I am an entrpreneur and seeking advice on the most reliable banks in Nigeria that offer good facilities for customers.I have been to two of d banks- First bank and UBA to ask for loan bt a bit relunctant to take up d loan wiv their 22% interest rate.I would appreciate any experience business man for advice on d best bank to approach for loan. thanks and God bless!

Nigeria bank are not good in time of loan.

try Fidelity, their rate is a bit better, Stanbic is very high

@Poster,
Did they ask of your collateral?
What is the nature of your business, I can refer you to some organisation who might be interested in encouraging you in what you do.

I need it for my poultry farm's expansion.I am currently banking with UBA and GT but their interest rates are 22% and 24% respectively.I am just looking for a better offer elswhere if there is any. Thanks

Go to BOA ie Bank of agriculture

Talk to ur account officer in GTBank about rate reduction, i believe you can get a 20% interest in GTBank.

All these banks can't help they are even looking for where to borrow money. Just try these Micro-finance banks shaa gudluk

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http://www.cbn.gov.ng

Scroll down to publications and click on the "Deposit and Lending Rate for the Banking Industry as at December 9, 2011. (12/9/2011)" link to see the current rate.

Also, contact GroFin- http://www.grofin.com/Homepage.aspx They may be of help and probably better than a commercial bank.

Good luck.

none

if u have any cash flow problem they will be gloating as they hit you up with the penalties

nigerian banks are one of the reasons why the economy stagnates and stutters

they would rather lend huge sums to senators with no collateral than to businessmen

Trust me, collection a bank loan isn't advisable. Even if Ʋ see 15%, after all their hidden charges, it can shoot up to 25 or 30. My advice is that if Ʋ can, borow from frends and family, or steadily grow the business. Cheers

triaophant:

try Fidelity, their rate is a bit better, Stanbic is very high

what is fidelity's and stanbic rates.
you say one is better with no figures to back your ascetion

Olatad,I'll recommend u go to stAndard chartered bank.d rate is 18%and other wonderful benefits accrued to it as its unsecured lending.if u r interested,u can reach me with these. Nos 08121970506.I'll put u thru

Olatad:

I need it for my poultry farm's expansion.I am currently banking with UBA and GT but their interest rates are 22% and 24% respectively.I am just looking for a better offer elswhere if there is any. Thanks

Forget bank loans. Be patient, prudent, hardworking and grow your business organically. Once you've bitten the loan bug you will never reach the efficiencies required to survive even the minutest economic shocks. If you are truly committed and your business is viable let it grow by itself. My two cents.

AB MICROFINANCE BANK
Try this bank heard they can give good loans with very low interest rates and zero account balance just that ur collateral must b air tyt,
AB microfinace bank, some where on mobil road apapa, or oba akran ikeja, heard its sum german bank or so,

I'd suggest you leave nigerian banks out of it. Better join a cooperative and access cheap loan or use the NACRDB. Getting loans from our banks is just like a TIME BOMBBBBB!

What are these rates? 20+ %

.

thanks u for ur advice and contributions,appreciate u all,God bless!

n

Bruv,

I have checked all banks when I was trying to get my car loan and settled for ETB, they seem to have the best rate.

@Poster
Going By your line of Business, which is Poultry farming, I recommend Global Limit Agric funding provided by Union Bank of Nigeria Plc.

Interest Rate is 18% with 40% Rebate at the end of the payment period/loan tenure.

This in essence means you wil pay just 11% for the Loan!!!

You are also given a Moratorium, which is a period the bank allows you to grow your farm to maturity before you start payments.

Just call me if interested. I assure you, there's no better deal elsewhere.


Union Bank, Oregun Branch, Lagos.
BIG, STRONG AND RELIABLE.

thank u,i would get in touch with the two banks- UNion bank and Standard trust bank here in Ibadan as u recommended and see what they could offer. thank u once again,God bless!