Etisalat recently launched KwikCash, an initiative where you can get colateral-free loan via your phone and bank account by dialling *561#.

This loan came with a 15% interest rate which was due in 14 days. I needed to have this information checked out for this website so I applied for it.

They kept sending reminders at intervals and subtle threats of an increased interest rate if I failed to settle the loan at due date. I wasn’t intimated of any addition to the interest if I failed to meet the deadline before the loan. It only came after I’d applied for it.

True to form, the due date elapsed and Etisalat added a whopping 17.53% interest rate. They explained this outrageous figure as rollover interest + late fee+ VAT. Now I have the initial loan + the 15% interest rate + the added 17.53% rollover interest to pay back. This addition came with further threats of added increments if I failed to pay back in one week.

Needless to say, I won’t be using Etisalat KwikCash loan again

http://womeninconnect.com/review-of-etisalat-kwikcash-loan/

Hearing about such for the first time

aye le ibosi o

dominique:
Hearing about such for the first time

Wouldnt have believed it myself if it didn't happen to me.

Godmother:

Wouldnt have believed it myself if it didn't happen to me.

So did you pay after the one week?

Godmother:


Wouldnt have believed it myself if it didn't happen to me.

What if you don't pay back on time?