Can I take a loan from bank using gold as collateral?
I got a 22karat gold chain worth 3million naira. I need a 1million naira loan.
LOAN SHARKS PLEASE AVOID THIS THREAD MAY THUNDER NO FIRE UNA ENTIRE GENERATION

The last line got me laughing..

Back to the topic, I don’t think Nigerian banks gives such loan. But if you have a current account and you run it well, you might be eligible for an overdraft loan ( just for 30days tho ).

actually yes you can get a loan using gold as collateral, but the banks would only take gold bars and not chains.....sorry.

Sankabson:
The last line got me laughing..

Back to the topic, I don’t think Nigerian banks gives such loan. But if you have a current account and you run it well, you might be eligible for an overdraft loan ( just for 30days tho ).

thanks for this advice. What bank will u suggest I use for current account. Gtb is trash. I have transacted atleast 100m there in a few months and they won't even respond when I ask for loans. Suggest a loan friendly bank please. Thanks

If it's an LPO finance, you can get in touch via my signature. I know an organization that can look into it considering the turnover you said you have.

SavageResponse:


When you people come here to make claims you should be aware that not everyone here is ignorant.

If truly you have a cummulative turnover on your business account of N100 million for at least 6 months for an ongoing business a bank would be willing to grant you a small loan.

There is something lacking which is the reason why the bank turned down your request for a loan.

The bank is not a charity organisation therefore before it gives out a loan it must be convinced that the borrower will pay it back!

guy swerve. I don't have time for dumb lame arguments

SavageResponse:


Of course you will not have time because you know you can't prove your audio N100 million turnover!

why will I prove it to a broke ass troll like u.

Like that