SelfieCredit

What SelfieCredit is and who it suits

SelfieCredit is an online microlending service in Ukraine that disburses funds to a bank card via smartphone, with no office visit. Customer identification is done via a selfie - hence the service's name. This kind of loan is meant for short-term urgent needs (a few days to a few weeks), not for large or long-term purchases - a regular bank loan is better suited for that.

Cost of the loan

Per BankSorter data, the approximate full cost of this offer (annual rate) is 1,244.55% annually. SelfieCredit's site states a base rate of 1% per day (equivalent to 365% annually), though for first loans under the loyalty program the initial-period rate can drop to 0.01% per day. Depending on the amount, term, and loyalty-program compliance, the real annual cost on the lender's site ranges from 1,244.55% to 3,422.24%.

Maximum amount: up to 30,000 UAH for a first loan and up to 50,000 UAH for repeat customers.

Terms and requirements

• Total loan term: 345–365 days, with payment periods of 5 to 30 days, borrower's choice
• The agreement doesn't provide for a customer-initiated term extension, though the company may offer one on its own initiative with no worsening of terms
• Early repayment - no fees, anytime
• Borrower age: 18–65, Ukrainian citizenship
• Required: passport, tax ID, a bank card in the borrower's own name, mobile phone; remote verification (including selfie) - only on the first loan

Late payment penalties: on day 3, 15% of the loan amount (minimum 250 UAH, maximum 1,500 UAH); from day 4, 3% per day (minimum 50 UAH, maximum 300 UAH per day).

How to apply

1. Choose the loan amount and term
2. Register with selfie verification
3. Submit the application
4. Sign the agreement with an SMS code
5. Receive funds on the card immediately after confirmation

Summary

SelfieCredit stands out for allowing free early repayment at any time - a notable advantage if you plan to close the loan ahead of schedule. At the same time, the real annual cost (1,244.55% and up) remains typically high for this segment, so the service is best used only for short-term urgent needs, not as a substitute for a regular loan.