Transparency

Rates, Fees & Total Cost

Every rate, fee, and annualised cost for all three Edge Funds products — disclosed in full, in one place.

This is high-cost, short-term credit

Our loans carry flat monthly interest rates. On an annualised basis this represents a high cost of borrowing. Please borrow only what you need, only for as long as you need it, and only if you are confident you can meet the repayment schedule. Borrowing to repay other debt is rarely a good outcome.

Edge Biz – SME Loan

Interest rate7% – 10% flat per month

Flat annual equivalent84% – 120% per annum

Representative APR (reducing balance)≈ 142% – 214% per annum

One-time processing fee2% – 3% of principal

Loan amount₦500,000 – ₦5,000,000+

Tenor1 – 12 months

SecurityUnsecured below ₦5M (guarantor required)

Late payment penalty2% per month on overdue balance

Early repayment feeNone

Representative example

Loan amount₦1,000,000

Tenor6 months

Interest rate7% flat per month

Total interest₦420,000

Processing fee (2.5%)₦25,000

Amount you receive₦975,000

Monthly repayment₦236,667

Total amount repayable₦1,420,000

Total cost of credit₦445,000

Edge Tuition – Student Loan

Interest during study0% (interest-free)

Interest during grace period0% (up to 2 months post-graduation)

Interest after grace period5% flat per month

Flat annual equivalent (post-grace)60% per annum

Representative APR (reducing balance)≈ 100% per annum

One-time processing fee3% of principal

Loan amountUp to full tuition at partner institutions

Repayment tenor6 – 24 months (after grace period)

Late payment penalty2% per month on overdue balance

Early repayment feeNone

Representative example

Tuition financed₦600,000

Study period12 months at 0% interest

Grace period2 months at 0% interest

Repayment tenor12 months at 5% flat/month

Total interest₦360,000

Processing fee (3%)₦18,000

Monthly repayment₦80,000

Total amount repayable₦960,000

Total cost of credit₦378,000

Edge Pay – Salary Access

Interest rateNone — this is not a loan

Service fee5% of each withdrawal

Annualised equivalent cost≈ 130% per annum if used every cycle

Maximum withdrawal50% of net monthly salary

Available fromWeek 2 of each month

RepaymentAutomatically offset at next payroll

Late payment penaltyNone — no repayment is owed by you

EligibilityYour employer must be an enrolled partner

Representative example

Net monthly salary₦100,000

Maximum accessible (50%)₦50,000

Service fee (5%)₦2,500

Amount you receive₦47,500

Deducted at payroll₦50,000

Balance paid at payday₦50,000

Total cost of access₦2,500

How our pricing works

Flat monthly interest means interest is calculated on the original loan amount for every month of your tenor — not on the reducing balance. A ₦1,000,000 loan at 7% flat per month for 6 months accrues ₦70,000 each month, or ₦420,000 in total, regardless of how much you have already repaid.

Why the APR is higher than the flat rate. Because you repay in instalments, you do not have use of the full loan amount for the whole tenor — but flat interest is still charged as though you did. The Representative APR above expresses the true cost on a reducing balance basis, including the processing fee. We show both figures so you can compare us fairly against any other lender.

Nothing beyond what is disclosed. The only amounts you will ever be charged are the interest, the one-time processing fee, and — if you pay late — the late payment penalty. There are no application fees, no insurance charges, no disbursement fees, and no early repayment penalties.

Your exact figures. The rate offered to you depends on loan size, tenor, and credit assessment. Your specific interest rate, all fees, your APR, your total amount repayable, and your full repayment schedule will be set out in writing in your loan offer letter before you are asked to commit to anything.

All figures on this page are representative illustrations for comparison purposes and do not constitute a loan offer. Actual rates, fees, and repayment amounts are subject to credit assessment and will be confirmed in your loan offer letter. See our Terms & Conditions and Privacy Policy.

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