Account creation and loan application are swift and 24/7. No down time. You can apply for or fund loans anytime.
KiaKia charges no application nor lender listing fees.
Assigned personalised virtual agent at your beck and call anytime with little or no human intervention during the application process.
What Mr. K Does For You
Access personal and small business loans in real-time 24/7.
Learn about scoring and how you can build your credit score based on your activity on the platform and financial behaviour.
Get friendly repayment reminders and notifications before repayment on your due date.
Get listed as a lender, fund loans and earn good interest rates.
Check your application status, loan status, interest rates and credit profile.
AS FEATURED IN
Mr. K™ and KiaKia™ are registered trademarks of KiaKia Bits Ltd. KiaKia™ is authorized and regulated by the Money Lenders Act Cap 52. KiaKia™ and Mr. K™ are trading names for KiaKia Bits Ltd. (RC N∗ 799552)
Dele Onabule Street, Magodo Brooks Estate, Lagos.
Suite S3, Pathfield Mall, 4th Avenue, Gwarinpa, Abuja.
1. Definitions & Interpretations
For the purposes of the Terms:
"Terms" means these terms, consisting of:
any other relevant specific terms, policies, disclaimers, rules and notices agreed between the parties, (including any that may be applicable to a specific section or module of this web site);
KiaKiaTM means KiaKia Bits Ltd. KiaKia Bits is a licensed Direct and P2P lending platform.
Visitor or You means any person who visits this web site.
User means a person that has signed up on the KiaKiaTM platform, and holds a client account, for the purpose of borrowing.
A word defined or assigned a meaning in the Terms will start with a capital letter. All headings are inserted for reference purposes only and must not affect the interpretation of the Terms. Whenever including or include, or excluding or exclude, together with specific examples or items follow a term, they will not limit its ambit.
Terms other than those defined within the Terms will be given their plain English meaning. References to any enactment will be deemed to include references to the enactment as re-enacted, amended, or extended from time to time. A reference to a person includes a natural and juristic person and a reference to either party includes the party’s successors or permitted assigns.
Unless otherwise stated in the Terms, when any number of days is prescribed in the Terms the first day will be excluded and the last day included. The rule of construction that an agreement must be interpreted against the party responsible for its drafting or preparation does not apply.
West African Time or GMT +1 will be used to calculate any times.
ABOUT KiaKiaTM: This web site is owned, managed, and administered by KiaKia Bits Ltd. KiaKiaTM is a business that specializes in money lending through virtual means such as the Internet. KiaKiaTM is fully compliant with the money lending legislative requirements of Nigeria and promotes responsible lending and borrowing. KiaKiaTM also strives to provide superior administration and management of client accounts.
KiaKiaTM grants each Visitor a limited, revocable license to use this web site subject to the Terms. Any person wishing to use this web site contrary to the Terms must obtain prior written consent from KiaKia Bits Ltd. The information offered on this web site is for the Visitor’s guidance only. The information offered is for quotation purposes only, and is subject to change on final submission of an application. KiaKiaTM has taken every care to ensure that the information provided on this web site is reliable by using sources we believe to be accurate. However, the accuracy of the information (including rates, fees, and charges),cannot be guaranteed.
In order for KiaKiaTM to provide a Visitor with appropriate advice and/or quotations on products, it is important that a Visitor provides KiaKiaTM with sufficient particulars of their financial affairs. Failure to make a full disclosure could result in the advice of KiaKiaTM being compromised and may result in a Visitor thus making a financial commitment to a product inappropriate to their needs and objectives.
No person, business, or web site may frame this web site or any of the pages on this web site.
Visitor(s) may link to the web site only by linking to the home page of this web site. KiaKiaTM prohibits Visitor from “deep linking” to any other pages in a manner that would incorrectly suggest endorsement or support of Visitor by KiaKia or suggests a Visitor is the owner of any intellectual property belonging to KiaKia.
Spiders and Crawlers.
No person, business, or web site may use any technology (including spiders or crawlers) to search and gain any information from this web site.
KiaKiaTM may modify, suspend, or discontinue the provisioning of this web site to the public (WITH or WITHOUT notice) and will not be liable for any claims.
Furthermore, KiaKiaTM also reserves the right to modify the terms and conditions that govern the relationship with users (with or without notice) and will not be liable for any claims that result in terms of such a change.
1.4 Capacity of customer.
Each Visitor represents and warrants that Visitor :
is old enough under applicable law to enter into the Terms;
possesses the legal right, full power, and authority to enter into the Terms;
will submit true, accurate and correct information to KiaKiaTM and this web site.
If Visitor is younger than 18 years of age, the visitor warrants that the Visitor has the consent of its legal guardian to enter into the Terms or that the Visitor has obtained legal status in another manner.
2. Before you apply
Be aware and advised that we take the credibility of our site users very seriously, hence we use industry's most advanced data integrity authentication validation systems. Users of this site must ensure that personal data are AUTHENTIC and GENUINE to prevent avoidable blacklisting, denial of service and possible criminal prosecution WHEN and WHERE necessary.
Be advised that our primary means of identification for all our website users (borrowers and attesters) is the BVN (Bank Verification Number).
Our loans are designed for both short-term consumer and long term business purposes. Our short term loans are designed to provide financial credits for urgent and unexpected consumer needs before your next employment or business income. Our loan rates could be as high as 240% APR (Annual Percentage Rate).
KiaKia is neither a deposit money bank, finance house, micro-finance bank nor fund manager. We are a licensed direct and peer-2-peer lending platform. KiaKiaTM nor any of our affiliate services will never solicit nor ask you for fund deposits with us. Please, kindly contact us to report if anyone contacts you soliciting for funds.
We will never ask you to share your debit card details either via email, SMS or phone call.
3. Index of Terms
AFFORDABILITY ASSESSMENT: It is a calculation performed by the lender to determine the exact loan repayment amount that a customer qualifies for.
ADMINISTRATION FEES: Money that the lender requires to administer or maintain the agreement.
ACCOUNT STATEMENT: A summary of your financial transactions (monies paid and owed) over a certain period of time.
ATTESTATION: A process of authentication and verification of the digital information on the financial credibility and reputation of a loan application data submitted by a borrower.
ATTESTER: A credible person who can authenticate and vouch for the financial credibility and reputation of a borrower.
BANK ACCOUNT VERIFICATION: Checking with the bank that you are indeed the owner of the bank account you used in your application.
BANK VERIFICATION NUMBER (BVN): This is the unique ten-digit biometric information number for identifying and verifying all individuals that have account(s) in any Nigerian commercial bank and consequently, and also a means of authenticating the identity of customers at point of transactions.
CREDIT BUREAUX: Institutions that hold, issue and investigate reports on consumers' credit information.
CREDIT CHECK: The process of looking into the credit record of a loan applicant to determine if they are financially healthy enough to qualify for a loan.
CREDIT AGREEMENT: The physical document representing a legal agreement between a borrower and a lender where a lender gives the borrower money and the borrower has to pay it (and any additional fees and interest) back to the lender.
DIRECT DEBIT MANDATE: An instruction given to your bank to pay funds across to a third party (in this case Remita), at a fixed amount, on an agreed date.
DEFAULTING ON A PAYMENT: Not providing the money you owe to the lender on the agreed upon date.
DEBT ENFORCEMENT (Debt recovery): The legal procedures a lender can take to collect monies that are overdue.
DEBT COLLECTIONS COMPANY (Recovery Company): A company that is hired by the lender to assist in collecting overdue payments.
EARLY REPAYMENT: Paying the full outstanding debt amount before the agreed upon date.
FINANCIAL ARREARS: When you fall behind on your repayments, you go into financial arrears.
INTEREST: The amount that the lender charges a borrower on the outstanding balance of their credit agreement. The percentage rate at which this is calculated every period (daily, monthly, yearly), is called the Interest Rate.
LOAN INSTALMENT: The repayment amount due over the time period the borrower agreed to. It is a one-off payment.
OVER-INDEBTEDNESS: A borrower is over-indebted when he/she can not afford to repay their debt payments at the end of the month.
ONLINE LOAN: A loan that you can apply for online (via an internet enabled computer or phone). The process is usually paperless and you do not have to visit the branch or office of the lender.
PENALTY INTEREST: If the borrower defaults on his/her loan repayment, the lender is allowed to penalize the borrower by adding more interest to the outstanding amount.
TRUST POINTS: This is a unique incentive system which KiaKiaTM uses to reward and encourage borrowers to be responsible and remain creditworthy. A Trust Point is gained by a borrower when he or she has made a timely repayment, and is structured such that timely loan repayment (on or before due date) earns the borrower 5 Trust points.
UNSECURED LOAN: A loan that is not supported by the assets (like property or a vehicle) of the borrower and is only backed by the promise of the borrower that he/ she will repay the money owed.
COLLECTION ON USE.
Once a Visitor visits this web site, a Visitor is not anonymous to KiaKiaTM. When visiting, each Visitor provides Data, which may include an ID number, a contact number, a street address, and an email address. KiaKiaTM may also record the IP address of a Visitor when adding Data.
KiaKiaTM does not intentionally gather Personal Information about visitors who are under the age of 13.
COLLECTION FROM BROWSER.
KiaKiaTM automatically receives and records information on the server logs of KiaKiaTM from the browser of a Visitor, including an IP address, KiaKiaTM cookie information, and the page requested. Each Visitor should be aware that other web sites visited before entering the web site might place Personal Information within a URL of a Visitor during a visit to it, and KiaKiaTM has no control over such web sites. Accordingly, a subsequent web site that collects URL information may log some Personal Information.
MESSAGES AND UPDATES.
KiaKiaTM may send to a Visitor administrative messages and email updates regarding the web site, or its Services. In some cases, KiaKia may also send a Visitor, primarily promotional, messages.
UPDATING OR REMOVING.
A Visitor may choose to correct or update some of the Data they have submitted to KiaKiaTM. The client area also provides the user with an interface where details can be updated. If details change that impact the collectability or contractibility for an active product, the client is responsible for contacting KiaKiaTM to ensure that the correct details are present on the system.
Any unauthorised use of KiaKiaTM information systems is a violation of the Agreement and certain laws. Such violations may subject the person to civil and criminal penalties. Use of the services of this website is limited to residents of Nigeria or any individual residing in Nigeria with the proper clearance documentation and temporary identification documentation.
INTERCEPT AND MONITOR.
KiaKiaTM may intercept, monitor, block, filter, read, delete, and disclose any communication over its information system. This includes, but is not limited to the tracking of user Internet Protocol addresses (IP Addresses) and users agree that KiaKia may request their personal information from their Internet Service Provider for whatever reason the site sees fit in order to ensure a safe and trusted relationship with the user.
KiaKiaTM is not responsible for, gives no warranties, nor makes any representations in respect of the privacy policies or practices of linked or any third party web sites. KiaKiaTM information systems is provided to users and used by KiaKiaTM “as is” without warranty of any kind, either expresses or implied, including but not limited to the implied warranties of merchantability and/or fitness for a particular purpose. KiaKiaTM cannot be held liable for any mistakes that arise from use of the information systems that govern the administration of products including but not limited to the unintentional disclosure of personal information.
TRANSFER ACROSS BORDERS.
KiaKiaTM may transmit or transfer Personal Information outside the resident jurisdiction of the Visitor and therefore across borders. Personal Information may be processed by KiaKiaTM in the country where it was collected as well as other countries where laws regarding processing of Personal Information may be less stringent.
KiaKiaTM may disclose aggregate statistics (information about the customer population in general terms) about the Data to advertisers or business partners.
THIRD-PARTY SUPPLIERS OR AGENTS.
KiaKiaTM may need to provide Data to a third-party supplier to supply or provide specific Services to a Visitor (such as providing a quote or contacting a Visitor). Each third party supplier is required to only disclose or use the Data to supply or provide the specific Services requested.
KiaKiaTM may disclose Data if required:
by a subpoena or other legislative or administrative order by law;
to protect the safety of any individual or the general public;
to prevent violation of the Agreement, or the rights of KiaKiaTM or any third party.
An IP address may be disclosed to a third party:
if the law or a legal process requires it;
to protect the rights or property of KiaKiaTM, a Visitor, or the general public.
CHANGE OF OWNERSHIP.
If KiaKiaTM undergoes a change in ownership, or a merger with, acquisition by, or sale of assets to, another entity, KiaKiaTM may assign its rights to the Data it processes to a successor, purchaser, or separate entity. KiaKiaTM will notify each Visitor of the transfer and the Visitor may choose to modify its Personal Data at that time. If a Visitor is concerned about its Data migrating to a new owner, the User may deactivate or delete its account.
KiaKiaTM may need to disclose Data to its employees that require the Data to do their jobs.
KiaKiaTM may disclose Data to designated third parties to resolve or investigate abuse complaints. KiaKiaTM may release Data to assist in attempting to block an abusive Visitor or complain to its Internet Service Provider of an abusive Visitor.
SECURITY OF DATA.
KiaKiaTM uses some of the most advanced security measures to protect the Data under its control. All Data is safe, secure, and available only to the Visitor and those to whom Visitor has granted permissions. In addition, the web site is hosted in a secure server environment that uses a firewall and other advanced security measures to prevent interference or access from outside intruders.