Everything You Should Know About MTN Device Financing Pay Small Small Loan

This is a welcome development from MTN Nigeria,  and it allows the “not too well to do” citizens have access to smartphone of their choice under the umbrella of Device Financing.

MTN Nigeria has partnered with PayJoy and Sterling bank to launch device financing: Pay Small Small. With this, customers will be able to have access to loans to buy smartphones and pay back on installments, within a stipulated period.

MTN Device financing

This simply means that you don’t need huge amount to get your DREAM PHONE, you can simply pay small small per month for the device of your choice.

You can pay as low as N7500 per month for the device of your choice by simply walking into any MTN experience center nationwide through loans financing by Sterling bank.


Open an account with Sterling Bank for the bank to pay the loan into which can be done in any of the 14 MTN experience center.

Provide access to 3 months bank statements from your most active account in any bank

Who Can Partake?

MTN Device Financing is open to all customers including students and non-students

Note: Once your account is open, you’ll have access credit loan from N25000 – N400,000 to purchase any phone available, and pay back within the agreed time-frame, which ranges from two to six months, and has an interest rate of 18%, and an insurance premium of 4%.

MTN and PayJoy

The scheme is secured and powered by PayJoy, as a risk management tool to make sure the device is taken without payment, should the customer default on his payment.

After a 7-day grace period, the device would be locked; PayJoy is a firmware for locking and unlocking the device for the period given based on the duration of the loan.

If Customers do not pay after the grace period, Sterling bank can then activate its tokenization service to debit the account of the customer provided during registration.

You’ll also have access to Free 2GB data every month, access to a suite of MTN offerings such as MPulse, MTN music plus among others.

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