EyoKash Terms of Service - Nigeria Small Loan Application
Effective Date: December 5, 2025
By accessing or using the EyoKash mobile application (the “App”), which is operated by WINNORIZON TECH SERVICES LTD (“we,” “us”), you agree to be bound by these Terms of Service (“Terms”), our Privacy Policy, and all applicable Nigerian laws, including the Central Bank of Nigeria (CBN) Digital Lending Guidelines.
Acceptance of Terms
By installing or using the App, you confirm that you understand and agree to:
- These Terms of Service
- Our Privacy Policy
- Compliance with Nigerian law and CBN guidelines
Eligibility Requirements
To use EyoKash loan services, you must:
- Be a Nigerian resident aged 18 or older
- Possess a valid Bank Verification Number (BVN)
- Maintain a functional Nigerian bank account
- Consent to real-time identity verification (camera and/or location)
Financial product disclosures (Loan Terms,APR)
Loan Amount: Minimum ₦10,000 to Maximum ₦500,000 [Subject to individual credit evaluation].
Repayment Tenure: Minimum 91 days to Maximum 365 days.
Annual Percentage Rate (APR): Minimum 12% to Maximum 36% per annum. The APR includes the core interest rate plus applicable processing fees.
APR Range: 16% - 24% per annum inclusive of interest and mandatory fees.
Hidden Charges: There are no hidden transaction fees, maintenance costs, or rollover administrative fees outside of what is explicitly detailed during your application process.
Representative Loan Example:
If a user is approved for a loan of ₦100,000 with a 91-day tenure, the Annual Percentage Rate (APR) is 16%, inclusive of interest and all mandatory fees.
The repayment schedule is as follows:
Stage 1
· Loan Amount: ₦50,000
· Interest: ₦900
· Processing Fee: ₦1,800
· Repayment Amount: ₦52,700
Stage 2
· Loan Amount: ₦50,000
· Interest: ₦460
· Processing Fee: ₦920
· Repayment Amount: ₦51,380
· Repayment Date: 46 days after Stage 1 disbursement
Loan Summary
· Total Loan Amount: ₦100,000
· Total Interest: ₦1,360
· Total Processing Fee: ₦2,720
· Total Repayment Amount: ₦104,080
The APR of 16% represents the total annualized cost of credit, including interest and mandatory processing fees.
Loan Services
a) Application Process
- Submit BVN and contact details via the App
- Consent to credit checks with recognized Nigerian bureaus (e.g., CRC Credit Bureau)
b) Disbursement & Repayment
- Loans are disbursed directly to your Nigerian bank account
- Repayment options: Bank transfer, USSD, or auto-debit
License Restrictions
You MUST NOT:
- Use fake or fraudulent identification documents
- Operate multiple accounts to bypass limits
- Reverse-engineer the App or extract its data
- Resell loans or assign them to third parties
Violations may be reported to the EFCC (Economic and Financial Crimes Commission).
Data Usage Consent
By using the App, you consent to:
- Fraud monitoring using location and camera data
- Reporting to credit bureaus, including loan defaults
- Regulatory audits by CBN and NDPC (Nigeria Data Protection Commission)
Limitation of Liability
- Loan approval is not guaranteed
- We are not liable for:
- Loan rejection due to inaccurate or incomplete information
- System outages affecting repayments
- Failures caused by third-party banks or USSD services
Termination
We may suspend or terminate your account if:
- Fraudulent activity is detected
- You violate these Terms or applicable laws
Governing Law
These Terms are governed by:
- Nigerian law
- CBN Digital Lending Guidelines 2023
Any disputes shall be resolved in the courts of Lagos State, Nigeria.
Changes to Terms
- Updates will be posted in the App at least 7 days before they take effect
- Continued use of the App after updates constitutes acceptance
Contact
For support or legal notices:
Email: [email protected]