What is the required down payment amount, and how frequently will the installment payments be made?

The required down payment for any item is 30% of the item cost.

If a customer’s BNPL credit eligibility is less than the total item cost, the customer will be required to pay:

1. At least 30% of the item cost (standard down payment), and
   
   

2. The deficit (the difference between the item cost and the customer’s BNPL credit limit).
   
   

Scenario 1:
If a customer wants to buy an item for N100,000.  And the customer is eligible for ₦120,000 BNPL credit. The customer will pay only 30% of N100,000, which is N30,000.

Scenario 2:
 If a customer wants to buy an item of N100,000. And the customer is eligible for N60,000 BNPL credit. He will pay 30% of the item cost (₦30,000) plus the deficit (₦40,000, since his eligibility is ₦60,000 and the item costs ₦100,000). In total, he will pay ₦70,000 upfront.

The balance is then spread into installments, payable monthly on the agreed date. Customers also have the option to repay earlier than the due date.

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