Access to loan capital at low interest rate

Beyond loans, Segmentico empower schools to strategize offerings around the welfare of the child, especially with increasing parent expectations and many more schools to choose from.

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  • Why choose us?
  • Services
  • Our Policy

Why choose us?

Our efforts are widely appreciated and we are proud to have earned the confidence and trust of our customers, lenders and our investors.

  • Nigeria's first company which funds educational segment exclusively
  • Extending loans for capacity building & for improving quality of education
  • High social impact majority of loan to low-fee private schools
  • Team of experienced professionals
5
Competent Team
47
Private School
N 16,520,000.00
Loan Amount Disbursed
69
Happy Customers

What We Offer


Advisory Service

We provide unique services to help improve student and teacher performance.


Training

We provide training For the school proprietors to run their schools effectively.


Finacial Loan

We offer financial loan to low fee schhol for their educational development


Educational Technology

Integrating classroom activities with education technology.

POLICIES


Fair Practices Code

Segmentico Limited (hereinafter written as Company) is a Non-Banking Finance Company registered with Lagos State Government and is in the business of lending to the Private schools for their infrastructural requirements.


Objective of the Code

  • To ensure that the company follows and practices fair and transparent dealings with the customers.
  • Ensuring that the company’s products are compliant with relevant laws and regulations.
  • To strengthen the grievance redressal mechanism of the company

Applications for loans and their processing:

  • All communications to the borrower shall be in English language.
  • The Loan application forms of the Company will include necessary information which affects the interest of the borrower, so that a meaningful comparison with the terms and conditions offered by other institutions can be made and informed decision can be taken by the borrower.
  • The loan application form will indicate the documents required to be submitted with the application form.
  • If any additional details/ documents are required, the same shall be intimated to the borrowers immediately.
  • The Company will have a system of giving acknowledgement for receipt of all loan applications. The time frame within which loan applications will be disposed of will be indicated in the acknowledgement.

Loan Appraisal and Terms and Conditions:

  • The Company will convey in writing to the borrower in English language by means of Offer letter or otherwise, the amount of loan sanctioned along with the terms and conditions including annualized rate of interest and method of application thereof and keep the acceptance of these terms and conditions by the borrower on its record.
  • The Company will mention the penal interest charged for late repayment in bold in the loan agreement.
  • The Company will furnish a copy of the loan agreement along with a copy each of all enclosures quoted in the loan agreement to all the borrowers at the time of sanction / disbursement of loans

Disbursement of Loans Including Changes in Terms & Conditions:

  • The Company will give notice to the borrower of any change in the terms and conditions including disbursement schedule, interest rates, service charges, prepayment charges etc. The Company should also ensure that changes in interest rates and charges are effected only prospectively. A suitable condition in this regard should be incorporated in the loan agreement.
  • Decision to recall / accelerate payment or performance under the agreement will be in consonance with the loan agreement.
  • The Company will release all securities on repayment of all dues or on realization of the outstanding amount of loan subject to any legitimate right or lien for any other claim the Company may have against borrower. If such right of set off is to be exercised, the borrower will be given notice about the same with full particulars about the remaining claims and the conditions under which the Company is entitled to retain the securities till the relevant claim is settled/paid.

General:

  • The Company will refrain from interference in the affairs of the borrower except for the purposes provided in the terms and conditions of the loan agreement (unless new information, not earlier disclosed by the borrower, has come to the notice of the Company).
  • In case of receipt of request from the borrower for transfer of borrower account, the consent or otherwise i.e. objection of the Company, if any, will be conveyed within 21 days from the date of receipt of request. Such transfer shall be as per transparent contractual terms in consonance with law. In the matter of recovery of loans, the Company will not resort to undue harassment viz. persistently bothering the borrowers at odd hours, use of muscle power for recovery of loans, etc. To avoid rude behavior from the staff of the Company, the Company shall ensure that the staff are adequately trained to deal with the customers in an appropriate manner

Repossession of vehicles:

The Company has a built-in re-possession clause in the contract/loan agreement with the borrower which is legally enforceable. To ensure transparency, the terms and conditions of the contract/loan agreement contains provisions regarding:
(a) Notice period before taking possession;
(b) Ccircumstances under which the notice period can be waived;
(c) The procedure for taking possession of the security;
(d) A provision regarding final chance to be given to the borrower for repayment of loan before the sale/auction        of the property;
(e) The procedure for giving repossession to the borrower and
(f) The procedure for sale/auction of the property


Regulation of Interest rates:

  • The Board of Directors will adopt an interest rate model for determining the rate of interest to be charged on loans and advances, processing and other charges taking into account relevant factors such as, cost of funds, margin and risk premium, etc. The rate of interest and the approach for gradations of risk and rationale for charging different rate of interest to different categories of borrowers shall be disclosed to the borrower or customer in the application form and communicated explicitly in the sanction letter.
  • The rates of interest and the approach for gradation of risks shall also be made available on the website of the Company. The information published in the website or otherwise published should be updated whenever there is a change in the rates of interest.
  • The rate of interest should be annualized rates so that the borrower is aware of the exact rates that would be charged to the account.

Pricing Policy

Segmentico Limited will follow the following internal guiding principles and interest rate model for determining Interest rate, processing fees and other charges to our customers, as laid out by the board. Segmentico will apply best industry practices so long as such practice does not conflict with or violate CBN guidelines. The policy of Segmentico for determining Interest Rates, Processing and Other Charges is as follows:

Interest Rates

  • The rate of interest shall be determined based on the cost of borrowed funds, matching tenor cost, market liquidity, refinance avenues, offerings by competition, tenure of customer relationship, cost of disbursements (Cost of Fund). In addition to the cost of fund, the rate of interest shall further be determined based on inherent credit and default risk in the products and customer per se arising from customer segment, profile of the customers, professional qualifications, stability in earning and employment and repayment ability, overall customer yield, risk premium, nature and value of primary and collateral securities, past repayment track record of the customers, external ratings of the customers , industry trends, etc.
  • Segmentico may adopt an interest rate model whereby the rate of interest for same product and tenor availed during same period by customers would be different from customer to customer depending upon consideration of any or combination of a few or all factors listed out in point (b) above. Hence, the interest rate applied would be different from customer to customer and his/ her loans.
  • Interest rates shall be intimated to the customers at the time of sanction/ availing of the loan and the equated installments apportionment towards interest and principal dues shall be made available to the customer.
  • Interest changes would be prospective in effect and intimation of change of interest, if any, or other charges would be communicated to customers.
  • In case deemed fit, Segmentico may consider necessary moratorium for interest payment and repayment of principal with proper built in pricing.
  • In case of staggered disbursements, the rate of interest would be subjected to review and the same may vary according to the prevailing rate at the time of disbursement or as may be decided by Segmentico.
  • The interest rate, benchmark prime lending rate and other charges applicable from time would be hosted on website and updated from time to time.

    • Penal Charges/Late Payment Charges

  • Besides normal interest, Segmentico may collect penal interest / late payment charges for any delay or default in making payments of any dues. These penal interest / late payment charges for different products or facilities would be decided by Segmentico from time to time.
  • No claims for refund or waiver of such charges/ penal interest / additional interest would normally be entertained by Segmentico and it is the sole discretion of Segmentico to deal with such requests if any.

    • Management/Processing Fees

  • All processing/documentation and other charges recovered are expressly stated in the Loan documents. They vary based on the loan product, exposure limit, customer segment, geographical location and generally represent the cost incurred in rendering the services to the customers. The practices followed by other competitors in the market would also be taken into consideration while deciding the charges.

    • Others

  • The interest rate models, benchmark prime lending rate (BPLR) and other charges applicable shall be reviewed by the board periodically.

Loan Appraisal and Terms and Conditions:

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  • The Company will convey in writing to the borrower in English language by means of Offer letter or otherwise, the amount of loan sanctioned along with the terms and conditions including annualized rate of interest and method of application thereof and keep the acceptance of these terms and conditions by the borrower on its record.
  • The Company will mention the penal interest charged for late repayment in bold in the loan agreement.
  • The Company will furnish a copy of the loan agreement along with a copy each of all enclosures quoted in the loan agreement to all the borrowers at the time of sanction / disbursement of loans

How is the deposit amount to be remitted?

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Whether Nomination facility is possible?

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Whether FNC has collection centers or branches?

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What is the rate of interest payable on Deposits now?

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OUR TRUSTED PARTNER

Our endeavor is to be a school’s most valuable and long-term partner as it grows and improves to reach its full potential. We accomplish this by being agile, responsive and supportive while ensuring minimal disruption in the school’s daily routine.


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