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Please Help with the Explanation Of Loan Amortization by agabaI23(m): 11:35am On Aug 11, 2015 |
Can any banker explain loan amortization to me? A bank offers you a facility at 21% interest. You check what you will be repaying using loan amortization calculator, it gives 35% interest on the principal. Is their any alternative to loan amortization? Is it operational in Nigeria? What is loan amortization? lalasticlala, Ishilove, I need some professional insight. Google did not explain much |
Re: Please Help with the Explanation Of Loan Amortization by agabaI23(m): 12:32pm On Aug 11, 2015 |
Bankers in the house Can you through some light? |
Re: Please Help with the Explanation Of Loan Amortization by agabaI23(m): 8:33pm On Aug 11, 2015 |
adedayor08:Thanks I have got some other questions in my post. Can you attempt them? |
Re: Please Help with the Explanation Of Loan Amortization by agabaI23(m): 8:45pm On Aug 11, 2015 |
adedayor08:Thnaks 1. Is that the only method loan repayment in Nigeria? 2. Are there other options? 3. Why should a bank say 21% when in actual sense, it is 35%? |
Re: Please Help with the Explanation Of Loan Amortization by agabaI23(m): 10:30pm On Aug 11, 2015 |
adedayor08:So there is a mandatory 25% on the principal? You are making more sense. So that whatever the rate offered, it can't be less than 25% in simple interest terms (permit me to to use that). makes sense. I was demanding such explanation today from a marketer and she was trying to blackmail me with I am learned and I should not go into such argument bla bla. Not totatally OK but I can sleep with this. 1 Like |
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