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Important Update on Food Thrift Fund Product
1. Program Overview
At Ajo, we’re committed to supporting our valued clients through our Food Thrift Fund program. This program offers a unique opportunity to acquire food items with a 5% interest rate, repayable over 4 weeks in weekly installments due every Friday.
2. Repayment Assistance
If you encounter difficulties repaying your Household/Food Thrift Fund within the stipulated time, we’ve got you covered. The outstanding amount will be converted into a Safari loan, debited from your funded Ajo wallet, with a default interest rate of 10% applied.
3. Application Details
– Opens every 7th of the month
– Closes on the 9th of the same month
– First-time applicants: Maximum limit of N20,000.00, with subsequent increments of N10,000.00 available upon successful repayment of the previous Food Thrift Fund payment.
– Approval requires a minimum credibility rating of 5% on the Ajo mobile app.
Repayment Terms:
– N20,000 – N69,000: 4 weeks (1 month) at 5% interest rate
– N70,000 – N99,000: 8 weeks (2 months) at 10% interest rate
– N100,000 – N150,000: 12 weeks (3 months) at 15% interest rate, repayable weekly
Please review these guidelines carefully before submitting your application.
4. Credibility Rating and Repayment
Maintaining timely repayments is crucial, as defaulting may reduce your credibility rating. A lower credibility rating may result in a change in your Ajo Kiko number, representing a backward step in the system.
5. Application Fee
Please note that a non-refundable application fee of N1,000.00 applies.
6. Additional Information
For queries about the maximum attainable Safari loan amount, please contact us via WhatsApp at 09014149580. Your financial well-being is our priority, and we’re here to assist you every step of the way.