This document sets out the terms and conditions of your loan agreement with M.S. MAKAN LEASING AND FINANCE PRIVATE LIMITED (“the Lender,” “we,” or “us”). By submitting a loan application through the Nova Funds mobile application and accepting an approved offer, you agree to the following terms.
Lender
M.S. MAKAN LEASING AND FINANCE PRIVATE LIMITED
CIN: U51505DL1993PTC052374
Registered Address: 42, New Market, Tilak Nagar, New Delhi – 110018
Borrower
The individual user who registers and applies through the Nova Funds application (“you”).
Loan Amount Range: 500 – 8,000 GHS
Repayment Period: 91 – 360 days
Annual Percentage Rate (APR): up to 24% (fixed)
Processing Fee: 1% of the loan amount (deducted once at disbursement)
Other Charges: None
All fees and rates are disclosed upfront. No hidden charges apply.
If you borrow 2,000 GHS for 180 days:
Processing Fee (1%): 20 GHS
Amount Disbursed: 1,980 GHS
Interest (24% APR over 180 days): 240 GHS (approx.)
Total Repayment: 2,240 GHS
At the end of 180 days, the borrower will repay 2,240 GHS in total.
To be eligible for a Nova Funds loan, you must:
Be between 20 and 60 years old
Hold a valid local electronic wallet in your name
Provide accurate and verifiable personal details
Meet internal credit assessment standards
Download Nova Funds from the official app store
Register with your mobile number
Provide personal details and verify your identity
Select a loan amount and repayment period
Review and accept the loan offer if approved
Receive funds directly into your electronic wallet
You will be notified of approval status via the app, SMS, or email. Disbursement happens only after you accept the final terms.
Repayment is due on or before the date in your repayment schedule.
Early repayment is permitted at any time — interest will be recalculated accordingly.
Repayments are made directly through your electronic wallet.
Late or missed payments may result in default interest, reporting to credit bureaus, or collection measures under applicable Ghanaian law.
Borrowers should contact us early if repayment difficulties are expected, so alternative arrangements may be discussed.
We charge only:
1% Processing Fee (deducted once at disbursement)
Interest at disclosed APR (up to 24%)
No application fees, no hidden service fees, and no prepayment penalties.
Your personal and device data will be used solely for:
Identity verification
Credit evaluation
Loan servicing and repayment management
Compliance with legal obligations
Fraud detection and prevention
We follow strict data protection practices and do not sell your personal information.
By accepting a loan, you confirm:
All information you provide is true and accurate
You understand the total repayment obligation
Funds will not be used for unlawful purposes
You will repay the loan according to the agreed schedule
The Lender may amend this agreement as required by regulatory or operational needs. Any change will be communicated via the Nova Funds app. Continued use of the service means you accept the updated terms.
This agreement is governed by the applicable laws of Ghana, with reference to the jurisdiction of regulatory bodies overseeing financial services in the country. Any disputes will be resolved through competent local courts.
For support or inquiries, please contact:
Email: info@msmakanleafin.com
Address: 42, New Market, Tilak Nagar, New Delhi – 110018
Customer service will respond within the legally required timeframe.