Loan Agreement

Introduction

These Terms and Conditions govern the relationship between the Borrower (“you”) and Sawa Pesa, operated by BACHCHI FINANCE PRIVATE LIMITED, regarding the provision of loans. By accessing or using the Sawa Pesa service, you agree to comply with all terms set forth below.

Key Loan Information

Loan Amount Range: 100,000 to 800,000

Repayment Period: 91 to 270 days

Maximum APR: 18%

Fees: No hidden fees or additional charges

Eligibility and Requirements

To qualify for a Sawa Pesa loan, you must:

Be 20 to 55 years of age.

Own a valid local ID document.

Have a mobile wallet

Provide accurate personal information and meet any credit assessment criteria as determined by Sawa Pesa.

Application and Approval Process

Download & Install: Get the Sawa Pesa app from the designated app store.

Register: Provide basic personal details and verify your mobile wallet.

Loan Selection: Select the desired loan amount (within 100,000 to 800,000) and repayment period (91 to 270 days).

Submission: Confirm your application. Once submitted, Sawa Pesa will review and assess your eligibility.

Approval Notification:

If approved, you will receive a notification (in-app, SMS, or email) outlining the loan specifics: principal, term, interest rate (up to 18% APR), and repayment schedule.

You must accept these terms before funds are disbursed.

Loan Disbursement

Upon approval and acceptance of the loan terms:

Funds are transferred directly to the mobile wallet you have linked.

Please verify that your wallet details are correct to avoid any misdirection or delays.

Repayment Terms

Repayment Schedule:

You agree to repay the principal plus any accrued interest by the end of the selected loan period (91 to 270 days).

The exact due dates and amounts will be clearly presented in your repayment schedule.

No Hidden Charges:

Sawa Pesa does not impose additional or undisclosed fees. Your total repayment consists of principal plus interest only.

Early Repayment:

You may settle your loan balance early, which could reduce your overall interest cost. Refer to in-app instructions or your repayment schedule for more details.

Late Payments and Default

Consequences of Late Payments:

Missed or delayed payments may incur additional costs, such as default interest or penalties (if applicable), and can affect your credit history.

Persistent late repayments could result in formal collection efforts or legal action.

Notification of Delays:

If you anticipate a delay, promptly contact Sawa Pesa’s support for possible solutions or alternative arrangements.

Privacy and Security

Local Regulations:

Sawa Pesa complies with applicable laws and regulations concerning data protection and user privacy.

Data Usage:

Your personal data is used solely for loan evaluation, disbursement, repayment processing, and compliance with legal or regulatory requirements.

We will not share your information with unauthorized parties.

Data Protection Measures:

Sawa Pesa employs high-level safeguards to protect personal and financial information from unauthorized access, disclosure, or misuse.

Contact Us

For inquiries or assistance regarding your loan, you can reach us at:

Email: mail@bachchifin.com

Our support team is prepared to address any concerns promptly and professionally.

General Provisions

No Illegal Use:

The borrowed funds must not be used for unlawful activities.

Changes to Terms:

Sawa Pesa reserves the right to revise these Terms and Conditions to comply with changing regulations or improve the service. You will be notified (via in-app messages, SMS, or email) of any significant updates.

Governing Law:

These Terms and Conditions are governed by applicable local laws. Any disputes arising from this agreement will be subject to the jurisdiction of the competent local courts.

Acceptance of Terms:

By applying for or accepting a loan, you acknowledge that you have fully reviewed and agree to the terms stated herein.