Aella App, a leading single-point financial service and payment solutions provider in Nigeria, has introduced a new daily interest initiative that will see its customers getting paid for simply going about their day-to-day transactions on the App.
The new product is accessible only through the Aella App and, provides daily interest for money kept in the Aella Wallet. Aella Wallet is an e-wallet that allows customers to store value using the Aella App to perform all financial transactions while earning discounts and rewards.
Customers get rewarded with daily interest payments, with the option of cashing out at the end of the month. The buildup of interest earnings makes Aella Wallet the first of its kind in the market.
Wale Akanbi, CTO Aella App, said funds domiciled in the Aella Wallet gain interest daily and empowers customers by allowing free access to their funds anytime. “We strongly believe that our customers deserve to take credit for their hard work. This is why we focus on creating revolutionary products that put the power back in the hands of our customers, constantly rewarding them for just going about their daily lives. With the Aella Wallet, there is no need to lock funds. Our customers can access their money at any time and still cash out the interest at the end of the month.”
Aella App has also simplified loan and bills payment with quick and easy access to loans of up to N1 million, with the App working on both android and IOS platforms to deliver financial services in 5 minutes. Aella has been positioned to further demystify impediments to payments and quick loan services in Nigeria and Africa. Akanbi said, “Aella is built to simplify instant credit and payment solutions for emerging markets by offering; instant loans, bill payments, micro-health insurance, and investment services.”
“Our loans range from N1, 500 to N1, 000,000 with a tenor of 91 days to 180 days, and our interest rate ranges from 2% to 20% for these tenors. Aella offers up to a 30% interest cut on early repayment with no agency or convenience fees for any bill payments.
Aella just secured a ‘Triple B’ investment-grade rating in the Nigerian bond markets as well as securing additional funding and has grown by 624 percent in revenue in the last three (3) years. With its 2024 Initial Public Offering (IPO) target date, Aella focuses on a disciplined debt strategy to aid organic business growth. The app can be downloaded on the App Store (IOS) or Google Play Store (Android).
