including accrued interest and late fees) becomes immediately due and payable.
The Borrower authorises the Lender to:
The Lender will process the Borrower's personal data in accordance with the ViCash Privacy Policy. This includes collecting, storing, and sharing data as necessary to provide the loan services and comply with legal obligations.
The Borrower consents to receive communications from the Lender via:
These communications may include loan status updates, repayment reminders, account alerts, and service-related announcements.
The Lender may assign or transfer its rights and obligations under this Agreement to a third party (including for debt collection or portfolio management purposes) without prior consent from the Borrower. The Borrower may not assign or transfer any rights or obligations under this Agreement.
This Agreement, together with the Loan Offer, the Terms of Service, and the Privacy Policy, constitutes the entire agreement between the Parties regarding the loan. It supersedes any prior agreements, understandings, or representations.
This Agreement is governed by the laws of the Federal Republic of Nigeria. Any disputes arising from this Agreement shall be resolved through negotiation, mediation, or the courts of Lagos State, Nigeria.
For questions or concerns regarding this Agreement, contact:
