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This is the amount set by the lender to account for any charge the borrower might incur for defaulting or late payment. The loan amount multiple to be set o...

This is the amount set by the lender to account for any charge the borrower might incur for defaulting or late payment. This amount is usually multiple of t...

Yes, a borrower can re-use a mandate by selecting the already existing mandate while applying for a new loan.

No, a guarantor can not re-use a mandate as each loan is tied to a unique guarantor mandate.

An active mandate can last for as long as the user specifies or configured by the lender.

We keep trying to charge the user’s account for as long as the mandate is active or the loan is repaid; whichever comes first.

Remita attempts to charge a user’s bank account via the debit instruction three to four times a day.

Mandates can be activated based on the setup of the bank. Some banks will permit a user to send their signed mandate to their account managers via email for...

A mandate can be used many times as far as it is still active.

No, users can only take a loan that falls within the range of the mandate they wish to use. If a user would like to take a higher amount of loan, they will ...