Buyer's guide
Buy Now Pay Later Nigeria: A Complete Guide to Buying Electronics on Installment
Buying a fridge, TV or laptop outright can strain even a healthy monthly budget. Installment shopping — often marketed as “buy now pay later” (BNPL) — lets you take the item home today and spread the balance across a few short weeks. Here's how it works in Nigeria, what you'll need to qualify, and how to calculate the weekly repayment before you commit.
Why buy on installment?
- Keep your savings intact. Instead of draining an emergency fund, you spread the cost across 4, 8 or 12 weeks.
- Own the item from day one. Delivery happens after your 25% deposit, not at the end of the plan.
- Predictable, weekly payments. You know the exact amount and the exact date — no surprise balloon payments.
- Transparent interest. The plan interest (if any) is shown up front, so the total you'll pay is visible before you check out.
- Build a repayment history. Completing plans on time makes it easier to qualify for bigger items or a micro-loan later.
What documents do you need?
Before your first order is approved, we ask for a few basics so we can deliver to the right address and set up your repayment schedule. You'll fill these in once on your profile and they'll be reused for every future order.
- A valid government-issued ID (NIN slip, driver's licence, voter's card or international passport).
- Proof of address — a recent utility bill or bank statement showing your delivery address.
- Your bank account details for repayment.
- A next-of-kin contact.
- A signed copy of the repayment agreement (you can sign it right on the site).
You can complete all of this from your profile page after signing in.
How to calculate your weekly repayment
RTK uses a simple 25% deposit model. On the product page you pick the plan (4, 8 or 12 weeks) and the weekly figure is shown automatically — but the maths is straightforward if you want to sanity-check it yourself.
- Take the item price. Example: ₦200,000.
- Pay 25% on delivery. ₦200,000 × 25% = ₦50,000 deposit.
- Balance to spread: ₦200,000 − ₦50,000 = ₦150,000.
- Add any plan interest shown on the product page (0 for many items).
- Divide by the number of weeks you chose (4, 8 or 12).
Worked example — ₦200,000 fridge on 8 weeks
Deposit: ₦50,000 · Balance: ₦150,000 · Weekly payment: ₦150,000 ÷ 8 = ₦18,750 per week.
Prefer cash instead?
If you'd rather have the money in hand — for rent, tuition, business stock or an emergency — RTK also runs micro-loans from ₦20,000 to ₦200,000 with weekday repayments. The process is the same profile-first flow.
Frequently asked
Is buy now pay later the same as a loan?
Not quite. BNPL is tied to a specific item you're buying — the deposit and weekly schedule are set at checkout. A micro-loan gives you cash and a separate weekday repayment plan.
What if I want to pay off early?
You can. Settling the remaining balance early closes the plan and stops any further interest that would have accrued.
Do you deliver outside Ibadan?
Yes — we deliver approved orders across Ibadan and to major cities beyond it. Delivery timing is confirmed after your deposit is received.