Pricing, terms, and your rights
Everything you need to know before you borrow from BOL Credit, in plain language. The borrower form you sign with your agent is your agreement, and it shows your exact figures.
Last updated: October 2026
Who we are
BOL Credit is a trading name of RaySwap Company Limited, a company registered and incorporated in Sierra Leone (registration number SL041224RAYSW23630). RaySwap Company Limited is licensed and supervised by the Bank of Sierra Leone as a credit-only microfinance institution.
Pricing and APR
These are our standard prices for new phones. All amounts are in new leones (Le).
| Phone | Term | Down payment | Weekly payment | Payments | Total payable | APR |
|---|---|---|---|---|---|---|
| Galaxy A06 | 39 weeks | Le 550 | Le 110 | 39 | Le 4,840 | 192% |
| 52 weeks | Le 550 | Le 100 | 52 | Le 5,750 | 197% | |
| Galaxy A07 | 39 weeks | Le 600 | Le 120 | 39 | Le 5,280 | 189% |
| 52 weeks | Le 600 | Le 110 | 52 | Le 6,320 | 197% | |
| Galaxy A16 | 39 weeks | Le 800 | Le 150 | 39 | Le 6,650 | 195% |
| 52 weeks | Le 800 | Le 130 | 52 | Le 7,560 | 186% | |
| Galaxy A17 | 39 weeks | Le 900 | Le 165 | 39 | Le 7,335 | 197% |
| 52 weeks | Le 900 | Le 140 | 52 | Le 8,180 | 182% |
What these figures mean
Total payable is your down payment plus all of your weekly payments. APR (annual percentage rate) shows the cost of credit as a yearly rate, so you can compare it with other credit. It assumes every weekly payment is made on time, starting one week after you receive your phone. The APR does not change what you pay: your weekly payment and total payable stay exactly as shown.
Other things that can affect your price
From your second loan, your price may be lower or higher depending on your BOL score tier. If your loan goes into recovery, you are responsible for BOL's reasonable costs of collecting what is owed and recovering the phone. BOL charges no other fees. Your mobile money provider, Afrimoney or Orange Money, may charge its usual transaction fee when you pay.
Prices as of October 2026 and may change. The figures on the borrower form you sign are the ones that apply to your loan.
Key loan terms
This is a summary of the borrower form. Your agent will go through the full form with you before you sign.
Your loan
You choose a 39 week or 52 week term and pay the same amount every week. You can pay in the BOL Credit app with Afrimoney or Orange Money using your payment code. Payments already made, including the down payment, are not refundable.
If you pay late
One day after a missed payment, your phone goes into a soft lock. You can still see what you owe and how to pay. After 7 days late, your phone fully locks and the loan goes into recovery. BOL may then recover the phone and the money owed. You can pay what you owe at any point to unlock your phone. Your phone must be connected to the internet so it can unlock when you pay. Recovery is not the same as default, which BOL declares separately. If BOL recovers and sells the phone, the money from the sale goes against what you owe. Anything above your balance and BOL's costs is returned to you. If it is less, you still owe the difference. Default affects your BOL score and your chance of getting credit from BOL and other lenders.
Looking after your phone
You are responsible for your phone from the day you receive it. BOL does not insure or replace phones, and your weekly payments continue even if the phone is lost, stolen, or damaged. If your phone is lost or stolen, report it to the Sierra Leone Police straight away and tell BOL within 48 hours, with a copy of the police report. Your phone has the manufacturer's warranty. Tell BOL about any repair or replacement so we can update our records.
Your account
BOL's records are the official record of your payments, balance, and loan status. We may contact you by SMS, phone call, WhatsApp, notification on your phone, or through your agent. Your app sign-in code is personal. Never share it with anyone except your own BOL agent.
Privacy
We collect the information we need to give you a loan and manage it: your name, address, phone number, date of birth, ID details, payment history, and information about your phone.
We use it to check your application, run your loan, help you make payments, and recover money owed. We share it only where needed: with our agents and staff, the Bank of Sierra Leone and any licensed credit reference bureau, our service providers, auditors, and advisers, and the police or courts where the law requires.
You can ask us for a copy of your information and ask us to correct it at any time. Please tell us if your phone number or address changes.
Complaints
We want to put things right quickly. If something has gone wrong:
Step 1
Speak to your agent
Their number is on your borrower form.
Step 2
Message BOL support
Use the support channel in the BOL app at any time.
Step 3
Bank of Sierra Leone
If your complaint is not resolved, you can take it to the regulator.
Using this website
The information on this website is general and may change. It is not an offer of credit. Every loan is subject to an agent's assessment and the borrower form. These terms are governed by the laws of Sierra Leone.