If you’ve used the Alend Microfinance App for a while, you already know it’s one of the easiest apps to get a quick personal or business loan in minutes. But what most people don’t realize is that the app also allows you to extend your loan repayment date, calculate your interest in real time, and plan your repayment before you even apply.
In this article, we’ll go through how to increase your repayment time, use the loan calculator correctly, and avoid unnecessary late-payment charges that affect your credit score.
Why People Extend Loan Repayment Date
Sometimes life happens like salary delay, low business sales, or an emergency you didn’t plan for. Alend gives users the option to extend or reschedule their repayment date to avoid penalties or loan default.
The main benefits of extending your repayment date:
- Prevents late payment penalties and credit score reduction.
- Gives you more time to gather funds without stress.
- Keeps your loan history clean for higher loan limits in the future.
- Helps you avoid app suspension or blacklisting from lending platforms.
How to Extend Loan Repayment Date on Alend App (Step-by-Step)
- Open the Alend App
- Log in with your registered phone number or BVN.
- Go to “My Loans” Section
- You’ll see your active loan with details such as repayment amount, date, and interest.
- Tap on “Extend Repayment” or “Change Due Date.”
- The system will show you the available extension days (usually 7, 14, or 30 days depending on your record).
- View New Interest Rate or Extension Fee
- Alend shows how much extra interest you’ll pay for the extension. Always confirm before proceeding.
- Confirm Extension
- Enter your Alend PIN to authorize.
- You’ll receive an on-screen confirmation and SMS immediately.
- Repay Before New Date
- Make sure you repay before the new due date to avoid another extension charge.
How to Use the Alend Loan Interest Calculator
Alend’s in-app loan calculator helps you check how much interest you’ll pay before applying—this feature is one reason people trust the platform.
Here’s how to use it:
- Open the App → Tap “Loan Calculator”
- Enter the Amount You Want to Borrow (e.g., ₦100,000)
- Select Repayment Duration (e.g., 3 months or 6 months)
- The app automatically shows:
- Monthly repayment
- Total interest
- Total repayment amount
Example:
If you borrow ₦100,000 for 6 months at 2% monthly interest,
You’ll repay ₦112,000 in total (₦12,000 interest).
Tips to Lower Your Interest and Get More Time to Pay
- Always repay early—it reduces your total interest.
- Use a loan calculator before applying to pick what fits your income.
- Keep your credit score clean—no missed payments.
- Don’t take a new loan before clearing the old one.
- If you’re short on funds, request an extension early before the due date.
FAQs
1. Can I extend my loan repayment twice on Alend?
Yes, but only if your loan record is clean and you’ve never defaulted.
2. Does Alend charge for extending the repayment date?
Yes, a small interest or extension fee is added depending on your loan size.
3. Can I use the loan calculator without logging in?
Yes, it’s available on the homepage even if you’re not logged in.
4. Will extending my loan reduce my credit score?
No, it doesn’t affect your score as long as you extend before the due date.
5. What happens if I miss my new repayment date?
You’ll be charged late interest and risk account suspension until cleared.
Conclusion
The Alend app doesn’t just give loans fast, it also gives users control.
By using the loan calculator, you already know how much interest to expect, and with the repayment extension feature, you can manage your finances better when things get tight.
If you ever need to delay repayment, don’t wait until the last day, request an extension early, calculate your new interest, and stay consistent. That’s how to build a strong borrowing record and unlock higher loan limits next time you apply.
