What is a Promo Code?

This article is the ultimate survival guide to promo codes—what they are, how to use them, the rules to keep them in line, and what to do when a code decides to act up. Think of it as the “promo code instruction manual” no one knew was needed.
Written by Antony
Updated 1 month ago

What Are Promo Codes?

Promo codes are special offers provided to make loans more affordable. They reduce the interest payable, leading to lower repayment amounts. Codes may be automatically issued as part of promotional campaigns, seasonal offers, or birthday rewards.

Each promotional code is generated automatically by our system in accordance with specific criteria applicable to all eligible clients.

Once applied, the code instantly reduces the interest rate, allowing the loan to be repaid at a lower cost. Promo codes are shared through SMS, email, or in-app notifications. These offers act as rewards that make borrowing more convenient and cost-effective. To benefit fully, promo codes should be redeemed before their expiry date.

How to Use a Promo Code

During the loan application process, a field labeled Promo Code is available. The issued code should be entered exactly as received, without extra spaces or spelling errors. Once entered, the system validates whether the code is active and eligible. If valid, the interest is automatically recalculated, and the discounted rate is displayed in the loan summary before confirmation. 

By following this process, the promo code benefit is applied seamlessly, ensuring a clear view of the savings before finalizing the loan application.

Important Things to Know

Promo codes are governed by specific rules to maintain fairness and transparency.

  1. Each code has an expiry date and must be redeemed before it lapses. Most codes are valid for a single use only and cannot be reused.
  2. Codes are linked to the designated customer and are not transferable or shareable.
  3. Only one promo code can be applied per loan application, and in certain cases, eligibility may be limited to specific loan products or offers. 
Always review the terms provided with the promo code, including validity period and applicable products, to avoid missed opportunities.

If a Code Does Not Work

In some cases, a promo code may not apply successfully. The most common reasons are code expiration, incorrect entry, prior redemption, or ineligibility. The first step is to confirm that the code has been entered exactly as provided. Next, check the validity period and whether the code has already been used. If the issue persists, it may be related to loan product restrictions or customer eligibility. If all conditions appear correct and the promo code still fails, customer support should be contacted for assistance. Support agents can confirm eligibility, validate the code status, and provide guidance on the next steps. Even if the code cannot be applied, alternative promotions may be available to ensure continued access to rewards.

Remember; Promo Codes only work when applying for a loan, not when repaying one.
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