Question 1

Who can apply for a Paylux loan?

Accepted Answer

Any Nigerian between 21 and 60 with a valid BVN, NIN, a Nigerian bank account and a verifiable source of income — business or salaried.

Question 2

How much can I borrow?

Accepted Answer

Loans start at ₦1,000,000 and go up to ₦50,000,000, depending on the product and your profile.

Question 3

How long do I have to repay?

Accepted Answer

Paylux loans currently run for a maximum of 1 month. Consistent repayment unlocks higher limits on your next loan.

Question 4

Do I need collateral or a guarantor?

Accepted Answer

Yes. Paylux loans require eligible collateral worth approximately 250% of the loan value. We confirm acceptable asset types during review; a guarantor is not required unless stated in your offer.

Question 5

How fast is the payout?

Accepted Answer

Decision and disbursement happen under 24 hours, straight to the bank account you provide.

Question 6

What does it cost?

Accepted Answer

Interest starts from 15.0% monthly plus a 1.0% processing fee. Every naira you will repay is shown before you accept the offer.

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