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Loan Companies Are Theifs - Business - Nairaland

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Loan Companies Are Theifs by Heyyyy: 6:59am On Nov 07, 2021
How do you give someone a loan at interest rate of 40% to pay back with 7 days?

Honestly do you expect anyone to pay back with such ridiculous conditions?

Nigeria financial institutions need to check mate these guys that take undue advantage of Nigerians.

FGN bond per year is not even up to 10%.

CBN what are you guys doing?
Re: Loan Companies Are Theifs by HarunaWest(m): 7:06am On Nov 07, 2021
Nope. They arent thieves, they are just doing business. They give you loan and your only security/collateral is your BVN no. Its a high risk move, so they charge a high interest rate. No one actually forces anyone to lend money from them so i don't comprehend the ruckus. There are commercial banks, microfinance banks that can also provide same services depending on your credit worthiness.

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Re: Loan Companies Are Theifs by DonBenny77(m): 7:35am On Nov 07, 2021
They are criminals
Re: Loan Companies Are Theifs by CryptoClub2018: 8:05am On Nov 07, 2021
They are armed robbers including the one that supports them up there
Re: Loan Companies Are Theifs by Theoutsider: 8:08am On Nov 07, 2021
DonBenny77:
They are criminals

The one with the pen is the idiot
Re: Loan Companies Are Theifs by Mztonya: 8:22am On Nov 07, 2021
Join Kuda and qualify for overdraft. Interest at only 0.3% daily
Re: Loan Companies Are Theifs by Heyyyy: 8:26am On Nov 07, 2021
HarunaWest:
Nope. They arent thieves, they are just doing business. They give you loan and your only security/collateral is your BVN no. Its a high risk move, so they charge a high interest rate. No one actually forces anyone to lend money from them so i don't comprehend the ruckus. There are commercial banks, microfinance banks that can also provide same services depending on your credit worthiness.

Ordinary no one wants to take a loan if not for some critical conditions and you taking advantage of people's condition to inflate things, you are a criminal

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