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Pryme Personal

Money with a heartbeat.

Meet Eva, the assistant inside the Pryme app. She opens accounts, moves money, saves toward your goals and follows up. Nothing leaves your account without your approval.

Meet Eva, the assistant inside the Pryme app. She holds dollars, pounds, euros and Naira side by side, swaps at a locked rate, pays bills in any of them and sends anywhere, asking before anything moves.

HomeEvery currency, every Box and every card on one screen.
Chat with EvaTell her the goal. She handles the steps and asks before anything moves.
Savings BoxesFlexible, Fixed, Investment and Interest-free, side by side.
Create a BoxPick the type, name the goal. Eva works out what to move, and when.
LoansSpaces credit and Salary Advance. Draw only what you need.
Invite friendsThree friends, ₦50,000 each, and ₦20,000 lands with you.
YouEva’s voice, your plan, your address and every security control.
Duress signalA word that looks normal on screen while your people are alerted.
Chat with EvaTell her the goal. She handles the steps and asks before anything moves.
Swap at the live rateOr name the rate you want and she swaps the moment it lands.
One card, every currencySpend from whichever balance suits, and freeze it from the app.
What Eva may do without askingStanding permissions, a voice, and a record of every rule you have given her.
Receipts anyone can verifyRegular or certified statements, e-signed and checkable by whoever receives them.
Open a personal account How we keep your money safe
Pryme app: Home
Pryme app: Chat with Eva
Pryme app: Savings Boxes
Pryme app: Create a Box
Pryme app: Loans
Pryme app: Invite friends
Pryme app: You
Pryme app: Duress signal
Pryme app: Chat with Eva
Pryme app: Swap at the live rate
Pryme app: Multicurrency card
Pryme app: What Eva may do without asking
Pryme app: Receipts and statements
MoneyAgentsApprovalAgentsEvery currencyYour approval

Open an account. Get money to spend.

Global money. Intelligent growth.

We give you a limit to spend at the shops and services you already use — and an account that works on your month while you get on with it. Dollars, pounds and euros sit beside your Naira, and an assistant handles the running of it, asking you first every single time.

One global account for your money and business. Move across currencies, automate everyday operations and put AI agents to work — with you in control of every important decision.

Open Personal or Business Account Already with us? Log in
Open a Business account Download the app for Personal Open an account from anywhere
Pryme app home: every currency on one balance
Personal · the app in your hand
Salary landed₦920,000 from John Doe Ltd · Naira account
Done
Move ₦100,000 to your Rent Box?Keeps ₦127.9m liquid · earns 18% p.a.
Approve
Paid Ikeja Electric₦18,400 · token sent by SMS
Done
Swap $200 → ₦310,000?Rate locked at ₦1,550 for 30 s
Approve
Held a ₦150,000 transferNew payee · unusual hour · needs you
Review
Received $2,400From a client · USD account
Done
Swap $200 → £—?Rate locked for 30 s
Approve
Paid the light bill at home₦18,400 · Ikeja Electric
Done
Keep $1,000 liquid, save the rest?$1,400 → Flexible Box
Approve
Held a £2,000 transferNew payee · needs you
Review
Eva is live
500,000+customers, personal and businessScan to get the app
Get the appScan with your phone camera
Regulated partnersEvery currency held with a licensed institution in its market
Solid AllianzeCBNNDIC
Scan to get the app
Get the appScan with your phone camera
Instant settlementOur own core ledger: swaps land at once, every receipt verifiableScan to get the app
Get the appScan with your phone camera
Agents with a mandatePowered by Pryme Intelligence. Nothing moves without youFlip
Pryme Intelligence
Eva, the assistant that runs a Pryme accountEvayour assistant
The Chief of Staff agent on a Pryme Business AccountDanielChief of Staff
The Finance agent on a Pryme Business AccountBenFinance
PrymeBruceCare
Inside a mandate you write. Every action logged.
Multi-currency30 currencies on one balanceFlip
Locked rates30 s
🇺🇸 1 USD—
🇬🇧 1 GBP—
🇪🇺 1 EUR—
The rate you see is the rate you get.
10 years2016 to today, one trunkScan to get the app
Get the appScan with your phone camera
Business Account

Open an account. Get customers.

Your competitor down the road sells the same thing you sell. The difference is who walks in. We put money in people’s hands that can only be spent in businesses like yours — and then we point them at you.

The Pryme Business home page: three currency balances on one account, the money actions, five agents working and a live stream of what they have done
Business · the page your team signs into
Spaces · Nigeria

We hand the customer the money. It can only be spent with you.

You are not borrowing. You are selling to somebody who already has the money — and that money can only be spent with a business like yours.

The business · Pryme Business
johndoe.mypryme.com · Spaces

Spaces Showing 30 days

Spaces is onshoppers near you can see your shop
Spaces brought you · 30 days ₦2,578,550.00 104 sales from 71 shoppers ▼ 4% on the period before
Where the money came from
91% shoppers who had been in before 9% first visit to your shop
21 of 71 came back more than once Average basket ₦24,793.75 Biggest shopper ₦142,300.00
24 Jul returningnew to you 22 Aug
Money on its way to you confirmed at the counter · on its way to your Naira account
Confirmed at the counter ₦47,150.002 sales today · final the moment they paid
Sales of 23 Aug₦90,9503 sales · confirmed
Sales of 24 Aug₦196,2005 sales · confirmed
Sales of 25 Aug₦47,1502 sales · confirmed
nothing for you to do · it arrives on its own
Lands in your NGN account ₦334,300.0010 sales in flight
The shopper · Pryme app
4:34
‹
BorrowLoans
SpacesSalary Advance
Spaces credit₦21,450 available
Repay ₦78,550
₦78,550 in use₦100,000 limit
Hold 25% · repay 2 more early to drop to 20%

₦100,000 from day one · agreement v2.1 · 12 Aug · View

Near youCategories 9Your loans 9
🛒Grocery / Retail4 places
🍽Eateries / Restaurants4 places
💊Pharmacies3 places
🎬Movies & Cinema3 places
🚌Transport3 places
💇Spa’s & Saloons3 places
Say “Hey Pryme”🎤
HomeBoxes CardsYou
Freeto join, nothing monthly. You are in the app the day you switch it on.
You get paidthe sale settles into your Naira account. Nobody to chase.
Zero riskwe carry the credit, whether or not the shopper repays us.
You growfaces that had never been to your shop — and most come back on their own.
The account

One account. Every currency you trade in.

Pryme Business4 currencies · one ledger
Base
₦127,328,879.23NGN · Nigerian Naira
$1,240.00USD · US Dollar
£480.00GBP · Pound Sterling
€310.00EUR · Euro
  • A named Naira account with Solid Allianze MFB — NDIC insured, your business name on it.
  • Real details abroad. A US account number, a UK sort code, an IBAN for the euro area.
  • Every currency has its own statement — regular or certified, with a code anyone can verify.
Swapping · in the app
4:34
‹···
Current account · NGN ₦127,328,879.23
SwapBoth balances move at once, on one ledger
Fill it inAsk Eva
$1 = ₦1,650.00
FromNGN ▾
250,000Available ₦127,328,879.23
ToUSD ▾
151.52after swap $1,391.52
Rate$1 = ₦1,650.00
Fee—
You get$151.52
NowWhen it hits

Eva waits for your rate and asks before she moves anything.

Target rate
$1 =1,585.00₦
Set the watch
Pryme Pay

Take money on your site, or on a checkout of your own.

No card, no OTP, nothing for the buyer to type in. They transfer from the bank app they already use, and the money lands in the same account your agents are running — already matched to the order, already in your books.

Pay from your bank app

We give the buyer a one-time account number. They transfer to it from any bank app or by USSD — no card, no OTP, nothing to type in.

Get the account number
  • Card details are never asked for, so they cannot leak.
  • The account is used once, then it closes.
  • Held with a licensed bank, insured by the NDIC.
Transfer exactly this amount

To this account, from any bank app. We watch it, and the page updates itself.

Send exactly₦26,767.50Copy
BankSolid Allianze MFB
Account number0000 000 000Copy
Account namePRYME / JOHNDOE‑ORD1042
Watching the account — nobody has to confirm anything.
Payment received

₦26,767.50 from GTBank · John D., matched to order ORD‑1042.

OrderORD-1042
Settled intoJohn Doe Trading Ltd · Naira account 0000 000 000
Receiptsent to the buyer
Get your receiptRun it again
Your checkout, your brand.On the site you already have, in your colours, on your own domain — or on a page we host for you.
A link for anything you sell.One price, one buyer, one link — sent on WhatsApp, Instagram or email, and paid the same way.
It lands already reconciled.Matched to the order, receipt issued, and in your books before you have looked at it.
Business Account

A team you did not have to hire.

Five agents come with the account. Each one has a job description, a budget and a ceiling you set. They do the work and bring it to you — nothing leaves the account without your signature.

CS Chief of Staff Runs the week

Knows what is stuck, who is waiting and what you promised — and keeps all three moving.

Booked a meeting with John Doe Foods for Thursday 11:00.
FI Finance Watches the money

Keeps the books as you trade and tells you the moment something does not add up.

Flagged a duplicate — invoice DP‑11908 was already paid in July.
COCompliance Keeps you inside the rules

Holds every filing to its own clock and screens names and payments against your policy — and logs what it refuses.

Screened 412 payments overnight and refused two of them.
SA Sales Chases what is owed

Goes back to the buyers who went quiet, with the receipt already attached.

Recovered ₦410,000 across three overdue invoices.
SU Customer Support Answers your customers

Replies, follows up on what they asked for and hands you only the ones that need you.

Resolved 4 conversations — two deliveries, one refund.
Every agent prepares and proposes. You are the only one who can approve.
Build on Pryme

Our rails, under your product.

Issue a dedicated Naira account number to each of your own customers, collect into it and reconcile against it. The same rails the Business Account runs on, with the licence behind them.

Read the API
Pryme Business

One business account. Every currency you trade in.

Dollars, pounds and euros beside a Naira account, on one ledger and one set of books. Five agents come with it and run the account — nothing leaves without your signature.

The Pryme Business home page: Naira, dollar and pound balances on one account, the money actions, five agents working and a live stream of what they have done
Business · the page your team signs into

A team you did not have to hire

Five agents come with the account. Each has a job description, a budget and a ceiling you set. They do the work and bring it to you — they propose, you approve.

CSChief of Staff Runs the week

Knows what is stuck, who is waiting and what you promised, and keeps all three moving.

Booked the quarterly review with your auditor for Thursday.
FIFinance Watches the money

Keeps the books in every currency you hold and flags the moment something does not add up.

Flagged a duplicate — invoice DP‑11908 was already paid in July.
COCompliance Keeps you inside the rules

Holds every filing to its own clock and screens names and payments against your policy — and logs what it refuses.

Screened 412 payments overnight and refused two of them.
SASales Chases what is owed

Goes back to the buyers who went quiet, with the invoice and the receipt already attached.

Recovered $12,400 across three overdue invoices.
SUCustomer Support Answers your customers

Replies, follows up on what they asked for and hands you only the ones that need you.

Resolved 4 conversations — two deliveries, one refund.
Every agent prepares and proposes. You are the only one who can approve.
Open a business account

Ten years, one trunk

The business has changed shape four times and never changed what it was rooted in. Each version was built out of what the last one could not do.

2016E-commerce

An online grocery store, built out of a faulty tab. Selling the food was the easy part — taking the money for it, and moving it, turned out to be the business.

2018OjirehPrime Card

A prepaid card. The first time the company issued rather than resold, and the first time it carried the obligations that come with holding somebody else’s money.

2020Microfinance bank

PrymeSolid Allianze acquired — an existing bank with an existing licence. The perimeter stopped being someone else’s to draw.

2023Multicurrency

More than one currency on one balance, and the rebrand to Pryme. A Nigerian business could hold dollars without holding a second institution.

2026Agentic operations

Accounts that do the work rather than only hold value. Five agents on the account, inside a policy you write — which is where the new mark starts.

Questions

The things people ask us first.

What is Pryme?

Pryme is a financial technology company. It gives people and businesses in Nigeria one account that holds Naira alongside dollars, pounds and euros, and a set of agents that do the running of it — keeping the books, chasing what is owed, answering customers and paying bills. Nothing leaves an account without the owner’s approval.

Can I hold dollars, pounds and euros in a Pryme account?

Yes. A Pryme account holds Naira, US dollars, pounds sterling and euros side by side on one ledger, each with its own account details — a Nigerian account number, a US account number, a UK sort code and an IBAN for the euro area. You can swap between them at a rate you set, and every currency has its own statement.

What is Spaces?

Spaces is available in Nigeria. It gives a shopper money to spend that can only be spent with a participating business. The business is paid into its Naira account whether or not the shopper repays, because Pryme carries the credit. For the business it is free to join, there is nothing monthly, and the customer’s identity is never shown — only a reference and what it is worth.

What do the agents on a Pryme Business Account do?

Five agents come with the account. The Chief of Staff runs the week and keeps what is stuck moving. Finance watches the money and keeps the books as you trade. Compliance keeps the filings on time and screens what moves. Sales chases what you are owed. Customer Support answers your customers and follows up. Each has a job description, a budget and a ceiling you set, and each one proposes rather than acts — nothing leaves the account without your signature.

How does Pryme Pay work?

Pryme Pay takes payments on your own site or on a checkout page you control. The buyer is given a one-time account number and transfers to it from any bank app or by USSD — no card, no OTP, nothing to type in. The money lands in the same account your agents are running, already matched to the order and already in your books.

What are Savings Boxes?

Savings Boxes are separate pots inside a Pryme account, held in Naira. Flexible Boxes can be withdrawn at any time, Fixed Boxes hold to a date, Investment Boxes hold for longer, and Interest-free Boxes earn nothing by design. A business can use them to ring-fence payroll and the tax it withholds, so that money cannot be spent by accident.

Who holds my money, and is it protected?

Pryme is a financial technology company, not a bank. Accounts and deposits are provided by Solid Allianze Microfinance Bank Limited, which is licensed by the Central Bank of Nigeria and is a member of the Nigeria Deposit Insurance Corporation.

Can I build on Pryme?

Yes. Pryme Rails lets a platform issue a dedicated Naira account number to each of its own customers, collect into it and reconcile against it, over one API — the same rails the Pryme Business Account runs on.

What is Pryme?

Pryme is a financial technology company. It gives you one account that holds US dollars, pounds sterling and euros beside Naira, with an assistant that runs the account for you and asks before anything moves. Accounts are provided in Nigeria today, and further markets open as each licence lands.

Can I open a Pryme account from outside Nigeria?

Accounts are provided in Nigeria today, subject to verification and approval. Foreign-currency balances are held and converted inside that account, so you can hold, receive and swap dollars, pounds and euros wherever you are.

Which currencies can I hold with Pryme?

Naira, US dollars, pounds sterling and euros, side by side on one ledger. Each has its own details — a Nigerian account number, a US account number, a UK sort code and an IBAN for the euro area — and each has its own statement.

How do I send money to Nigeria with Pryme?

Swap at a rate you set rather than the rate of the day, then send to any Pryme username or to a Nigerian bank account. There is no fee to send to another Pryme account.

What does the assistant do?

Eva is the assistant inside the Pryme app. She opens accounts, moves money, saves toward your goals, pays what is due and follows up what is owed to you — and asks you before anything moves.

What is Pryme Rails?

Pryme Rails lets a platform issue a dedicated Naira account number to each of its own customers, collect into it and reconcile against it, over one API — the same rails the Pryme Business Account runs on.

The Ledger

Notes on money that does the work: what we are building, what the regulation actually says, and how we think about letting software act on money. Read the Ledger

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Home · The Ledger · Arithmetic
Loans

Flat rate vs reducing balance: a ₦200,000 loan compared

Example: the same 3% a month costs ₦72,000 flat but about ₦41,109 on a reducing balance. Full 12-month schedules for ₦200,000.

PE
Pryme editorialLoans arithmetic desk · 19 Oct 2026 · 4 min read
The short answer

At the same stated rate, a flat-rate loan costs far more than a reducing-balance loan. In our example, ₦200,000 over 12 months at 3% a month costs ₦72,000 in interest when charged flat, but about ₦41,109 when charged on the reducing balance. The flat loan's true rate, measured on what you actually owe each month, is about 5.1% a month.

The two methods in one sentence each

  • Flat rate: interest = original amount × monthly rate × number of months, charged in equal parts every month even though you are repaying the principal as you go.
  • Reducing balance: each month's interest = monthly rate × the balance still owed at the start of that month.

Both may be described to you as '3% a month'. The difference is what the 3% is applied to. Our guide to calculating loan interest covers both formulas in more detail.

The example

Example only. You borrow ₦200,000, repaid in 12 equal monthly instalments, at 3% a month. No fees are included, so that only the interest method differs.

Flat 3% a monthReducing balance 3% a month
Monthly instalment₦22,666.67₦20,092.42
Total repaid₦272,000.00₦241,109.01
Total interest₦72,000.00₦41,109.01
Extra cost of flat₦30,890.99

The flat loan costs about 75% more in interest. The monthly difference of ₦2,574.25 looks small; across 12 months it adds up to ₦30,890.99.

Full schedule: flat rate

Interest is ₦200,000 × 3% = ₦6,000 every month, regardless of the balance. Principal is ₦200,000 ÷ 12 = ₦16,666.67 each month.

MonthInstalmentInterestPrincipalBalance after
1₦22,666.67₦6,000.00₦16,666.67₦183,333.33
2₦22,666.67₦6,000.00₦16,666.67₦166,666.67
3₦22,666.67₦6,000.00₦16,666.67₦150,000.00
4₦22,666.67₦6,000.00₦16,666.67₦133,333.33
5₦22,666.67₦6,000.00₦16,666.67₦116,666.67
6₦22,666.67₦6,000.00₦16,666.67₦100,000.00
7₦22,666.67₦6,000.00₦16,666.67₦83,333.33
8₦22,666.67₦6,000.00₦16,666.67₦66,666.67
9₦22,666.67₦6,000.00₦16,666.67₦50,000.00
10₦22,666.67₦6,000.00₦16,666.67₦33,333.33
11₦22,666.67₦6,000.00₦16,666.67₦16,666.67
12₦22,666.67₦6,000.00₦16,666.67₦0.00

Notice that in month 12 you still pay ₦6,000 interest on a balance of only ₦16,666.67. Measured against the money you actually owe, that last month's interest is 36%.

Full schedule: reducing balance

Interest is 3% of the opening balance each month. The instalment comes from the EMI formula (or =PMT(3%,12,-200000) in a spreadsheet).

MonthInstalmentInterestPrincipalBalance after
1₦20,092.42₦6,000.00₦14,092.42₦185,907.58
2₦20,092.42₦5,577.23₦14,515.19₦171,392.39
3₦20,092.42₦5,141.77₦14,950.65₦156,441.75
4₦20,092.42₦4,693.25₦15,399.16₦141,042.58
5₦20,092.42₦4,231.28₦15,861.14₦125,181.44
6₦20,092.42₦3,755.44₦16,336.97₦108,844.47
7₦20,092.42₦3,265.33₦16,827.08₦92,017.39
8₦20,092.42₦2,760.52₦17,331.90₦74,685.49
9₦20,092.42₦2,240.56₦17,851.85₦56,833.64
10₦20,092.42₦1,705.01₦18,387.41₦38,446.23
11₦20,092.42₦1,153.39₦18,939.03₦19,507.20
12₦20,092.42₦585.22₦19,507.20₦0.00

Interest falls from ₦6,000 in month 1 to ₦585.22 in month 12 because the balance it is charged on keeps shrinking. Totals may differ by a kobo from rounding. Our amortisation schedule guide explains the columns.

The true rate of the flat loan

Ask: at what reducing-balance rate would 12 payments of ₦22,666.67 repay ₦200,000? A spreadsheet answers this with =RATE(12,-22666.67,200000). The answer is about 5.08% a month, roughly 61% a year nominal, or about 81% a year with monthly compounding. A '3% flat' quote is, in reducing-balance terms, a little over 5% a month. That is the comparison that matters if another lender quotes a reducing-balance rate.

What changes if you repay early or pay fees

The gap widens in two common situations. First, early settlement. On the reducing-balance loan, clearing the ₦108,844.47 balance after month 6 means the remaining ₦11,710.03 of interest is never charged. On the flat loan, unless the lender gives a rebate, the remaining six months of ₦6,000 interest are still owed in full; see whether early repayment reduces interest. Second, upfront fees. A management or processing fee deducted from the ₦200,000 raises the real cost of both loans, but the flat loan starts from a higher base. Always compare offers on the cash you receive and the total you repay, not on the stated rate.

How to tell which one you are being offered

  1. Look for the words 'flat' or 'reducing balance' in the offer letter or loan screen.
  2. Multiply the amount by the monthly rate. If every instalment's interest equals that number, the loan is flat.
  3. Ask for a repayment schedule. A reducing-balance schedule shows falling interest each month.
  4. Under the FCCPC's 2025 digital lending regulations, lenders must disclose interest rates, repayment terms and fees before the loan is completed (Regulation 17(a)); their application to the Commission also covers their loan balance calculation methods. Ask for the method if it is not shown.

Where Pryme fits

Loans on Spaces are lent by Solid Allianze Microfinance Bank Ltd and can only be spent with Spaces merchants. The agreement shows the amount, cost and repayment date in full before you accept, so you can compare it with any other offer using the method above. See Loans on Spaces and where to see every charge.

Questions people ask

Which is better, flat rate or reducing balance?

For the borrower, reducing balance is cheaper at the same stated rate, because interest is charged only on what you still owe. In our ₦200,000 example the flat loan cost ₦30,891 more.

How do I convert flat rate to reducing balance rate?

Use the instalment and the amount borrowed in a spreadsheet: =RATE(months, -instalment, amount). That returns the equivalent monthly reducing-balance rate.

Why do microfinance banks use flat rate?

Flat rates are simple to quote and calculate. The reason any particular lender uses it is for that lender to say; what matters to you is the effective cost, which you can work out.

Is 3% flat the same as 36% per annum?

Only on paper. Because you repay principal as you go, 3% a month flat over 12 months is equivalent to about 5.1% a month on the reducing balance.

Sources

  1. FCCPC: Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations 2025 · accessed Oct 2026
  2. Microsoft Support: RATE function · accessed Oct 2026
  3. Microsoft Support: PMT function · accessed Oct 2026

This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.

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