This document outlines the terms and conditions governing the loan agreement between you (“the Borrower”) and PANGHAT FINANCE COMPANY PRIVATE LIMITED (“the Lender,” “we,” “our,” or “us”) through the Drive Lend mobile application.
By submitting a loan application and accepting the approved offer within the app, you agree to be bound by the following terms.
Lender:
PANGHAT FINANCE COMPANY PRIVATE LIMITED
CIN: U67190BR1994PTC006212
Registered Address: 1st Floor, Hasnu Market, Near Canara Bank, GT Road, Sasaram, Distt.-Rohtas – 821115, Bihar, India
Email: support@panghatfinance.com
Borrower:
The individual who registers, applies for, and accepts a loan through the Drive Lend mobile application.
Loan Amount Range: GHC 300 – GHC 5,000
Repayment Period: 91 – 360 days
Annual Percentage Rate (APR): up to 20%
Processing Fee: 1% of the approved loan amount
Other Charges: None
All applicable fees and rates are disclosed transparently before loan confirmation.
There are no hidden charges or additional deductions.
If you borrow GHC 1,000 for 180 days (approximately 6 months):
Processing Fee (1%) = GHC 10
Interest (20% APR for 180 days) = GHC 98.63 (approx.)
Total Repayment = GHC 1,108.63
Monthly Installment ≈ GHC 184.77
At the end of the repayment term, you will repay GHC 1,108.63 in total.
To qualify for a loan via Drive Lend, applicants must:
Be a Ghanaian citizen aged 20 – 60 years
Have a valid local mobile wallet
Provide accurate and verifiable identification details
Meet internal credit assessment and verification standards
Download the Drive Lend app from the official app store.
Register using your mobile number.
Complete the KYC process by submitting your details.
Select your desired loan amount and repayment term.
Review and accept the loan offer upon approval.
Funds are disbursed directly to your registered mobile wallet.
Approval notifications will be sent through the app or by SMS/email.
Disbursement occurs only after you accept the final loan terms.
Repayment must be completed on or before the due date stated in your repayment schedule.
Early repayment is allowed at any time. Interest will be recalculated based on actual usage days.
Payments are made through your local mobile wallet as per instructions provided in the app.
Failure to repay on time may lead to:
Additional default interest as permitted by local regulations
Reporting to licensed credit bureaus in Ghana
Collection actions under applicable laws
If you foresee difficulty in repayment, contact our support team early to discuss potential solutions or rescheduling options.
We charge only the following:
Processing Fee: 1%
Interest: Up to 20% per annum
No application fees, hidden charges, or prepayment penalties apply.
Your information will be used solely for legitimate business purposes, including:
Identity verification and credit assessment
Loan processing and servicing
Repayment management and notifications
Compliance with applicable financial laws
Fraud detection and security monitoring
We maintain strict data protection standards and never sell your information to third parties.
All data is encrypted and stored securely in accordance with privacy regulations.
By accepting the loan, you confirm that:
All information you provided is accurate and complete
You understand the total repayment obligation before confirmation
Loan funds will not be used for illegal or restricted purposes
You will repay the loan according to the agreed schedule
Non-compliance with these terms may result in legal or regulatory actions under Ghanaian law.
The Lender may update this agreement as required by law or operational needs.
Any amendment will be notified within the Drive Lend app before it takes effect.
Continuing to use the service after notification implies acceptance of the revised terms.
This agreement shall be governed by and interpreted in accordance with the laws of Ghana.
Any dispute arising under this agreement shall be subject to the jurisdiction of the competent courts in Ghana.
For any questions, support, or clarifications regarding your loan agreement, please contact:
PANGHAT FINANCE COMPANY PRIVATE LIMITED
1st Floor, Hasnu Market, Near Canara Bank, GT Road, Sasaram, Distt.-Rohtas – 821115, Bihar, India
support@panghatfinance.com
Customer support will respond within the standard timeframes required under applicable law.