1. How do I repay my DigiLoan?
You will be able to repay your DigiLoan, on your next top up or Credit U transfer received; only the recharge amount will be applied to the loan balance.
Note: Data Flex Top-Ups cannot be used to repay outstanding loan amounts; however you may use all other Top-Up methods including Credit U transfers for loan repayments. The bonus applied for the first Top Up (FOTM Top-Up) will not be applied to loan repayments.
2. Why can’t the balance on my main account be used to repay my DigiLoan?
Only recharge amounts (after the loan has been requested) can be used towards loan repayments. Credit already on your main account cannot be removed to repay your loan balance.
3. How long do I have to repay my DigiLoan?
You will be required to repay outstanding loans within a thirty (30) day period.
4. What happens if I repay my DigiLoan after the due date?
If loans are not repaid on time (within a 30 day period after loan access), you will be barred from accessing additional loans via DigiLoan service for an additional period of 30 days. The barring period begins immediately after the last recharge is made to fully repay the outstanding loan amount.
Once your account goes into bad debt (an outstanding loan amount for a period equal to or greater than 30 days) and the 30 day barring period has passed; if you wish to continue using the DigiLoan service, your maximum allowed loan value will be of a lesser value than the previous allowed maximum loan value.
5. What happens if my next top-up or Credit U transfer received is not sufficient to cover my outstanding loan?
If your NEXT top up is not sufficient to repay the DIGILOAN, any top-ups made after will go towards clearing any outstanding loan balance.
For example: If you have a $50 loan amount outstanding plus the $10 service fee and you do a top up of $50, that top up will go towards repaying the $50 loan amount firstly, leaving $10 to be paid in addition to the loan fee which will then be taken from your next top-up made towards the account.
N.B DIGILOANS are repaid with the loan amount being deducted first then the loan fees.
6. How do I repay the service fee for my DIGILOAN?
Service fees will be deducted from recharges or Credit U transfers after the loan amount is fully repaid.
N.B Only recharge amounts are applied to loan and fee repayments.
7. If I make a partial payment on my outstanding DIGILOAN will I be able to make another loan request?
No. You must repay all outstanding loans before being able to make another request.
For example: If you have an outstanding loan of $180 and a loan fee of $18, and you top up with $100, you will have an overall balance of $98 left to be repaid. If you try to request another DIGILOAN, you will receive a prompt advising that you are required to clear all outstanding balances before requesting another loan.