damilolami:
Recently I received a message from my bank that I was selected for a collateral free loan. Initially I thought it was a scam but I applied and filled the necessary documents only for me to receive an alert a couple of hours ago crediting my account to the stipulated price. The repayment plan is monthly for four years at 23% interest rate. However I can decide to pay up before the expiration of four years. This came right on time when my business needs it.
Bottom line, I think our banks are waking up to their counterparts' strategies in developed nations.
OPINIONS please!!!

Good for you. You must be very happy!
To put a little salt in your happiness, let me tell you what happened to me last week

2 weeks ago I got a text from my bank, I am qualified for a loan without collateral.
Interest rate is 3.5% per annum

It look interesting because the last loan I got from them was at 6% interest rate, so last week I went to the bank, and filled the forms, I actually checked the repayment scheduled and the interest rate computation, It was exactly 3.5% per annum interest rate. 48hrs later I got the alert on my phone and email, I have the loan already credited to my account.

So while you are happy that you got a collateral free loan, know that at 23% interest rate, the bank is actually killing you with high interest rate.

NB: my bank in not in Nigeria

olowogboye:
23% dats a rip off when my institution gives 5% on a reducing balance. Read this

Are you an unemployed graduate, retiree or just looking into opening your own business, have you finished NYSC and you are just sitting at home expecting when government policy will change in your favour, Business Support Academy is offering everyone a chance to get a loan without collateral to develop your dream.
Our loan facility is categorized into the following sectors;

Sector 1:
Group Loan:
This sector is only allowed to borrow N50,000 for a start and the borrower must be a member of an association. Therefore, this is limited to a minimum of 5 borrowers in a group and maximum of 20. After successful payment of loan, borrower can now access N100,000 as loan.

Sector 2:
Academy Loan:
We offer loans to individuals who dont know what to do and or who needs more information on a business. We train these individuals and give them loans to start and guide them to profit. This sector has the capability to borrow from N50,000 to N5,000,000.

Sector3:
This sector covers every individual who needs a loan to enlarge their business and maximize profit. This individual must have a business already in place but needs support to expand. The available loan facility for them is between N50,000 to N500,000. This loan is without collateral.
Sector 4:
Agricultural Loan:
At BSA we also have beautiful loan plan for agricultural sector, this include Fishery, Poultry, Piggery, Crop farmers. This sector can borrow from N100,000 to N5,000,000 with a fantastic repayment plan starting at 6months, 1year depending on the type of agrio-project. Presently we are giving out an Acre of land for N15,000 for farm settlement to everyone interested in the agro project

All our loans are without a collateral but require a guarrantor and business location verification.
For more Information Please Contact Kunle on 08115331118 and Jummy on 08024418017

Hello pls can i know where this coy(BSA) of yours is so that we can discuss as i need loan for business expansion. I fall in d sector 3. 08132270492, email : dada_itis2002@yahoo.co.uk

mophiccollege:


Hello pls can i know where this coy(BSA) of yours is so that we can discuss as i need loan for business expansion. I fall in d sector 3. 08132270492, email : dada_itis2002@yahoo.co.uk

Booked

Got no account with Stanbic IBTC.

mophiccollege:


Hello pls can i know where this coy(BSA) of yours is so that we can discuss as i need loan for business expansion. I fall in d sector 3. 08132270492, email : dada_itis2002@yahoo.co.uk

Interested too but you have to make all the relevant information available here. What you just succeeded in doing is to wet our appetite and get us interested. Give all the details...

ignore this they are liarsssssssssssssssssssssssssss

let me correct some misconception about about the 23% intrest let say u borrow 500k, u pay 16,025.74
Monthly Principal & Interest,
769,235.32
Total of 48 Payments,
269,235.32
Total Interest Paid, for 4 years.
u can use the calculator link below to do d calculation.

www.amortization-calc.com/

Hello..
Is there any bank I can get a collateral free loan to expand my business.
Thanks.

damilolami:

Recently I received a message from my bank that I was selected for a collateral free loan. Initially I thought it was a scam but I applied and filled the necessary documents only for me to receive an alert a couple of hours ago crediting my account to the stipulated price. The repayment plan is monthly for four years at 23% interest rate. However I can decide to pay up before the expiration of four years. This came right on time when my business needs it.
Bottom line, I think our banks are waking up to their counterparts' strategies in developed nations.
OPINIONS please!!!

Hello... what branch did u get this facility? and can u state the amount gotten? Thanks

clemigho:
Please do you have office in Abuja? As am interested in Sector 4

Pls.Do u have office Office or Branch in Akwa Ibom State?
I am interested in group lending,and the package for agric.Ours is a cooperative

debbiedoyin:
Guys pls this is very urgent..i got an offer
from both gtb and diamond bank to resume training
skul next week. Both are for graduate trainee..
Pls this question is for nairalanders that WORK IN
EITHER GTB OR DIAMOND and nairalanders that
knows soo much about both banks i.e current and
first hand info.
Pls Wats both banks condition for promotion & work
ethics?
Am not interested about the pay I just want a good
work enviroment not a stiff and mean environment
and a place where I can rise up quickly in my career
pursuit..thanks yall as u respond swiftly. God bless!

You must be a hot cake and a lucky guy, too.

akindelesi:
I'm pretty sure you're not getting the rate right. One, it's probably 23% annually and not monthly. At least i know that Diamond bank's loan goes for that rate. Secondly, no bank will go to that extent in exploiting its customers, CBN'll not allow it. There's a Banker's Tariff that guides what fees and how much Banks can charge. Microfinance banks maybe, but definitely not a commercial bank.
Speak with your account officer to get a breakdown or what you'll be charged.

Better stated now.

hello house,

is this BSA product still on?

I need an agriculture based loan.

Need money for important personal projects? Finding it impossible meeting collateral requirements etc to get a loan from your bank? Live and work in the FCT?

Great! Cos, RenMoney, your favourite Consumer Finance MFB is now in Abuja!

Irrespective of whom you bank with, you're eligible for a RenMoney loan backed by your salary alone.

+2347087192622 is the number. We'll be glad to help you out!

Please spread the word to friends and colleagues

pls is Fidelity bank doing same?

http://articlesng.com/good-lending-principles-techniques-commercial-banks/
Good lending principles techniques in commercial banks in Nigeria

Something must be temporarily wrong with stage in the process. This is cuz my company did the same with stanbic, and staff got their facilities the following week.

Again, I wanna believe it was not deliberate.

triaophant:
Stanbic are just deceiving people who are gullible. They came to my office months ago and we did everything to convince our management to guarantee us to do business with them. However after months of domicilation of our account with them, we have discovered that the purported loan scheme is a fraud. we have written them series of letters to return all our documents with them without success. As a last resort, we are about taking legal action against them in a court of law and I bet you that will be well celebrated.

nbfvfd

ajadek:
23% every month for 3yrs,what busines u want to do and pay 23%, if u want to fixed money with them peanut will be given 3%,but they give 23% loan,with dis our black market

I tire o serious black market o but it should be 23% per annual