FAQs
General
What loan products do you offer?
Can I calculate my loan repayments myself?
Apart from loans, can I invest or save money?
What is the interest rate on your savings app?
What is the interest rate on your Fixed Deposit?
As a new customer, can I apply for a Loan online?
How can I contact you?
Where is your office located?
Is my money safe with Koins MFB?
Do I need to open an account to get a loan?
How can I make payments or deposit without visiting your office?
Why do you need my Bank Verification Number (BVN)?
How safe are my details with you?
Can I pay off my loan before it is scheduled to mature?
Personal banking
Who is eligible for a personal loan?
What are the requirements for a loan?
How can I apply for a personal loan?
How long does it take to process a loan application?
How much can I borrow?
What is the interest rate on your loans?
Are there any additional loan charges?
What is the minimum tenor of your loans?
What is the maximum tenor for your loans?
What is the frequency for loan repayments?
How can I repay my loan?
Can I repay earlier than the due date?
Can I pre-liquidate my loan?
Is there a charge for pre-liquidating my loan before maturity?
Can I request for a loan statement?
What happens if I miss my loan repayment?
Is a good credit report a prerequisite to obtaining a Personal Loan?
Can I get a loan with a bad credit report?
Business banking
Who is eligible for a Business loan?
What are the requirements for a Business loan?
How can I apply for a Business loan?
How long does it take to process a loan?
What Business Banking loan products do you offer?
How much can I borrow?
What is the interest rate on your Business loans?
What is the minimum tenor of your loans?
Any there any additional charges?
What is a credit report?
Do I need a form of collateral?
Must my business be registered?
What is the maximum tenor for your loans?
What is the frequency for loan repayments?
How can I repay my loan?
Can I repay earlier than the due date?
Can I pre-liquidate my loan?
Is there a charge for pre-liquidating my loan before maturity?
Can I request for a loan statement?
What happens if I miss my loan repayment?
Koins Target Savings
If I live outside Nigeria, can I open a Koins Target Savings account?
What is the minimum amount I can save on the Koins App?
How do I save on Koins?
Can I top up my savings at any time?
Can I pause and continue saving after sometime?
How do I create a Target Savings plan?
When can I withdraw my savings?
Is there a limit to how much I can save on Koins?
How long can I save on Koins?
Can I have multiple Target Savings Plans on Koins?
Why can't I log in to my Koins account?
Why can’t I receive an OTP for my BVN verification on the Koins App?
Fixed Deposit
What is the lowest amount I can place in a deposit?
What is the Fixed Deposit interest rate?
How long can I place my money in a deposit?
Can I request for my money in an emergency situation?
Is my Fixed Deposit Insured?
