Monibac

Monibac is a finance mobile app for individuals and small businesses in Nigeria that combines savings, payments, and collateral-free loans in one place.

Key capabilities include:

• Collateral-free loans tied to savings history: Users become eligible after 3 months of active saving and can request loans up to 50% of total savings (the platform also states loans can range from ₦20,000 to ₦500,000). Loan tenors include 90 days at 9% and 180 days at 15%, with in-app repayment from savings balance.
• Monilock locked savings with tiered interest: Users can lock funds for set periods and earn interest based on duration, including 2% (31 to 60 days), 3.5% (61 to 90 days), 5% (91 to 120 days), 6.5% (121 to 365 days), and 8% (1 year and above). Funds cannot be accessed before maturity, and the app supports .