Banks Raise Lending Rates To 30 Per Cent - Business (2) - Nairaland
Nairaland Forum / Nairaland / General / Business / Banks Raise Lending Rates To 30 Per Cent (20776 Views)
Banks Raise ATM Cash Withdrawal Limit To ₦200,000 / CBN Crashes Treasury Bills Rates To Single Digits / Oil Price Stabilises As Brent Crude Gains At $65.30 Per Barrel (2) (3) (4)
(1) (2) (3) (4) (Reply) (Go Down)
| Re: Banks Raise Lending Rates To 30 Per Cent by masterP042(m): 9:04am On Aug 04, 2020 |
Everywhere is bad news men... In this covid, what business can one actually do, to pay back 30% interest comfortably. And these fvcking banks don't even add interest to their customers, irrespective of the big money they make from loans 1 Like |
| Re: Banks Raise Lending Rates To 30 Per Cent by Nbotee(m): 9:04am On Aug 04, 2020 |
Sysdatek: Abeg baba what investment options can U recommend.. If I tell U how much yields jus over 90k a month U go stone me |
| Re: Banks Raise Lending Rates To 30 Per Cent by integrity16(m): 9:07am On Aug 04, 2020 |
God help business owners in this country. |
| Re: Banks Raise Lending Rates To 30 Per Cent by yemionline(m): 9:07am On Aug 04, 2020 |
May God help us all. |
| Re: Banks Raise Lending Rates To 30 Per Cent by posty56: 9:17am On Aug 04, 2020 |
Sysdatek:I am planning on doing fixed deposit do you think it is a good idea |
| Re: Banks Raise Lending Rates To 30 Per Cent by byinks(f): 9:18am On Aug 04, 2020 |
Jaqenhghar: You said it all |
| Re: Banks Raise Lending Rates To 30 Per Cent by Royalfurnitures: 9:23am On Aug 04, 2020 |
This means more trouble for borrowers,how can the economy grow with this ? Your home is incomplete without good quality furniture thats why we are here for you |
| Re: Banks Raise Lending Rates To 30 Per Cent by Omooba77: 9:24am On Aug 04, 2020 |
IMASTEX: Lol..... You forgot to mention agbero and touts....... |
| Re: Banks Raise Lending Rates To 30 Per Cent by nedekid: 9:24am On Aug 04, 2020 |
These banks are mad, especially Fcmb. I did not run the account as usuall due to the covid 19 issue over the past months. Even if I had to make payments through that account I will transfer money into it. Just recently as i am about restarting my business, I logged into the account only to find out I had - 3600  how manage? Fcmb we all know does not give over draft and neither did I apply for one. They do not give loans despite all the crap on their website. Even when I asked for petty loan during covid 19, 50-100k they said I did not qualify despite the fact I have ran the account for many years with daily deposit and withdrawals.Now I left little balance in the account for months with little transaction that did not bellefull them they wiped out my balance and put my account in negative. Howww  ?If there service charge on no account balance?? Seems Nigerian banks now struggle with customers on the little change in their account. 1 Like |
| Re: Banks Raise Lending Rates To 30 Per Cent by Openbusiness4: 9:25am On Aug 04, 2020 |
Tina001:nobody likes it, na condition dey make engineer turn to banker |
| Re: Banks Raise Lending Rates To 30 Per Cent by nedekid: 9:28am On Aug 04, 2020 |
posty56: Better change your money to fx to be safe. The interest on FD does not cover the money you loose from inflation how much more profit. 1 Like |
| Re: Banks Raise Lending Rates To 30 Per Cent by Barryseal: 9:29am On Aug 04, 2020 |
Singapore lending rates stands at 5% interest for small businesses and IT companies. 30% interest rate is hell. 2 Likes |
| Re: Banks Raise Lending Rates To 30 Per Cent by apache4: 9:30am On Aug 04, 2020 |
I think that question should be directed to your darling daddy , mortgaging the life's of the common man is his goal . MANNABBQGRlLL: 1 Like |
| Re: Banks Raise Lending Rates To 30 Per Cent by Tina001(f): 9:30am On Aug 04, 2020 |
Openbusiness4: Yea I know but some still like am. live within your limit but some people will borrow to impress.. Na wetin dey happen, nor be say |
| Re: Banks Raise Lending Rates To 30 Per Cent by authority2006(m): 9:31am On Aug 04, 2020 |
Sysdatek: Investment |
| Re: Banks Raise Lending Rates To 30 Per Cent by cardoso514: 9:34am On Aug 04, 2020 |
First, it was death of Treasury Bills to discourage savings Now it is huge interest on loans All these are killing business and investments Which business can survive this harsh rate! |
| Re: Banks Raise Lending Rates To 30 Per Cent by JimmyfixDesigns: 9:34am On Aug 04, 2020 |
To all those saving money in the banks. You have millions there laying fallow and your fellow man is suffering. Just because you have more opportunities than them? The bank is using your money to make billions and they give you peanuts. These same useless banks are selling recharge cards that the poor should be doing. It's time we woke up from this stupidity. 1 Like |
| Re: Banks Raise Lending Rates To 30 Per Cent by authority2006(m): 9:37am On Aug 04, 2020 |
nedekid: This practice is limited to FCMB only. It happened to my account with them, the same thing with my daughter's account with them, negative account balances. This is the second time I would experience that. Even their transfer form is now 1000 naira! 2 Likes
|
| Re: Banks Raise Lending Rates To 30 Per Cent by yinchar(m): 9:43am On Aug 04, 2020 |
I initially didnt want to reply but this rubbish has been going on for too long. During this COVID 19 pandemic, ost countries all over the world has tremendously reduced this leading rate. In US its less than 2% South Africa that we are competing with has less that 7% reduced from 9% due to the pandemic. Which country is that, and which leaders do we have? The entire banking sector has been taken over by corrupt individual, cabals and capitalist. How can the banks be declaring Billions of dividends after tax and yet common people will borrow loan at over 30%. How do you stimulate the economy, its simply not possible. Yet, we have a President that is too dumb to take actions in critical areas of the economy. 3 Likes 1 Share |
| Re: Banks Raise Lending Rates To 30 Per Cent by Nobody: 9:44am On Aug 04, 2020 |
Nbotee: Agri tech like agro rite . Farm crowdy et al Also trading in the financial markets which I can teach free |
| Re: Banks Raise Lending Rates To 30 Per Cent by Temptee101(m): 9:45am On Aug 04, 2020 |
Where is the dullardic fake pastor who the cabals always send to scream ease of doing business to deceive their zombies like a she-goat on heat? Nigeria is doomed 2 Likes |
| Re: Banks Raise Lending Rates To 30 Per Cent by Nobody: 9:46am On Aug 04, 2020 |
posty56: waste of money and time Consider agro Learn to trade |
| Re: Banks Raise Lending Rates To 30 Per Cent by MondayOsunbor(m): 9:47am On Aug 04, 2020 |
for comparison check out the rate in other Africa country
|
| Re: Banks Raise Lending Rates To 30 Per Cent by EmagNig(m): 9:49am On Aug 04, 2020 |
No wonder my WEMA alat HAS REFUSED TO grant me the N10million loan I have been trying to request for the past 10 days. It looks like they know I plan doing my wedding with the money. |
| Re: Banks Raise Lending Rates To 30 Per Cent by MondayOsunbor(m): 9:50am On Aug 04, 2020 |
authority2006: i dey hail una who bankS with FCMB AND ACCESS BANK UNA GET TIME OOO |
| Re: Banks Raise Lending Rates To 30 Per Cent by echelonfashion(m): 9:50am On Aug 04, 2020 |
Why bother yourself about commercial bank interest rate, When you can asses Bank of industry loan for as loan as 10%. 08165509724 |
| Re: Banks Raise Lending Rates To 30 Per Cent by Nobody: 9:54am On Aug 04, 2020 |
These are the consequences of excessive borrowing by govt, when you re unable to payback your creditors you re at their mercy, you have to do whatever the creditor tell you to do including hurting your citizens. 1 Like |
| Re: Banks Raise Lending Rates To 30 Per Cent by Arizonaz: 9:57am On Aug 04, 2020 |
Liquidating your money is the surest way to go. |
| Re: Banks Raise Lending Rates To 30 Per Cent by BOOKWORMLUX(m): 10:04am On Aug 04, 2020 |
Check my sig |
| Re: Banks Raise Lending Rates To 30 Per Cent by jagaban002(m): 10:13am On Aug 04, 2020 |
Sysdatek:It’s easily said that done , 1m to yield 50k monthly in Nigeria banks that’s highly impossible even 10m self no reach 50k for this Nigeria |
| Re: Banks Raise Lending Rates To 30 Per Cent by Clothingonline9(m): 10:28am On Aug 04, 2020 |
*329*10*133119# this code and click enrollment to benefit fcmb bank call card and data do it to all ur sim |
Naira Weakens To 917 Per Dollar - Bloomberg / CBN Pumps $195Million To Boost Forex Market, As Naira Firms Up / Fish Farm Business Proposal
(Go Up)
| Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 36 |