Blue iFinance

The iFinance App by Blue Financial Services Ghana Limited gives you fast, secure access to essential financial services all in one place. Core Features • Instant Loans – Apply and receive funds quickly with a fully digital process. • Refund Management – Track and manage your refund with real-time updates. • Smart Investments – Explore investment options to grow your wealth securely. • Seamless Onboarding – Sign up with just your Ghana Card and a selfie. • 24/7 Access • The minimum repayment period is 2 month and the maximum period for repayment is 72 months. • Maximum Annual Percentage Rate (APR) is 45% • A representative loan amount of GHS7,900. • A flat fee rate of 11.52% (GHS909.69) is chargeable on it. • Annual interest rate of 38.9%, charged on reducing balance. • Repayment is monthly for a tenor of 18 months. • The loan amount of GHS7,900 plus associated fees of GHS909.69 yield principal debt of GHS8,809.69. • The principal debt of GHS8,809.69 is amortized as follows: 1. Monthly instalment is established as GHS680.95. 2. Monthly interest of GHS285.58 is charged on the GHS8,809.69 to accrue a balance of GHS9,095.27 at month end. 3. Monthly instalment of GHS680.95 is deducted from the GHS9,095.27 to yield a closing balance of GHS8,410.65. • The process repeats each month where interest is charged on a lesser outstanding principal debt till the total debt of GHS8,809.69 is fully amortized at maturity.