Loan Terms & Conditions

1. Application and Assessment

Every loan application is assessed on its merits. We review your business activity, income source, repayment capacity, identification, references and where required, guarantors. Assessment outcomes are communicated to you, and an offer is made only where we are able to lend responsibly.

2. Offer Letters and Agreements

Approved facilities are confirmed through a documented offer letter and loan agreement stating the principal amount, interest rate, tenor, repayment schedule, fees and any security required. No terms take effect until these documents are signed by both parties.

3. Interest Rates

Rates scale with facility size as published in our Rate Guide: 12% per annum for facilities below ₦1M, rising in steps to 30% for ₦100M and above. Rates may vary by assessment outcome and are always stated in your offer letter before signing.

4. Repayment

Repayments are made according to the schedule in your agreement, through our branches, agent network or approved transfer channels. Receipts are issued for every payment. Early repayment is welcome and may be discussed with your relationship officer.

5. Late Payment and Default

If you expect difficulty meeting a repayment, contact your relationship officer early — we prefer to restructure arrangements. Persistent non-payment may result in agreed contractual consequences, recovery action through proper legal channels, and reporting to credit reference agencies where applicable.

6. Use of Funds

Loan proceeds are intended for the purpose stated in your application. Diversion of funds may affect your eligibility for future facilities.

7. Customer Obligations

Customers agree to provide accurate information, honour repayment schedules, notify us of material changes to their business or contact details, and use funds lawfully.

8. Our Obligations

We commit to transparent pricing, documented agreements, respectful treatment, confidentiality of your information (see our Privacy Policy) and clear communication throughout the life of the loan.

9. Complaints

If you are dissatisfied with any aspect of your loan, contact your branch or write to info@xanderdirect.com. Complaints will be acknowledged and addressed within a reasonable timeframe.

10. Changes to Terms

These general terms may be updated from time to time. Terms applicable to your specific facility are those in your signed agreement.