Help Centre
Paying off your Agri Credit Line early
Save on markup when you repay before the end of the period
If you finish your business cycle earlier than expected, you can pay off your Agri Credit Line early. Avenews rewards you for this by giving back part of the markup that has not yet built up.
How the reward works
When you pay early, you save 50% of the markup that has not yet built up at the time of repayment. The markup that has already built up by the day you repay is still owed in full.
Worked example
Say you draw KES 100,000 on a 30 day Agri Credit Line term. Total markup at 30 days would be KES 8,920. If you repay on day 15:
Markup that has built up over 15 days is KES 4,460
Markup that has not yet built up for the remaining 15 days is KES 4,460
Your reward is 50% of the unbuilt markup, which is KES 2,230
You repay KES 100,000 plus KES 4,460 plus KES 2,230, which is KES 106,690
Paying an installment early
If you have a 60 or 90 day term and you want to pay off one installment early, the reward applies to that installment only. The other installments continue on their schedule.
How to pay early
Contact our team or use the portal to ask for an early settlement quote. We will tell you the exact amount to pay so you get your reward correctly.