Frequently Asked Questions (FAQs)
1. About NanoSAIO Ltd?
NanoSAIO Ltd is a Mauritian based fintech company, licensed by the Financial Services Commission, (Credit Finance Licence No. CF19000014), to offer short term loans, through its mobile application, NanoCASH. NanoSAIO Ltd is one of the participants of the Mauritius Credit Information Bureau, (MCIB), and promotes responsible lending.
2. What are the requirements to be eligible for a NanoCASH loan?
- You must be a citizen of Mauritius. (Living in Mauritius)
- You must be in employment, or self-employed, for a period of at least six months.
- You must have completed any probationary period.
- You can be a pensioner.
- You must have the capability to repay your loan over the agreed period. (MCIB)
3. What are the steps to follow to apply for a NanoCASH loan?
- Download the NanoCASH app from Play Store or App Store.
- Register yourself and submit all the requested documents.
- Apply for your loan via the app.
- Sign the loan agreement if your loan is approved..
4. What are the KYC documents to be uploaded upon my registration and loan application?
- Clear copy of your National Identity Card. (Recto / Verso)
- Clear proof of address dating from less than 3 months. (CEB/CWA/MT Bill)
- Payslips. (Last 3 months - For Employees)
- Bank Statement. (Last 3 months - For Employees) or (Last 6 months - For Self-Employed and Pensioners)
5. How much can I borrow via the NanoCASH app?
You can borrow as from Rs 15,000 to Rs 100,000 depending on your repayment capacityand the type of loan you are applying for.
6. I can see two types of NanoCASH loans on your website; FlashCASH & CorpCASH?
- FlashCASH: All can apply for same loans directly through our NanoCASH app.
- CorpCASH: Only applicants whose Companies / Employers are registered with NanoSAIO Ltd as Partners, can apply for this loan.
7. What is the repayment period for those short-term loans?
From 3 to 12 months depending on the type of loan and value you apply for.
8. What type of interest rates is charged on those short-term loans?
Fixed rate at 18% per annum, meaning 1.5% monthly.
9. What are the fees to be paid if and once my loan is approved?
A processing fee of Rs 500 will apply only if your loan is approved and disbursed. This fee will automatically be deducted from your loan amount prior to the disbursement of the funds in your bank account.
10. Is there a way to check how much I can borrow from NanoCASH prior to engaging on a loan?
Yes. Once you’ve registered on the App, and supplied just your phone and email address, you can use for free, and without any engagement, our ‘Loan Calculator’ which is available on our NanoCASH App dashboard. You just have to insert the loan amounts and periods you wish to check and this simulator will give you the respective amounts to be repaid monthly for the different value and period you plug in.
11. How are the approved loans’ funds provided to the applicants?
We will disburse the funds directly onto your bank account no. indicated on the bank statement you submitted during your application process. Please ensure that you insert the right bank account details during the said process on NanoCASH.
12. When will my first instalment be due?
One month after the disbursement date. Please follow closely to prevent penalties.
13. How to check my repayment schedules and balances?
Your balance and refund details are available in real time on your NanoCASH app. Please log in and check the said details, on the ‘My Loans’ section, on the dashboard.
14. What are my repayment options?
Blink - Cash at the Counter (Mauritius Post) - Internet Banking JUICE - My.t money.
15. Can I make an early settlement?
Yes, provided that the total outstanding amount is paid.
16. What happens if I cannot pay one of my instalments on time?
You will be billed a penalty interest as per the loan agreement.