FAQ

The minimum loan amount is ₦100,000 and customers may borrow up to ₦1,000,000, subject to eligibility and approval. Loan tenor may be up to six months. The approved amount and tenor depend on repayment capacity, verifiable income, credit profile and other applicable criteria.

Applicants may be required to provide six months’ bank statements showing income or salary inflows, a completed Starseed KYC Form, valid national identification, a recent utility bill/rent receipt/lease agreement where applicable, a recent passport photograph, employment or other evidence of sustainable income, a Direct Debit Mandate where applicable, and any other documents required for credit assessment.

Customers should ensure that their designated bank account is adequately funded on or before the repayment due date. Depending on the loan arrangement, approved repayment channels may include Direct Debit Mandate, online repayment channels and cheques where applicable.

Yes. Starseed conducts a credit assessment and credit check as part of the loan application process. The outcome is considered before final approval and disbursement.

Once an application has been successfully assessed and approved, and all required documentation and repayment arrangements have been completed, the approved loan may be disbursed into the designated bank account within four hours, subject to applicable conditions and banking processes.

Yes. Every application is subject to Starseed’s eligibility, credit assessment and approval criteria. An application may be declined where requirements are not met or the facility is assessed as unsuitable for the applicant.

Eligibility depends on the specific product. Starseed currently provides loans to salary earners and non-salary earners living in Lagos, subject to applicable eligibility and credit assessment requirements.

Starseed offers competitive interest rates that may be structured as 4% flat interest per month or 5% per month on a reduced balance basis. The applicable rate and repayment terms depend on the specific product and the terms communicated to and accepted by the customer.

Yes. Customers may pay down or liquidate an outstanding loan before the end of the agreed tenor, subject to the applicable terms and conditions.

Yes. A good credit history and responsible repayment behaviour may qualify customers for improved lending terms over time, subject to eligibility and credit assessment.

Starseed loans are currently available to salary earners and non-salary earners who live in Lagos, subject to the requirements and credit assessment applicable to the relevant product.