Purpose:
To help members understand how loan repayment schedules work, how interest is calculated, and how to stay compliant and on track.
Title: Understanding Loan Repayment Schedules & Interest
Category: Loans & Credits
Section: Cooperative Loans
Overview
Monivest loans are structured to balance member access, cooperative risk, and capital safety. Knowing your repayment schedule and interest calculation ensures transparency and prevents surprises.
All loans have a fixed repayment period based on loan type and amount
Repayments are typically weekly, bi-weekly, or monthly
You can view your schedule in [Loan Portfolio → https://app.monivest.ng/user/portfolio/followed/loan]
Early repayment is allowed for BVN-verified members without penalty
Interest is performance-based or fixed depending on loan type
Standard cooperative loan interest is applied to principal amount only
Interest rates are displayed during loan application
Collateralized loans may have adjusted rates depending on risk and insurance coverage
Monivest sends notifications before each repayment due date
Members can track repayments via the dashboard or transaction list
Helps prevent default and ensures your cooperative profile remains in good standing
BVN-verified members: flexible repayment rescheduling available
Private mode: delayed payment affects cooperative standing and future loan eligibility
All cases follow Monivest’s risk management protocols — capital is protected, but interest may accrue or be adjusted
Always maintain wallet balance ahead of due dates
Align loan repayment with project returns or savings maturity
Monitor your [Transaction List → https://app.monivest.ng/user/transactions] for accurate payment tracking
Pro Tip:
Repaying on schedule not only builds cooperative trust but also increases your eligibility for higher loan limits and faster approvals.