Frequently Asked Questions (FAQs)

How does it work?
Simply complete the online application form in minutes and submit.

We’ll review your information and communicate a decision to you within minutes.

If approved, you will receive funds directly into your preferred bank account within 2 working days of loan approval.

How much can I borrow from RAYFINANCE?
You decide how much you want and Once you have paid your first loan on time, the possibility of you receiving a higher credit limit increases.

The more times you take a RAYFINANCE loan and repay successfully, the more we can lend to you.

How do I apply?
Simply Complete the online application form with valid information, then select the preferred amount you would like to borrow and view the expected repayment(s).

Submit your application and we will notify you instantly if the loan is approved or not.

How do I pay back my RAYFINANCE Loan?
After 30 days of receiving your loan, RAYFINANCE deducts 10% of the received loan from the debit card you provided as your monthly repayment.

Our Repayment System Provides That You Are To Payback 10% Of The Received Amount

Every Month Starting After 60 Days Of Receiving Fund.

Should You Have Any Reason Why You Should Not Meat Up With This Monthly Repayment System At Any Time, Please Contact Us As Soon As Possible.

Why do I have to pay the total interest on the loan upfront?
1 - We request for the total interest on the loan upfront in order to enable us reduce the interest rate on our loan services.

2 - We Want To Be Sure That The Debit Card You Must Have Provided Is Enrolled For Online Uses As You Are To Make Your subsequent Monthly Repayment Via This Provided Card.

Can I access RAYFINANCE Loan from any location?
RAYFINANCE loan is available on nationwide via the internet .

Why is my bank account required?
It’s important for us to disburse your funds to your preferred account, as quickly as possible.

We request bank account details as that is where we will disburse fund to, if approved.

Please note that this must be a personal bank account in your name.

Can I get a higher loan amount?
Eligible salary earners can apply for a RAYFINANCE VIP loan of more than N1,000,000, after providing the necessary documents.

Is RAYFINANCE a bank?
No, RAYFINANCE is not a bank. We do not receive deposits from the general public nor do we offer savings or current accounts.

RAYFINANCE is a licensed and regulated finance company.



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