Just tried to see if I can get a loan from the app but was dismayed and disappointed when I saw their exorbitant interest rate attached. This is a total reepoff. If CBN is serious about protecting bank customers, they shouldn't have allowed apps with this kind of interest rate to exist.

Why would people not find it difficult to pay back loans from loan apps when u will issue out loans with this kind of huge interest rate attached and at same time expect the person to payback in less than 14 days. This is terrible.

I am borrowing 8k and u want me to pay back 12100 in 14days. That's 51% interest attached to the loan in just 14days. I wish i can report this to CBN....this is why many people keep finding it difficult to pay off their loan and the wicked loan app goes about disgracing such people. This is a big problem that must be looked into by the government.

The minimum payment plans for loans should be 30 days. Some good loan provider would even split up your loan in 3 phase to be paid in 3 months etc.

It is risky for them too to be giving out loans to total strangers without collateral. It is my personal opinion that anyone has the right to conduct their private businesses as they wish as long as the terms and conditions are not hidden from the potential clients. If you do not agree with the terms, delete the app and move to the next one.

All of them are thieves

thesicilian:
It is risky for them too to be giving out loans to total strangers without collateral. It is my personal opinion that anyone has the right to conduct their private businesses as they wish as long as the terms and conditions are not hidden from the potential clients. If you do not agree with the terms, delete the app and move to the next one.

that is criminality. Their terms is against CBN loan guideline. Why would a loan company/bank be caharging 51% interest on loan with a payment period of 14days. That is terrible, stop supporting bad thing Bros. Such loan apps should be banned from operating in Nigeria.