Ymodulus:


It's a foreign bank with great prominence in the Arab countries.

They bank according to Islamic tenets - in emphasis, they don't add interest on loans and stuff alike. They do this because they believe interest on loan is wrong according to Islamic believes.

The bank also operates in the U.S.

It was introduced by Sanusi Lamido Sanusi , and he met serious opposition then by even the CAN President Oritsejaphor.

For me I love the bank. Recently I looked at some of their benefits, I noticed that they offer a Mortgage Loan of 8 Million for 30Years with initial deposit of 30%.

Can you beat that?

Next time I enter Abuja na to go open account straight with this bank. See this kaind mouth watering deal oooo.

pinkyruledworld:
wow thats great, i think it would be of great benefit to bank with them especialy on this FOREX issues, do u know if they give out master/visa card and probably ther exchange rate + where in Lag can i find any of their branches? Thanx

seems they have a branch in ikeja and VI

9free:


Next time I enter Abuja na to go open account straight with this bank. See this kaind mouth watering deal oooo.

Hahaha, you don turn oyibo wey dei mortgage their live ?

I love their car loan the more. Na to carry one fine KIA 2014/15 Model, come dei pay back over 4years.

Ymodulus:


Hahaha, you don turn oyibo wey dei mortgage their live ?

I love their car loan the more. Na to carry one fine KIA 2014/15 Model, come dei pay back over 4years.

Mortgage my life on top paltry 8Milla?
Guy, chech am nah

mavinc4u:

Which one is N20,000 again. This people are stingy but ymodulus, do you bank with them or you know someone that bank with them.

my sister, its stil better to pay 204.8 per usd on 20000, than payin 250, u go stil save, at all at all na him bad pass.

nbolaji:


seems they have a branch in ikeja and VI

okay thanks 4 d info

modath:

Make a nor both again,ymodulus don torchlight the matter, for better make Dem nor dey do at all than for for yeye 20k limit.. na wah.

u go stil kip change on that 20k

9free:


Mortgage my life on top paltry 8Milla?
Guy, chech am nah

Big Man. Well for 30Years its very easy to pay. that's

Mathematically

Remember you pay 30% at first deposit so thats

Initial Deposit of 30%
30% of 8Million = 2,400,000

Left over deposit for over 30 years
Now 8Million - 2.4Million = N5.6Million

5,600,000 / 360 months ( 30yrs ) = 15,555.555 per Month

Approximately N15,560 a month. Not even taking into cognizance inflation and other macroeconomic variables that might set in. This is a good deal i agree.

This means you are to

Ymodulus:


Big Man. Well for 30Years its very easy to pay. that's

Mathematically

Remember you pay 30% at first deposit so thats

Initial Deposit of 30%
30% of 8Million = 2,400,000

Left over deposit for over 30 years
Now 8Million - 2.4Million = N5.6Million

5,600,000 / 360 months ( 30yrs ) = 15,555.555 per Month

Approximately N15,560 a month. Not even taking into cognizance inflation and other macroeconomic variables that might set in. This is a good deal i agree.

This means you are to

the offer is really good, but i must say 30years is pretty much, i cant see myself paying any loan more than 18months.

It makes me feel i am in bondage, if they are around me, i go dey collect OD well from them because GTB and other comm. banks dey cut neck...interest rate na die,

Konnektions146:

the offer is really good, but i must say 30years is pretty much, i cant see myself paying any loan more than 18months.

It makes me feel i am in bondage, if they are around me, i go dey collect OD well from them because GTB and other comm. banks dey cut neck...interest rate na die,

Lol!! True.

I think banks allow you to pay more, if you have. I ain't sure though. But i think all banks allow this.

omoteamac:
my homeboy works at the head office

Can I have your phone number or email address.

Ymodulus:


Big Man. Well for 30Years its very easy to pay. that's

Mathematically

Remember you pay 30% at first deposit so thats

Initial Deposit of 30%
30% of 8Million = 2,400,000

Left over deposit for over 30 years
Now 8Million - 2.4Million = N5.6Million

5,600,000 / 360 months ( 30yrs ) = 15,555.555 per Month

Approximately N15,560 a month. Not even taking into cognizance inflation and other macroeconomic variables that might set in. This is a good deal i agree.

This means you are to

What do they stand to GAIN - is it philanthropic loan, in sealing contractual agreement, full disclosure is important.
Also, for easterners, can one do online account opening and have the documents/cards signed and delivered by post/courier both ways?

optimised:

What do they stand to GAIN - is it philanthropic loan, in sealing contractual agreement, full disclosure is important.
Also, for easterners, can one do online account opening and have the documents/cards signed and delivered by post/courier both ways?

I really don't know , they claim its religious direction they follow. I don't just understand.

I just know Religion is a powerful force

Hmmmmmmm

toluxa1:
Hmmmmmmm

The dollar today black market Lagos this afternoon is N268-270.

So don't blame them.

Ymodulus:


The dollar today black market Lagos this afternoon is N268-270.

So don't blame them.

I keep wondering where we are headed for...

toluxa1:

I keep wondering where we are headed for...

It'll drop like a pack of cards, once the Govt. does what it needs to do.. similar thing happened in August-September where it hit 245, but dropped to 221 in days.... but this time, seems they are trying a new strategy... whereas, they want the BDC to be more accountable for whatever they give to them...cancelling their licenses etc.. basically, this is a master stroke, suffering short term and working long term resolution...the hand of Baba is definitely in this.. the man loves long term resolution

The current hype is very artificial, and can drop even tomorrow once bdc and cbn come to better understanding. since this hike started because they cancelled 1600 bdc licenses.

Youngzedd:


Can I have your phone number or email address.

070

omoteamac:
Number

Thanks, I will call you tomorrow.


You can now remove the number.

Ymodulus:


It's a foreign bank with great prominence in the Arab countries.

They bank according to Islamic tenets - in emphasis, they don't add interest on loans and stuff alike. They do this because they believe interest on loan is wrong according to Islamic believes.

The bank also operates in the U.S.

It was introduced by Sanusi Lamido Sanusi , and he met serious opposition then by even the CAN President Oritsejaphor.

For me I love the bank. Recently I looked at some of their benefits, I noticed that they offer a Mortgage Loan of 8 Million for 30Years with initial deposit of 30%.

Can you beat that?

Been thinking about them for some weeks now. You have an idea of the mortgage interest rates?

Ymodulus:


Big Man. Well for 30Years its very easy to pay. that's

Mathematically

Remember you pay 30% at first deposit so thats

Initial Deposit of 30%
30% of 8Million = 2,400,000

Left over deposit for over 30 years
Now 8Million - 2.4Million = N5.6Million

5,600,000 / 360 months ( 30yrs ) = 15,555.555 per Month

Approximately N15,560 a month. Not even taking into cognizance inflation and other macroeconomic variables that might set in. This is a good deal i agree.

This means you are to

This ur calculations sweet die, but am not too sure it will workout that way.

Na anyone fit open account abi one must b a Muslim, cos i don set docs ready for tomorrow

Ymodulus:


Lol!! True.

I think banks allow you to pay more, if you have. I ain't sure though. But i think all banks allow this.

Sure. The dangerous thing with some Nigerian banks is that they'll want to recommend a lawyer to you. How can you allow their lawyer be on your side for a mortgage? Very funny country.

Chartey:


Sure. The dangerous thing with some Nigerian banks is that they'll want to recommend a lawyer to you. How can you allow their lawyer be on your side for a mortgage? Very funny country.

author=Jdesigns post=41071494]
This ur calculations sweet die, but am not too sure it will workout that way.
Na anyone fit open account abi one must b a Muslim, cos i don set docs ready for tomorrow

It does. They write it on their banner 0% interest rate.

They even offer air condition , generator machine loan and likes. Visit their wuse 2 branch close to access bank head quarters wuse 2 you will see it.


O I forgot to add, their female staff are out of the world. And dress the Islamic way ( they cover themselves be Christian or Muslim ), so love it.

But on a serious note, I don't know how they make income if the 0% is what they believe in.

Ymodulus:






It does. They write it on their banner 0% interest rate.

They even offer air condition , generator machine loan and likes. Visit their wuse 2 branch close to access bank head quarters wuse 2 you will see it.


O I forgot to add, their female staff are out of the world. And dress the Islamic way ( they cover themselves be Christian or Muslim ), so love it.

But on a serious note, I don't know how they make income if the 0% is what they believe in.

It's funny in a way sha, I did a little Google search on Islamic banking and there is a markup that have been or would be embedded along the line.

Well, am not in abj na their ikeja office I wanna show face tomorrow Make i try dem

You don open already, aw many days for master card to ready?

Jdesigns:


This ur calculations sweet die, but am not too sure it will workout that way.

Na anyone fit open account abi one must b a Muslim, cos i don set docs ready for tomorrow

you don't need to be Muslim.

Found a few complaints on their Facebook page about not being reachable for complaints. Last post on their page was in October too...you guys should consider how easy or hard it nay be to reach them when or if issues arise.

Jdesigns:


It's funny in a way sha, I did a little Google search on Islamic banking and there is a markup that have been or would be embedded along the line.

Well, am not in abj na their ikeja office I wanna show face tomorrow Make i try dem

You don open already, aw many days for master card to ready?

Bro, abeg post their ikj office, me sef dey roll up once I enter lag.

balogunsam:
Found a few complaints on their Facebook page about not being reachable for complaints. Last post on their page was in October too...you guys should consider how easy or hard it nay be to reach them when or if issues arise.

bro abeg kindly paste their fbk link


Islamic banking sweet die but because of the islamic in it dem no allow them introduce am dat time... ignoramus

Jdesigns:


It's funny in a way sha, I did a little Google search on Islamic banking and there is a markup that have been or would be embedded along the line.

Well, am not in abj na their ikeja office I wanna show face tomorrow Make i try dem

You don open already, aw many days for master card to ready?

Naaa.

I only get interested in bank of they have favorable Forex policies

Ymodulus:


Naaa.

I only get interested in bank of they have favorable Forex policies

I mostly do below
Favorable forex policies
Favorable biz policies

But for now their forex suppose fit help sort out d small stuffs I need to sort out for my family and also the 8m if my hand go fit reach am while I still put eyes on d big fish out there with lower rate higher limit

Well just like I said last week .the dollar is now 270, the truth is it is not favorable for importation,the best thing to do now is to buy thing locally and resell

Ymodulus:


Big Man. Well for 30Years its very easy to pay. that's

Mathematically

Remember you pay 30% at first deposit so thats

Initial Deposit of 30%
30% of 8Million = 2,400,000

Left over deposit for over 30 years
Now 8Million - 2.4Million = N5.6Million

5,600,000 / 360 months ( 30yrs ) = 15,555.555 per Month

Approximately N15,560 a month. Not even taking into cognizance inflation and other macroeconomic variables that might set in. This is a good deal i agree.

This means you are to

Nothing like big man here ooooo...... Just saw an opportunity to leverage on an income generating asset on zero interest rate.
Cool

Jdesigns:


This ur calculations sweet die, but am not too sure it will workout that way.

Na anyone fit open account abi one must b a Muslim, cos i don set docs ready for tomorrow

Hahaha...... I don already fill individual account opening form online on their website. Na to visit any of their branches with original documents for sighting anytime I find myself in Abuja remain. Delay is dangerous.

9free:

Hahaha...... I don already fill individual account opening form online on their website. Na to visit any of their branches with original documents for sighting anytime I find myself in Abuja remain. Delay is dangerous.

Good morning bros.
How the thing dey work, explain Na small.
thanks

Ymodulus:

But on a serious note, I don't know how they make income if the 0% is what they believe in.

They are heavy investors. By the way, if you take a loan as a business, you don't pay interest but you share a certain percentage of your profit with the bank. It goes the other way round too, if you make a loss. So profit or loss is shared between you and bank. They help monitor and keep tab of your business most times though to ensure higher likelihood of your success since it affects them if your business fails. That's how they make profit majorly.