Legal

Loan terms and conditions

These terms apply to every Credx loan. The same terms are shown in the app before you apply.

Loan eligibility

You must complete your Credx profile and provide accurate employment information before applying for a loan.
Credx may verify the information you provide using approved verification methods before approving your application.
Your loan eligibility and maximum loan amount are determined by factors including your verified income, employment status, repayment history, and Credx's internal credit assessment.
Your available loan limit may increase or decrease over time based on your repayment behaviour, employment status, and Credx's lending policies.
All loan applications are subject to Credx's review and approval.

Once your loan is approved, the approved amount will be credited to your Credx Wallet.
The applicable interest, repayment amount, and loan due date will be displayed before you accept the loan.
By accepting a loan, you agree to repay the total amount due according to the agreed repayment schedule.

Repayments may be collected automatically using your authorized repayment method.
If automatic repayment is unsuccessful, you are responsible for repaying your loan through any alternative payment option provided by Credx.
You authorize Credx to debit your linked repayment account or payment method for all amounts due.

A 7-day grace period applies after your loan due date, during which no late penalty will be charged.
From the 8th day after the due date, a daily penalty will apply to the outstanding loan balance until it is fully repaid.
Failure to repay your loan may result in additional recovery actions in accordance with Credx's policies and applicable laws.

Successfully repay your loans on or before the due date to build a positive repayment history.
Consistent and responsible borrowing may qualify you for higher loan limits over time.
After successfully completing repayment for three (3) loan cycles, you may become eligible to borrow up to 2x your verified net monthly salary, subject to Credx's approval.
After successfully completing an additional three (3) loan cycles, you may become eligible to borrow up to 3x your verified net monthly salary, subject to Credx's approval.

Providing false or misleading information may result in the rejection of your application, suspension of your account, or other appropriate action.
Credx reserves the right to approve, decline, suspend, or cancel any loan application in accordance with its lending policies.
By accepting a loan, you confirm that you have read, understood, and agree to these Loan Terms & Conditions.