₦airaland Forum

Dickson25:
We need to drag this people on social media...

Idrismusty97:
Was recently Shortlisted with Baobab, but the stress to start pursuing it will make me abandon everything. I just filled the online form but can't go to their branch yet.

Beansman:
visit their branch with utility bill , national ID card and white background passport. I did last Friday and yesterday evening I received a text to come today for disbursements.
Have u receive your account number?
And please give us update with d process because their branch is far from my state. I will have to make proper planning financially before I can embark on d journey. Thanks

Idrismusty97:
Received this message too, it seems those who visit the branch were responded to faster and have already been called for disbursement. Ours will take longer but i don't really care as long as i receive it.

smartkester:
just Curious, I’m wondering why one needs to appear physically for disbursement after opening account with them physically. But why can’t they just credit your account without you having to come again to their branch or what do you think?

Riverrun:
Maybe the want you to sign one useless agreement as if you are collecting loan from them. The money is yours from federal government (Nyif) not theirs.

PastorFire:
The earlier the better.

kokolinxum:
Wow!!!! Is very offending to know that this NYIF loan is not forth coming
I have waited for it till I'm fade up..
Please guys you people should try and give us latest updated while I'm still waiting for my luck to shine
.
But meanwhile I have a legit platform that launch on 15th of this month and it's paying 20k every 2 days
.
Registration fee is 3,500 only
If you're interested message on WhatsApp 0...8...1...4...7...4...2..7...8..6....0
.
I will take you through

W3xy1:
I went to their branch last week and they are yet to call me for disbursement

funkyshade:
Baobab visit was productive. Loan approved but was a little disappointed with the amount allocated.

W3xy1:
I received two messages today. No call yet for disbursement

Idrismusty97:
How much was allocated and did you signed any agreement?

funkyshade:
Yes an agreement was signed & 250k was allocated

funkyshade:
Baobab visit was productive. Loan approved but was a little disappointed with the amount allocated.

funkyshade:
Yes an agreement was signed & 250k was allocated

funkyshade:
5% @ 60 months (5 years).

Idrismusty97:
5% of 250k is about 13k. Does this mean you are paying back 250+13k in 5 years time or how is it calculated? If it's as simple as that it's a bit fair especially for those with higher loan approved.

funkyshade:
Nope:
Approved loan: N250k
Interest Rate: 5% per annum
Repayment frequency: monthly principal & interest
Tenor: 60 months
Moratorium: 12 months on both principal & interest.

You gerrit now?

Idrismusty97:
Sorry still don't get it . Does the interest accumulate yearly at 5%? And then on expiration of the 60 months you pay back all with accumulated interests?

funkyshade:
It's basic maths sir,

Where: A = P(1 + rt)

P= 250,000
R= 5%
t= 5years


A = N312,500.00

Interest = A - P = N62,500.00

Equation:
A = P(1 + rt)

So the N312,500 will be spread across the 5years according to ur payment plan.

kokolinxum:
Wow!!!! Is very offending to know that this NYIF loan is not forth coming
I have waited for it till I'm fade up..
Please guys you people should try and give us latest updated while I'm still waiting for my luck to shine
.
But meanwhile I have a legit platform that launch on 15th of this month and it's paying 20k every 2 days
.
Registration fee is 3,500 only
If you're interested message on WhatsApp 0...8...1...4...7...4...2..7...8..6....0
.
I will take you through

funkyshade:
Nope:
Approved loan: N250k
Interest Rate: 5% per annum
Repayment frequency: monthly principal & interest
Tenor: 60 months
Moratorium: 12 months on both principal & interest.

You gerrit now?

dhope:
With this legit platform you don't need any loan bro. Just dey enjoy ur package alone as ure already a big boy smiling up-and-down

funkyshade:
It's basic maths sir,

Where: A = P(1 + rt)

P= 250,000
R= 5%
t= 5years


A = N312,500.00

Interest = A - P = N62,500.00

Equation:
A = P(1 + rt)

So the N312,500 will be spread across the 5years according to ur payment plan.

funkyshade:
In this case, I will be paying 5,300 approximately monthly (that's against 60months)

Hope you gerrit now?