MTN Device Financing Pay Small Small Loan All You Should Know

MTN Nigeria has partnered with PayJoy and Sterling bank to launch a programme called device financing: Pay Small Small. With this, customers will be able to have access to loans to buy smartphones and pay back on installments, within a stipulated period.

Through this platform, you can get a smartphone of your choice and then simply pay small small per month for the device.

You can pay as low as N7500 per month for the device that you have chosen by walking into any MTN experience center nationwide through loans financing by Sterling bank.

What is the MTN Mobile device finance?

The MTN Device Financing Scheme enables eligible customers access credit facilities to acquire smartphones at pocket friendly interest rates, whilst repaying conveniently over a period up to 6 months.

How To Access MTN Device Financing
  1. Open an account with Sterling Bank or Diamond bank for the bank to pay the loan into which can be done in any of the 14 MTN experience center.
  2. Provide access to 3 months bank statements from your most active account in any bank

Who Can Access MTN Device Financing?
  • MTN Device Financing is open to all customers including students and non-students
Note: Once your account is open, you’ll have access credit loan from N25000 – N400,000 to purchase any phone available, and pay back within the agreed time-frame, which ranges from two to six months, and has an interest rate of 18%, and an insurance premium of 4%.
About MTN and PayJoy Collaboration

The scheme is secured and powered by PayJoy, as a risk management tool to make sure the device is taken without payment, should the customer default on his payment.

After a 7-day grace period, the device would be locked; PayJoy is a firmware for locking and unlocking the device for the period given based on the duration of the loan.

If Customers do not pay after the grace period, Sterling bank can then activate its tokenization service to debit the account of the customer provided during registration.

You’ll also have access to Free 2GB data every month, access to a suite of MTN offerings such as MPulse, MTN music plus among others.
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