*Each Loan amount attracts a 10% loan fee to affect repayment as seen above
4. Will customers require a minimum amount of credit on their account to access a Credit Advance or digiLoan?
- No. Customers will be able to request a loan regardless of their account balance.
5. If a customer is not qualified for the Credit Advance or digiLoan Offer, will they still be able to receive the credit after dialing the code?
- No. Customers who are not eligible for the service will receive a message stating that they do not qualify for the service at this time once they select the option to get a loan in the Services Menu.
- Customers may not be able to receive a Credit Advance or digiLoan as a result of;
- Not being on the network for more than 6 months
- Topup history/frequency
- Outstanding loan balance
6. Are there more than one Digiloan offers?
- Yes. Customers may be eligible for varied loan amounts.
Ref Table 1.0 (Question 3)
7. How long will the Credit Advance or Digiloan service be offered?
- The Credit Advance or digiLoan service is an ongoing product that is available to select prepaid customers.
Digicel reserves the right at any time, with or without notice, to vary the terms and conditions or to withdraw Credit Advance or digiLoan service.
8. How do customers check their Credit Advance or Digiloan balance?
- Customers will be able to check their Credit Advance or digiLoan balance via the Services Menu *147 and selecting the option to Get Loan Balance from the Credit Advance menu.
- Customers may also use the *120*190# KYD code to access their Credit Advance or digiLoan balance.
9. How do customers repay their Credit Advance or Digiloan?
- Customer will repay their Credit Advance or digiLoan, on the NEXT top up(s) made after a loan was received; only the recharge amount will be applied to the loan balance.
10. What happens if the NEXT top up made is insufficient to repay the Digiloan?
- If a customer’s NEXT top up is not sufficient to repay the Digiloan, any subsequent top-ups made will go towards clearing any outstanding loan balance.
For example: If a customer has a KYD 50.00 loan amount outstanding plus the KYD 5.00 service fee and then does a top up of KYD 40.00 That top up will go towards repaying the KYD 50.00 loan amount firstly, leaving KYD 10.00 to be paid in addition to the loan fee which will then be taken from the next top up made towards the account.
N.B DIGILOANS are repaid with the loan amount being deducted first then the loan fees.
11. How does a customer repay the service fee for Credit Advance or Digiloan?
- Service fees will be deducted from recharges after the loan amount is fully repaid.
N.B Only recharge amounts are applied to loan and fee repayments.
12. If a customer makes a partial payment on an outstanding Digloan will they be able to make another loan request?
- No. Customers must repay all outstanding loans before being able to make another request.
For example: A customer has an outstanding loan of KYD 180.00 and a loan fee of KYD 18.00, if the customer tops up with KYD 100.00, they would have an overall balance of KYD 98.00 left to be repaid. If they should try to request another Digiloan they would receive a prompt advising that they are required to clear all outstanding balances before requesting another loan.
13. Can a customer’s loan amount be repaid with credit that was on their account prior to a Top Up?
- No. Only recharge amounts can be used towards loan repayments.
For example: A customer has KYD 50.00 on their main balance prior to requesting a Digiloan of KYD 110.00 with a loan fee of KYD 11.00. If the customer should make a top-up of KYD 100.00, only the recharge amount of KYD 100.00 will be used towards repaying the outstanding loan i.e. the KYD 50.00 on the main account will remain, as it will not be used towards repaying the Digiloan.
14. What top up methods can be used to repay Credit Advance or Digiloans’s taken?
- All top up methods (plastic & electronic) can be used to repay loans with the exception of Credit U and Data Flex voucher top up methods.
15. If a customer receives credit via Credit U, will it go towards repaying an outstanding Credit Advance or Digiloan balance?
- No. Credit received via the Credit U service will not go towards the repayment of an outstanding loan.
- Customers must make a valid top up to repay the loan.