Device Financing
Flexible Device Financing from 4 – 12 months
Shop your favorite devices (phones, laptops, tablets) and spread payments across flexible installments.
How It Works / Quick Overview
Choose your device, complete a short Klump financing form, get approved instantly, and receive your device — while Klump handles the payment directly to your vendor.
Select Device
Choose your preferred device from our store and proceed to checkout.
Apply with Klump
Fill in a short Klump financing form to split your payments easily.
Get Instant Approval
Receive an instant approval decision with no hidden fees or stress.
Receive Device
Pick up your device right away while Klump pays your vendor upfront.
Bank Loan Comparison (Device Financing)
| Bank | Equity Requirement | Loan Tenure Limit | Loan Size Limit | Required Customer Information | Interest | Fees | Bank Account Requirement |
|---|---|---|---|---|---|---|---|
| Stanbic | Nil | 4 months | ₦20,000 – ₦5 million | Profiled salary account, Registered phone number | 2.5% on the reducing balance | Management fee: 1%, Insurance fee (varies by provider) | Salary account |
| Polaris | Nil | 12 months | Up to ₦1 million | Salary account, Registered phone number, Vulte app credentials | 2.25% monthly (simple interest) | Fee: 1.5% | Salary account |
| First Bank | Minimum 25% equity contribution | 6 months | ₦500,000 | Active First Bank account, Registered phone number, Device camera for face verification | 10% on the reducing balance | Insurance: 2.5% | Available to personal First Bank accounts |
| Fidelity | 25% of purchase amount | 12 months | Up to ₦2 million | Account number, Phone number, Online banking credentials | 4% | Nil | Salaried customers in Fidelity/other banks via partnering payroll vendors |
| Renmoney | 25% of purchase amount | 12 months | TBD | Active bank account, Valid ID card, BVN, Device camera for face verification | Determined by Renmoney (specific metrics) | Management fee: 1% | Determined by Renmoney (specific metrics) |
| Wema | Minimum 20% equity contribution | 12 months | Up to ₦1 million | Account number, Phone number | 3% | Management fee: 1%, Insurance: 0.75% (death, disability, loss of employment) | 3% |
Financing Terms
Tenor Options: 4 – 12 months (adjust based on your offerings)
Interest Rate: 2.25% per month (Interest & charges vary based on the selected creditor)
Management Fees: 1% to 1.5%
Eligibility & Speed
All applicable devices above a specified amount (e.g. ₦20,000)
Instant credit decision typically within 3 minutes using Klump’s engine
Disclaimers
Final approval subject to bank review
Klump does not store sensitive customer data
Contact Person
Klump
Klump Customer Support
Tel:
0908 845 3555
Email:
support@useklump.com
Gadget Eleven Store
Customer Support
Email:
support@gadgeteleven.ng