Advice - Investment - Nairaland
Nairaland Forum / Nairaland / General / Investment / Advice (256 Views)
| Advice by Bobage16(m): 7:59am On Oct 28, 2022 |
Pls I need professional advice. Is a 30percent interest rate good for a loan of 350k, to be spread in 6 months |
| Re: Advice by ibechris(m): 8:17am On Oct 28, 2022 |
It depends! That amounts to an interest of about #105,000 in one year but which translates to 60% interest in 6 months. But if u think u are going to make good gains after collecting it,go ahead,but if not leave it. In my own case,I collected 3.5 million to pay altogether 4.6million in five years. I could turn this money to 15million on the average in 5years. So,good luck to u and God bless u as u use this money to the glory of God and betterment of humanity. |
| Re: Advice by Prosperity4All: 12:53am On Oct 30, 2022 |
Bobage16: Since the spread is very short (6 months) I would negotiate 25% P.A. at least then pro- rate for 6mths 1 Like |
| Re: Advice by Kobicove(m): 2:07am On Oct 30, 2022 |
Bobage16: Considering the current rate of inflation and high rate of depreciation of the Naira I think it's a good deal 1 Like |
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