ALAJO
Alajo 3.0 Interest Calculator
Increasing-Balance Model ยท 9% p.a. ยท Tech Implementation Reference
Savings Amount
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Frequency
Withdrawal Cycle
Target Amount
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Target Date
Target Amount
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Daily Capacity
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Monthly Savings
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Number of Months
๐Ÿฆ FlexiSave (Kolo) โ€” Think of a traditional piggy bank:

You drop in any amount, any time โ€” no fixed schedule, no fixed amount. You set a lock period (minimum 6 months). At maturity, your interest is calculated per deposit based on how long that specific cash was with Alajo.

Example: You drop โ‚ฆ10,000 in Month 1 and โ‚ฆ10,000 in Month 5 of a 6-month plan. The Month 1 deposit was with us for 150 days, so it earns much more interest than the Month 5 deposit which was only with us for 30 days. Same amount, different interest โ€” because the money arrived at different times.

If you break the kolo before your lock period ends โ†’ 3.5% penalty. Agent gets paid instantly on every deposit (3.33% ร— 70%).
Lock Duration (minimum 6 months)
Your Deposits

Increasing-Balance Interest Formula

Annual rate: 9%

Daily rate (r): 9% รท 365 = 0.00024658


For each individual deposit:

Interest = deposit_amount ร— r ร— days_held_with_Alajo


For fixed daily deposit D over N days (shortcut):

Total Interest = D ร— r ร— N(Nโˆ’1) รท 2

(Day 1 deposit held for Nโˆ’1 days, Day 2 for Nโˆ’2, ... Day N for 0 days)


For irregular deposits (FlexiSave):

Total Interest = ฮฃ (each deposit ร— r ร— its days held)

Core Principle for the Tech Team:

Interest is earned on each individual cash deposit from the day it arrives until maturity โ€” NOT on the final total.

โ‚ฆ1,000 deposited 60 days before maturity:
1,000 ร— 0.00024658 ร— 60 = โ‚ฆ14.79 interest

โ‚ฆ1,000 deposited 10 days before maturity:
1,000 ร— 0.00024658 ร— 10 = โ‚ฆ2.47 interest

Same โ‚ฆ1,000 โ€” but the first one earned 6ร— more interest because it was with us for 6ร— longer. Every naira earns from the day it arrives, not before.

Business Rules Summary

Rule Condition Rate / Logic
Interest โ‰ฅ 180 days 9% p.a. โ€” per deposit, per day held
Service Charge < 180 days 3.33% of total saved
Early W/D Fee Before maturity 3.5% of withdrawal amount
Agent Split On service charge 70% agent / 30% Alajo
Agent (โ‰ฅ180d) Alajo pays from margin 70% of 3.33% equivalent
FlexiSave Agent Per deposit 3.33% ร— 70%, paid instantly on deposit day
EasiSave Agent Per monthly payment Paid on customer's payment date each month
Regular Ajo First-day cash 70% agent / 30% Alajo, accrued daily
Alajo Technologies Limited ยท RC: 1901282 ยท Interest on increasing balance โ€” each deposit earns from the day it arrives