₦airaland Forum

I have been seeing people talked about Jaiz Bank loan with little to no interest how truth is it and how can someone access such loans?

I have been banking with them for two years now on current account. I haven't tried their loan yet

Don't be misled by the "no-interest" label.
These banks still make significant profits based on what you're using the money for. They typically don’t lend money to individuals, but rather to businesses or for business-related purposes.

You must sign an agreement with them detailing how profits will be shared.
For instance, if the bank contributes 20% to your investment and you project substantial returns, they might require up to 90% of the profits—depending on the terms you both agree on. In some cases, you keep paying as long as the business is ongoing.

Bottom line: they are making money.

all that no interest loan bulshit na scam!

thm dey collect better interest! they use other terms to cover the interest.

and they hardly give loan to individual.

grandsuccess:
all that no interest loan bulshit na scam!

thm dey collect better interest! they use other terms to cover the interest.

and they hardly give loan to individual.

Which way forward?

They don't charge u interest but they charge u from ur profits.

This largely depends on the level of their involvement in that business.