Your Fair Cash loan is a contract with Neo Microfinance Institution S.C. This page explains, in plain language, how to repay it, how early repayment lowers your cost, and exactly what happens if you pay late. The amounts and dates for your loan are always the ones shown in the app when you accepted the offer.
01How to repay
Repayment is made from the Fair Cash app using the mobile money or bank channel linked to your account. The channels available to you are shown in the app.
- Open My loan and tap Repay.
- Choose the full outstanding amount or a partial amount.
- Confirm the payment with your PIN. Your balance updates within a few minutes and you receive an SMS receipt.
Keep enough balance in your linked wallet or account on your due date. Where you have authorised it in the app, Neo may collect the amount due automatically on that date.
02Repaying early
Interest on Fair Cash is calculated daily on the outstanding balance at the rate disclosed in your offer. There is no early-repayment penalty. If you repay before your due date you pay interest only for the days you actually held the money, so repaying early always costs less. The disbursement fee is charged once at disbursement and is not refunded.
03If a payment is late
A payment is late when the amount due has not been received by the end of the due date shown in the app.
- Reminders. We send SMS and in-app reminders before your due date and again after it is missed.
- Interest continues. Daily interest continues to accrue on the unpaid balance at your contracted rate.
- Late-payment charge. Any late-payment charge that applies to your loan was disclosed to you in the app before you accepted the offer and is capped in line with National Bank of Ethiopia requirements. We never add charges that were not disclosed.
- Access to new credit. You cannot take a new Fair Cash loan while a payment is overdue.
Paying the overdue amount at any time stops further late charges and restores your account.
04How we recover
Neo recovers overdue loans strictly within the framework set by the National Bank of Ethiopia and Ethiopian law. In practice this means:
- We contact you only through the mobile number and in-app channel you registered, during reasonable hours.
- We do not contact your family, employer, or phone contacts about your loan.
- We do not use threats, harassment, or public disclosure.
- Where a loan remains unpaid after reasonable efforts, Neo may pursue the remedies available to a licensed lender under Ethiopian law, after giving you written notice.
05If your circumstances change
If you know you will not be able to pay on time — loss of income, illness, a family emergency — contact us before the due date. We will look at your situation and, where appropriate, agree a realistic way forward with you. Speaking to us early is always better than missing a payment silently.
06Credit reporting
As a licensed microfinance institution, Neo reports loan performance to the credit reference system operated under the National Bank of Ethiopia. On-time repayment builds a positive record that helps you access larger loans at Neo and elsewhere. Missed payments are also reported and can affect your future access to credit.
07Questions and complaints
Our support team is available Monday to Friday, 9:00–18:00 East Africa Time. If you are not satisfied with how a repayment matter was handled, you can raise a formal complaint with Neo and, if it is not resolved, escalate it to the National Bank of Ethiopia.