₦airaland Forum

Consider the total package. Interest and periods and penalty fees.

Would you say this loan is serviceable?


Application fee is 4%, not 4 Naira

Ushame:
Consider the total package. Interest and periods and penalty fees.

Would you say this loan is serviceable?


Application fee is 4%, not 4 Naira

Borrow N5 million and pay back a total of N5.35 million over 12 months, it is a good deal

Is this real or AI? Will the 4% be paid from your pocket before assessing the loan? This looks suspicious.

I don't think Nigeria bank can give you this type of loan with 7% interest rate.

mmude6411:
Is this real or AI? Will the 4% be paid from your pocket before assessing the loan? This looks suspicious.

I don't think Nigeria bank can give you this type of loan with 7% interest rate.

It real, i was referred by someone that took loan from there too.

Ushame:
It real, i was referred by someone that took loan from there too.

can you share more details about them

mmude6411:
can you share more details about them

They don't just give loan o

Dey will interview u Nd follow up on the business u intend to do.

The business has to be viable for you to be eligible


Nd funds are mostly released to contractors or suppliers that you work with. A fraction of the loan is released to you to run your business and for personal expenses.

Collateral included, terms and conditions are good and they approve loans very fast.

Can even release funds in 24 hours and assign a personal accountant to you to guide the business

Ushame:
They don't just give loan o

Dey will interview u Nd follow up on the business u intend to do.

The business has to be viable for you to be eligible


Nd funds are mostly released to contractors or suppliers that you work with. A fraction of the loan is released to you to run your business and for personal expenses.

Collateral included, terms and conditions are good and they approve loans very fast.

Can even release funds in 24 hours and assign a personal accountant to you to guide the business

The interest is actually 11% you pay 4% upfront and then pay the remaining 7% in instalments with the capital. So for example if borrowing N5m , you have to pay N200k upfront and a another N350000 within 12 months. Altogether N550k cost of capital.

Ushame:
Consider the total package. Interest and periods and penalty fees.

Would you say this loan is serviceable?


Application fee is 4%, not 4 Naira

Please link me up
How can I get into communication with you

MrNovo:
The interest is actually 11% you pay 4% upfront and then pay the remaining 7% in instalments with the capital. So for example if borrowing N5m , you have to pay N200k upfront and a another N350000 within 12 months. Altogether N550k cost of capital.

you're correct. But is it a good loan or a bad debt

Ushame:
you're correct. But is it a good loan or a bad debt

Compared to rates from other commercial banks I think it's a good loan. Especially if it doesn't compound when you miss an instalment. That's equally important to confirm.

MrNovo:
Compared to rates from other commercial banks I think it's a good loan. Especially if it doesn't compound when you miss an instalment. That's equally important to confirm.

It clmliddd a few years