Veloci Credit
FAQ
Having trouble finding your answer? We're here to help! Reach out to
us at help@veloci-credit.com.
How can I access Veloci Credit loans?
To use Veloci Credit for loans, download the Veloci Credit app from the Google Play
Store. Search for "Veloci Credit," download the app, and sign up using your phone
number. Alternatively, use this direct link.
What is the borrowing range?
Our loans currently range from ZMW 500 to ZMW 50,000. Timely repayment can increase your
borrowing capacity.
Which networks are supported by Amibillion?
At present, Amibillion supports Safaricom. We are working on expanding our
network
support in the near future.
Which networks are supported by Veloci Credit?
Currently, Veloci Credit supports major Zambian networks. We plan to expand to
additional networks soon.
Can I change my ID number after receiving a loan?
No, you cannot change details used for a successful loan application due to data
integrity standards. Please verify your information before submission.
Can I delete my account?
According to our Terms of Use and Privacy Policy, we collect data to assess loan
eligibility and do not share it for other purposes. You can uninstall the app if you
wish to discontinue using Veloci Credit.
What is required to receive a Veloci Credit loan?
You need to provide your phone number, answer a few questions, and grant access to your
phone data for eligibility assessment.
How does Veloci Credit make lending decisions?
Veloci Credit uses your phone data, including handset details and financial SMS
messages, alongside your repayment history to establish a personalized credit score for
loan offers.
Why was my loan application rejected?
If rejected, don't worry! Persistence and maintaining your phone data may improve future
applications.
How can I increase my chances of acceptance?
Increase your approval chances by saving phone data, maintaining good credit with other
lenders, and accurately inputting account details.
How do I apply for a loan?
Download the Veloci Credit app, open it, and follow the application process.
What is the borrowing range?
Loans range from ZMW 500 to ZMW 50,000. Timely repayments can increase your borrowing
limit.
How long does the application process take?
The application takes only a few minutes.
What interest rate does Veloci Credit charge?
Interest rates vary based on factors like repayment history and operational costs. The
origination fee for a 180-day term is 12%, plus mobile money service fees and standard
SMS/data charges.
How do I provide family and emergency contact information?
Provide accurate information for reliable references, which may be contacted during the
loan assessment.
How should I repay my Veloci Credit loan?
Open the app, select "My Loan," choose your loan, click "Repay In Advance," confirm
details, select a repayment method, and complete the process.
Where can I view my repayment plan?
Check "My Profile," then select "Borrow History" to view due dates and amounts.
What if my repayment isn’t reflected?
If confirmation is delayed, send the transaction message and payment number to Customer
Care.
Can I repay it early?
Early repayment is encouraged to increase future loan offers.
What if I overpay my loan?
Excess funds are returned to your repayment account within 15 days.
Can I repay a loan to someone else?
No, repayments must be for your own loans.
What happens if I pay late?
Late payments incur a 2% daily fee. Timely repayment enables larger future loans but may affect your borrowing options and involve reporting to the Credit Reference Bureau.
Can I postpone repayment?
Veloci Credit cannot adjust plans post-loan. If unable to repay, begin partial payments promptly.
What is a Credit Reference Bureau?
They collect credit data for lenders and promote financial inclusion, impacting your borrowing options.
What happens after clearing a default?
Clearance details are updated and shared with the Credit Reference Bureau within a week. Contact Customer Care for batch numbers.
Can I trust Veloci Credit with my data?
We secure your data with advanced encryption and only use it for loan decisions. We do not sell or misuse your information.
Why do we need phone permissions?
Access to phone data helps us efficiently assess creditworthiness for our loan services.
How do I grant Veloci Credit phone permissions?
In Settings > Apps > Veloci Credit, grant the required permissions.
What are your Terms of Use and Privacy Policy?
Read more in our Terms of Use and Privacy Policy for comprehensive details.
Veloci Credit
Contact Us :help@veloci-credit.com
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