Blue iFinance

iFinance App

About this app

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.

What’s new

Minor improvements to app performance