Customers, get ready to get debit alert very soon...

omonla10:
Na gtb worse pass. My monthly turnover averages around 10m and they can't even shake body small. I even test them with 10k.. They know I can't do without them as they are the only bank in Nigeria that operates online payment of custom duty..

You can try specta by sterling. They offer up to 2m Naira business loan to even non sterling customers.

[quote author=TwoBottles post=82817773]Why is Ecobank not on the list??[/quote


Ecobank is steadily giving out loans.

omonla10:
www.nairaland.com/attachments/10334158_img20191002170933_jpegeaf5d028eec088adcb0eae856bad66cd

And the people of America understand that they are the employers of their public servants, so that they remain vigilant under constant scrutiny.

What are their requirements

ezewealth:

If u see requirements for the loan u go just tire. The list is endless

God punish GTBank & First bank. Imagine I have been banking with them for a long time now and money flowing through my account and yet they can't grant me Loan for my business.

agarawu23:
No wonder diamond/access bank keeps pushing loan offer to us

Their loan is cool. Interest rates very favorable.

Macdove02:
You can try specta by sterling. They offer up to 2m Naira business loan to even non sterling customers.

You are correct, Sterling Bank I don't have account with want to offer me loan of #2m through Specta for business while my useless Bank GTbank that I have done business over #20m in 6month say I'm only eligible for #127,500m. Laugh wan kill me

JubrinElSudan:
So will CBN now give out the loans to the persons from the fine? Sometimes CBN go just dey carry dey do, Wetin dem go use the fine do now?

The hypocrisy of CBN stinks, all to look good in the eye of the public.....

Yes. Thank God Firstbank is there. Useless bajk. Others been giving out loans this useless bank just kept mute all along. I hate them

businessnow:
That i do not agree with you,i also bank with GTB and my turn over for a month is half of your turnover and i was able to get 4m in less than 3mins without talking to my account officer and the interest rate is %1.75 even though i did not need it i just wanted to see if there new Quick Credit loan offer works and it does.

Talk to your account officer if you have a cooperate account.

I use personal account for my business dealing. Once I mentioned loan to my account officer, she said I should open salary account. She couldn't even allow me utter another word. She just face her computer.

leo1234:


Have you heard of GTB quick credit?
You should be eligible for loan of 5 million without collateral if you actually make turnover of 10 million monthly.

they said I should open salary account o.. I shock..

The ones they gave have not been paid.

You want to force them to give more.

Its the bank workers that will bear the blunt.

liohan:
When I tell bigoted people that religion in Nigeria is scam, they don't believe.

Shey you were all shouting Islamic Banking. Islamic Banking!

Imagine Jaiz an Islamic bank refusing to lend money when that's the sole reason it was started .

lend money to people who do all sorts? If what you are asking for UN-islamic, they don't support that.

AntiBrutus:


Isn't that what Nigerians have always wanted?

if u try bank loan once seriously u won't dare near it again in ur life.

geesilver:
but this loan is meant for salary earner only. because I couldn't get a loan with zenith despite banking with them.


or am I missing something here

That's why Zenith is among the banks that were fined ,the CBN has directed them to give loan to the real sector players like you to expand their businesses but they refused and instead give to salary earners only, this fine will teach them a lesson, kindly reapply for the loan you will likely get it this time

Nigerians are mostly not credit worthy. until the government do something about people who take loans from banks and not paying back,these banks won't have the confidence to give out loan. If we want our economy to grow.there should be a rule to protect bank from defaulters why do we have BVN let's just do something. alot of mfb have folded up if the banks are sure of the government backing just like in other countries we will get loans at very cheap rate and starts up will be able to access loan.konibaje baby ���

Naughtysite:


[s]Your comment didn't make any sense.

If anyone understood you, the person should explain.

At best, you described yourself, empty, without sense and hateful.

When making comments on a public forum next time, ensure that you are impacting others with knowledge[/s].

I should impart knowledge into a brain like yours that isn't fully fit for application right?

Go and read a book.

docadams:


Ecobank do give loans but at varying interest rates of 28% to 34%.

Jesus is Lord..haaa

oshiiteoku:
is it not better that access bank do not give payday loan,than giving Loan and continue to pilfer your money after payment without alert,organized thiefry

How does the payday loan work

9jaRealist:


Stingy? I hope you know that Banks' lend out OTHER PEOPLE's (primarily Depositors’) funds...
In Nigeria, where you cannot track credit histories and many people don't repay even money borrowed from friends.

Meanwhile, in many advanced economies...
Startups do NOT get their working/debt capital from banks, but from private equity funds and venture capitalists.
>

Yeah, but they lend out to Innoson and Dangote, tremendous amounts, even when an SME trader needs chunks.

GloShare:
Yeah, but they lend out to Innoson and Dangote, tremendous amounts, even when an SME trader needs chunks.

Because the banks believe these big companies are more likely to repay or they can seize their plants/assets upon default...
>

PlanBIncome:
I operated my GTBank account for years with millions on annual turn over. I decided to ask for loan this year, guess what? They said they can only give loan to current account holder who have operated the account for at least one year. Some times I ask why we are so wicked to ourselves as a people in this country. These are banks that charge ridiculous fees for useless reasons yet can not offer loan to the customers they steal from. Thank you CBN for stealing it from them in other way.

JUST GO STERLING BANK AND THANK ME LATER. ASK OF SPECTA LOAN , U DON'T HAVE TO HAVE AN ACCOUNT WITH THEM, AND IT DOESN'T MATTER IF U'RE SALARY EARNER OR SELF EMPLOYED . U GET UR LOAN IN LESS THAN 10 MINUTES, WITHOUT COLLATERAL. U CAN EVEN ACCESS IT ONLINE. IT'S THE EASIEST, THE BEST AND FASTEST. I THINK INTEREST RATE IS AROUND 2.5% PAYABLE OVER A PERIOD OF 12 MONTHS.

PlanBIncome:
I operated my GTBank account for years with millions on annual turn over. I decided to ask for loan this year, guess what? They said they can only give loan to current account holder who have operated the account for at least one year. Some times I ask why we are so wicked to ourselves as a people in this country. These are banks that charge ridiculous fees for useless reasons yet can not offer loan to the customers they steal from. Thank you CBN for stealing it from them in other way.

JUST GO STERLING BANK AND THANK ME LATER. ASK OF SPECTA LOAN , U DON'T NEED TO HAVE AN ACCOUNT WITH THEM, AND IT DOESN'T MATTER IF U'RE SALARY EARNER OR SELF EMPLOYED , AS LONG AS U
HAVE AN EXISTING ACCOUNT, THAT'S UP TO A YEAR IN ANY BANK . U GET UR LOAN IN LESS THAN 10 MINUTES, WITHOUT COLLATERAL. U CAN EVEN ACCESS IT ONLINE. IT'S THE EASIEST, THE BEST AND FASTEST. I THINK INTEREST RATE IS AROUND 2.5% PAYABLE OVER A PERIOD OF 12 MONTHS. U CAN CALL CUSTOMER CARE , FOR MORE INFORMATION.

ehissi:


It was banks they said that they fined not Ajo or daily contribution biko......

Chai, why you wicked like this?

omonla10:
Na gtb worse pass. My monthly turnover averages around 10m and they can't even shake body small. I even test them with 10k.. They know I can't do without them as they are the only bank in Nigeria that operates online payment of custom duty..

Please I like to talk to you privately on how to use GTB to pay duty. PM

I suspect it is the security requirements that is preventing banks from given loan,they do ask for landed properties with C of O..... The one taking risk to give do give at a ridiculous high interest rate or to salary account not to SME so the challenge her is the security.

First and foremost most the 500billion is not a fine. It is a CRR levy that the CBN takes from the total deposits of banks and keeps in a non interest bearing account.

Speaking to the crux of the matter, I think the CBN needs to play its role as the apex regulator in a manner that is unbiased.

You ask banks to loan money yet you refuse create an enabling environment for recovery and collections.

Most nigerians are not credit worthy both at personal and business levels. It is common practice for people to borrow money in bank A and then move straight to bank B and start running another account. Banks sponsored the BVN initiative with the intent that it can be used to monitor transactions of people who like diverting loans and ultimately use that to bring them to justice. But alas to get CBN approval for banks to share loan transaction details on an open platform online real time is like trying to squeeze water out of a rock.

Another school of thought is that banks are making some much money and there is no correlation between these profits and state of the economy. Another school of thought connotes that this might just be another way through which the CBN being banker to the FGN is using to raise free cash for the government at zero rates.

After all it is not like the half a trillion will be disbursed as loans so my question what will cbn do with it?


Let's watch what will happen to money market rates in the coming weeks.

docadams:


Ecobank do give loans but at varying interest rates of 28% to 34%.u

Which business will survive that kind of interest

Giving out loan is a very sensitive transaction and care need to be exercised - Nigerians are known to default when it comes to repayment even when they have the means to repay.

Even giving your friend money for him to repay back is a problem even when he has the capacity - He would just be posting you till you forget about the whole thing. I am living witness.

I worked in the system for more than 10 years and can confidently say that Nigerian businesses have the highest rate of loan default - most are willful default. Not that the borrower does not have money to repay, but will deliberately refused repayment. This has led to many account officers being fired by their respective banks.

I agree that money should be advanced to entrepreneurs, but note that some of these "wanna be entrepreneurs" do not have marketable business proposal with capacity to repay the loan. Finally, Nigerian business environment is so toxic - you don't know what would happen to your investment in the next minute. These makes most bank to hold on with giving out loan any how.

The case of Diamond bank is still fresh in our mind. Delinquent loan killed that bank.

chrisav:
hard times for the banks who are working hard on one hand to ensure such loans dont go bad and on the other to meet with CBN policy on loans. Most Nigerian "busyness" men are not credit worthy. You give a business man loan and the next thing he marries another wife.

U might be right if u are talking about a senseless business man.

Macdove02:
You can try specta by sterling. They offer up to 2m Naira business loan to even non sterling customers.

They won't pay the money to any existing account except its a current account or they will open a current account for you which you must go to a branch to complete before you can access the loan therein