| Humongous Loan Apps Interest Rates by chaseblack(m): 7:48am On Nov 26, 2021 |
Although I agree that an agreement is an agreement but I think loan apps are taking advantage of Nigerians.
The interest rate these apps fix on loans are absurd and sometimes I don't blame people for default.
What is more annoying is that when you apply to invest in that same company ,they offer peanuts as interests.
For instance, one loan app has an overinflated interest rate of 30% for borrowers but if you are an investor, you will be offered a paltry rate of 1.5-3 %. That's criminal!
To make it clearer, if you borrow 20000 you'll be required to pay back #28,000 - #30,000, which means an interest of #8000-#10000 for just 30 days.
But personal findings reveal that if you try to invest #20,000 in that same loan app, you will get an interest of just #150 - #250 after a month.
This is absurd, I have tried investing #40000 in these loan apps several times and all I received was #150 after 40 days. Just imagine!
I tried another one by investing #60000 for 80 days and all I got was a paltry sum of #2300 .
And the last term time I checked the loan app, you will be required to pay #4500 on a loan of #15000 after just 30 days.
That is greediness and the government needs to look into this and find a way to regulate the interest of online loan lenders.
Failure to do these will continue to increase the no of loan defaulters as these loan interest are outrageous. |
| Re: Humongous Loan Apps Interest Rates by Wawelexy(m): 8:28am On Nov 26, 2021 |
Trying so hard to differentiate them with yahoo guys...
More so, they're devilish......
All those shouting business is business, agreement is agreement, they ve staffs to pay, nigerians are dubious and all that, thereby taking sides with this people just because you re comfortable and living fine, why not for once put urself in shoes of those that re less privilege....
And moreover, 60% of this loan suitors have the intentions of paying back but defaulted due to one or two challenges and will still pay back with interest even after humiliation by this loan companies.....
Imagine what the op said, 60k to get 2300 for good 80days but yet these parasites in disguise would disburse 30k to their victims(customers) and expect them to pay back 43500k in just 14days. SOKOLOAN PRECISELY....
Now which business will I invest 30k and make profit of 13500k in just two weeks, naso money easy to make?
Government should please stop these people from taking advantage of Nigerians, More so, protect our privacy from them.
I know someone would ask if am a victim, sorry no reply for u, and to those planning to quote me, I hope u re not going to tell me sh*t like, didn't u see the terms and conditions, they also run a business, why didn't u pay in time and bla bla bla? because na Ogun go...... U know the rest... |
| Re: Humongous Loan Apps Interest Rates by kingcolearchive: 6:10pm On Nov 29, 2021 |
As much as i would have loved to agree with you, I still think you are wrong, FairMoney interest rate is one of the best out there. chaseblack:
Although I agree that an agreement is an agreement but I think loan apps are taking advantage of Nigerians.
The interest rate these apps fix on loans are absurd and sometimes I don't blame people for default.
What is more annoying is that when you apply to invest in that same company ,they offer peanuts as interests.
For instance, one loan app has an overinflated interest rate of 30% for borrowers but if you are an investor, you will be offered a paltry rate of 1.5-3 %. That's criminal!
To make it clearer, if you borrow 20000 you'll be required to pay back #28,000 - #30,000, which means an interest of #8000-#10000 for just 30 days.
But personal findings reveal that if you try to invest #20,000 in that same loan app, you will get an interest of just #150 - #250 after a month.
This is absurd, I have tried investing #40000 in these loan apps several times and all I received was #150 after 40 days. Just imagine!
I tried another one by investing #60000 for 80 days and all I got was a paltry sum of #2300 .
And the last term time I checked the loan app, you will be required to pay #4500 on a loan of #15000 after just 30 days.
That is greediness and the government needs to look into this and find a way to regulate the interest of online loan lenders.
Failure to do these will continue to increase the no of loan defaulters as these loan interest are outrageous.
1 Like |
| Re: Humongous Loan Apps Interest Rates by techboss1313: 6:18pm On Nov 29, 2021 |
I have used a couple of loan apps in the last months, they all had mad interest rate, somebody on Nairaland told me about FairMoney and I swear na dem get the best interest rate in Nigeria Right now chaseblack:
Although I agree that an agreement is an agreement but I think loan apps are taking advantage of Nigerians.
The interest rate these apps fix on loans are absurd and sometimes I don't blame people for default.
What is more annoying is that when you apply to invest in that same company ,they offer peanuts as interests.
For instance, one loan app has an overinflated interest rate of 30% for borrowers but if you are an investor, you will be offered a paltry rate of 1.5-3 %. That's criminal!
To make it clearer, if you borrow 20000 you'll be required to pay back #28,000 - #30,000, which means an interest of #8000-#10000 for just 30 days.
But personal findings reveal that if you try to invest #20,000 in that same loan app, you will get an interest of just #150 - #250 after a month.
This is absurd, I have tried investing #40000 in these loan apps several times and all I received was #150 after 40 days. Just imagine!
I tried another one by investing #60000 for 80 days and all I got was a paltry sum of #2300 .
And the last term time I checked the loan app, you will be required to pay #4500 on a loan of #15000 after just 30 days.
That is greediness and the government needs to look into this and find a way to regulate the interest of online loan lenders.
Failure to do these will continue to increase the no of loan defaulters as these loan interest are outrageous.
1 Like |
| Re: Humongous Loan Apps Interest Rates by techboss1313: 6:19pm On Nov 29, 2021 |
For real bro, the interest rate you get with FairMoney is unmatched! FairMoney Thank you oo kingcolearchive:
As much as i would have loved to agree with you, I still think you are wrong, FairMoney interest rate is one of the best out there. 1 Like |
| Re: Humongous Loan Apps Interest Rates by Ramzyranks: 6:28pm On Nov 29, 2021 |
Most of these apps are not registered with CBN. I have learnt my lesson, I only use verified platform like Fairmoney and the likes to borrow money Wawelexy:
Trying so hard to differentiate them with yahoo guys...
More so, they're devilish......
All those shouting business is business, agreement is agreement, they ve staffs to pay, nigerians are dubious and all that, thereby taking sides with this people just because you re comfortable and living fine, why not for once put urself in shoes of those that re less privilege....
And moreover, 60% of this loan suitors have the intentions of paying back but defaulted due to one or two challenges and will still pay back with interest even after humiliation by this loan companies.....
Imagine what the op said, 60k to get 2300 for good 80days but yet these parasites in disguise would disburse 30k to their victims(customers) and expect them to pay back 43500k in just 14days. SOKOLOAN PRECISELY....
Now which business will I invest 30k and make profit of 13500k in just two weeks, naso money easy to make?
Government should please stop these people from taking advantage of Nigerians, More so, protect our privacy from them.
I know someone would ask if am a victim, sorry no reply for u, and to those planning to quote me, I hope u re not going to tell me sh*t like, didn't u see the terms and conditions, they also run a business, why didn't u pay in time and bla bla bla? because na Ogun go...... U know the rest... 1 Like |
| Re: Humongous Loan Apps Interest Rates by Ramzyranks: 6:29pm On Nov 29, 2021 |
The only time i took loan was with FairMoney and I am glad I took the loan. The interest rate was what attracted me techboss1313:
I have used a couple of loan apps in the last months, they all had mad interest rate, somebody on Nairaland told me about FairMoney and I swear na dem get the best interest rate in Nigeria Right now 1 Like |
| Re: Humongous Loan Apps Interest Rates by Ramzyranks: 6:32pm On Nov 29, 2021 |
The government should look into some of these people. guys like Fairmoney work hard in helping Smes and even individuals get loans and they are even registered chaseblack:
Although I agree that an agreement is an agreement but I think loan apps are taking advantage of Nigerians.
The interest rate these apps fix on loans are absurd and sometimes I don't blame people for default.
What is more annoying is that when you apply to invest in that same company ,they offer peanuts as interests.
For instance, one loan app has an overinflated interest rate of 30% for borrowers but if you are an investor, you will be offered a paltry rate of 1.5-3 %. That's criminal!
To make it clearer, if you borrow 20000 you'll be required to pay back #28,000 - #30,000, which means an interest of #8000-#10000 for just 30 days.
But personal findings reveal that if you try to invest #20,000 in that same loan app, you will get an interest of just #150 - #250 after a month.
This is absurd, I have tried investing #40000 in these loan apps several times and all I received was #150 after 40 days. Just imagine!
I tried another one by investing #60000 for 80 days and all I got was a paltry sum of #2300 .
And the last term time I checked the loan app, you will be required to pay #4500 on a loan of #15000 after just 30 days.
That is greediness and the government needs to look into this and find a way to regulate the interest of online loan lenders.
Failure to do these will continue to increase the no of loan defaulters as these loan interest are outrageous.
|
| Re: Humongous Loan Apps Interest Rates by joeytrib: 6:34pm On Nov 29, 2021 |
I agree with you o, i have taken loan from Fairmoney two times and I still plan to use them when next I need them Ramzyranks:
The government should look into some of these people. guys like Fairmoney work hard in helping Smes and even individuals get loans and they are even registered 1 Like |
| Re: Humongous Loan Apps Interest Rates by joeytrib: 6:39pm On Nov 29, 2021 |
Chief, not all of them have crazy interest rate the few loan apps I have tried Fairmoney and I still think they have a reasonably better interest rate compared to others chaseblack:
Although I agree that an agreement is an agreement but I think loan apps are taking advantage of Nigerians.
The interest rate these apps fix on loans are absurd and sometimes I don't blame people for default.
What is more annoying is that when you apply to invest in that same company ,they offer peanuts as interests.
For instance, one loan app has an overinflated interest rate of 30% for borrowers but if you are an investor, you will be offered a paltry rate of 1.5-3 %. That's criminal!
To make it clearer, if you borrow 20000 you'll be required to pay back #28,000 - #30,000, which means an interest of #8000-#10000 for just 30 days.
But personal findings reveal that if you try to invest #20,000 in that same loan app, you will get an interest of just #150 - #250 after a month.
This is absurd, I have tried investing #40000 in these loan apps several times and all I received was #150 after 40 days. Just imagine!
I tried another one by investing #60000 for 80 days and all I got was a paltry sum of #2300 .
And the last term time I checked the loan app, you will be required to pay #4500 on a loan of #15000 after just 30 days.
That is greediness and the government needs to look into this and find a way to regulate the interest of online loan lenders.
Failure to do these will continue to increase the no of loan defaulters as these loan interest are outrageous.
1 Like |
| Re: Humongous Loan Apps Interest Rates by joeytrib: 6:42pm On Nov 29, 2021 |
Not all of them are devilish sha, i can boldly beat my chest to say Fairmoney is the king Wawelexy:
Trying so hard to differentiate them with yahoo guys...
More so, they're devilish......
All those shouting business is business, agreement is agreement, they ve staffs to pay, nigerians are dubious and all that, thereby taking sides with this people just because you re comfortable and living fine, why not for once put urself in shoes of those that re less privilege....
And moreover, 60% of this loan suitors have the intentions of paying back but defaulted due to one or two challenges and will still pay back with interest even after humiliation by this loan companies.....
Imagine what the op said, 60k to get 2300 for good 80days but yet these parasites in disguise would disburse 30k to their victims(customers) and expect them to pay back 43500k in just 14days. SOKOLOAN PRECISELY....
Now which business will I invest 30k and make profit of 13500k in just two weeks, naso money easy to make?
Government should please stop these people from taking advantage of Nigerians, More so, protect our privacy from them.
I know someone would ask if am a victim, sorry no reply for u, and to those planning to quote me, I hope u re not going to tell me sh*t like, didn't u see the terms and conditions, they also run a business, why didn't u pay in time and bla bla bla? because na Ogun go...... U know the rest... 1 Like |
| Re: Humongous Loan Apps Interest Rates by jerryidinoba: 6:48pm On Nov 29, 2021 |
As a benefactor of Fairmoney, I have taken loans from fairmoney and they did not stress me Ramzyranks:
The government should look into some of these people. guys like Fairmoney work hard in helping Smes and even individuals get loans and they are even registered 1 Like |
| Re: Humongous Loan Apps Interest Rates by jerryidinoba: 6:53pm On Nov 29, 2021 |
The problem is with the government and regulators. I am a big fan of Fairmoney and other registered loan apps. But Fairmoney is is their baba chaseblack:
Although I agree that an agreement is an agreement but I think loan apps are taking advantage of Nigerians.
The interest rate these apps fix on loans are absurd and sometimes I don't blame people for default.
What is more annoying is that when you apply to invest in that same company ,they offer peanuts as interests.
For instance, one loan app has an overinflated interest rate of 30% for borrowers but if you are an investor, you will be offered a paltry rate of 1.5-3 %. That's criminal!
To make it clearer, if you borrow 20000 you'll be required to pay back #28,000 - #30,000, which means an interest of #8000-#10000 for just 30 days.
But personal findings reveal that if you try to invest #20,000 in that same loan app, you will get an interest of just #150 - #250 after a month.
This is absurd, I have tried investing #40000 in these loan apps several times and all I received was #150 after 40 days. Just imagine!
I tried another one by investing #60000 for 80 days and all I got was a paltry sum of #2300 .
And the last term time I checked the loan app, you will be required to pay #4500 on a loan of #15000 after just 30 days.
That is greediness and the government needs to look into this and find a way to regulate the interest of online loan lenders.
Failure to do these will continue to increase the no of loan defaulters as these loan interest are outrageous.
1 Like |
| Re: Humongous Loan Apps Interest Rates by greychris: 6:58pm On Nov 29, 2021 |
Omo it is actually a very sad story. I try so hard to let people know about platforms they can borrow money from with less interest rate. FairMoney is the best out there at the moment Wawelexy:
Trying so hard to differentiate them with yahoo guys...
More so, they're devilish......
All those shouting business is business, agreement is agreement, they ve staffs to pay, nigerians are dubious and all that, thereby taking sides with this people just because you re comfortable and living fine, why not for once put urself in shoes of those that re less privilege....
And moreover, 60% of this loan suitors have the intentions of paying back but defaulted due to one or two challenges and will still pay back with interest even after humiliation by this loan companies.....
Imagine what the op said, 60k to get 2300 for good 80days but yet these parasites in disguise would disburse 30k to their victims(customers) and expect them to pay back 43500k in just 14days. SOKOLOAN PRECISELY....
Now which business will I invest 30k and make profit of 13500k in just two weeks, naso money easy to make?
Government should please stop these people from taking advantage of Nigerians, More so, protect our privacy from them.
I know someone would ask if am a victim, sorry no reply for u, and to those planning to quote me, I hope u re not going to tell me sh*t like, didn't u see the terms and conditions, they also run a business, why didn't u pay in time and bla bla bla? because na Ogun go...... U know the rest... 1 Like |
| Re: Humongous Loan Apps Interest Rates by greychris: 7:00pm On Nov 29, 2021 |
Broo FairMoney borrow me money no collect interest because i quick pay my loan back. I happy die! joeytrib:
Not all of them are devilish sha, i can boldly beat my chest to say Fairmoney is the king 1 Like |
| Re: Humongous Loan Apps Interest Rates by temiregiddy: 7:04pm On Nov 29, 2021 |
I remember one time i borrowed money from Fairmoney and when i paid back they didn't even take interest from me chaseblack:
Although I agree that an agreement is an agreement but I think loan apps are taking advantage of Nigerians.
The interest rate these apps fix on loans are absurd and sometimes I don't blame people for default.
What is more annoying is that when you apply to invest in that same company ,they offer peanuts as interests.
For instance, one loan app has an overinflated interest rate of 30% for borrowers but if you are an investor, you will be offered a paltry rate of 1.5-3 %. That's criminal!
To make it clearer, if you borrow 20000 you'll be required to pay back #28,000 - #30,000, which means an interest of #8000-#10000 for just 30 days.
But personal findings reveal that if you try to invest #20,000 in that same loan app, you will get an interest of just #150 - #250 after a month.
This is absurd, I have tried investing #40000 in these loan apps several times and all I received was #150 after 40 days. Just imagine!
I tried another one by investing #60000 for 80 days and all I got was a paltry sum of #2300 .
And the last term time I checked the loan app, you will be required to pay #4500 on a loan of #15000 after just 30 days.
That is greediness and the government needs to look into this and find a way to regulate the interest of online loan lenders.
Failure to do these will continue to increase the no of loan defaulters as these loan interest are outrageous.
1 Like |
| Re: Humongous Loan Apps Interest Rates by temiregiddy: 7:06pm On Nov 29, 2021 |
My problem is that people are still sleeping on Fairmoney and they should open their eyes now greychris:
Omo it is actually a very sad story. I try so hard to let people know about platforms they can borrow money from with less interest rate. FairMoney is the best out there at the moment |
| Re: Humongous Loan Apps Interest Rates by chumsfortech: 7:19pm On Nov 29, 2021 |
I legit believe FairMoney is trying their best to make sure that everybody gets access to loans greychris:
Omo it is actually a very sad story. I try so hard to let people know about platforms they can borrow money from with less interest rate. FairMoney is the best out there at the moment 1 Like |
| Re: Humongous Loan Apps Interest Rates by megabosslevelz: 7:22pm On Nov 29, 2021 |
You sef see am, today like this I still enjoy that no interest rate. FairMoney way everyday greychris:
Broo FairMoney borrow me money no collect interest because i quick pay my loan back. I happy die! 1 Like |
| Re: Humongous Loan Apps Interest Rates by megabosslevelz: 7:29pm On Nov 29, 2021 |
Don't generalize bro, not all of them are evil. Fairmoney is one of the leading loan apps out there at the moment, I have used it more than enough times to know that they are not evil. Nigerians just need to wake up and start avoiding stupid loan sharks that blackmail people chaseblack:
Although I agree that an agreement is an agreement but I think loan apps are taking advantage of Nigerians.
The interest rate these apps fix on loans are absurd and sometimes I don't blame people for default.
What is more annoying is that when you apply to invest in that same company ,they offer peanuts as interests.
For instance, one loan app has an overinflated interest rate of 30% for borrowers but if you are an investor, you will be offered a paltry rate of 1.5-3 %. That's criminal!
To make it clearer, if you borrow 20000 you'll be required to pay back #28,000 - #30,000, which means an interest of #8000-#10000 for just 30 days.
But personal findings reveal that if you try to invest #20,000 in that same loan app, you will get an interest of just #150 - #250 after a month.
This is absurd, I have tried investing #40000 in these loan apps several times and all I received was #150 after 40 days. Just imagine!
I tried another one by investing #60000 for 80 days and all I got was a paltry sum of #2300 .
And the last term time I checked the loan app, you will be required to pay #4500 on a loan of #15000 after just 30 days.
That is greediness and the government needs to look into this and find a way to regulate the interest of online loan lenders.
Failure to do these will continue to increase the no of loan defaulters as these loan interest are outrageous.
1 Like |
| Re: Humongous Loan Apps Interest Rates by bigboychukstar: 7:47pm On Nov 29, 2021 |
Fairmoney is actually doing great i have received loan from them very well and they no disappoint me joeytrib:
Chief, not all of them have crazy interest rate the few loan apps I have tried Fairmoney and I still think they have a reasonably better interest rate compared to others 1 Like |
| Re: Humongous Loan Apps Interest Rates by chaseblack(m): 8:52pm On Nov 29, 2021 |
techboss1313:
I have used a couple of loan apps in the last months, they all had mad interest rate, somebody on Nairaland told me about FairMoney and I swear na dem get the best interest rate in Nigeria Right now They have the best interest rest among the rest ,yes , but all in all it is high. 30% on a 30days loan is too high. |
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| Re: Humongous Loan Apps Interest Rates by delex004(m): 10:21pm On Nov 30, 2021 |
Fakahe:
Do you need a loan this Festive period for Christmas celebration or for business purpose or for personal need then I'm glad to inform you that you get a loan from Polaris bank even if you don't have an account with the bank. You can get between 50k to 2 million naira without collateral and less paper work with a monthly interest rate of just 2% for a duration of up to 8 months repayment period. This information is completely free and I'm not charging for it or collecting any fee before you can get the loan. If interested, kindly click on my WhatsApp link below to chat me up
http://.us/w/?c=a70bf0 Scammer Beware |
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