oluwaleokey:


25%-6 months
Its from a commercial bank

That is about 12.5% for the 6 months.

odimbannamdi:


It's high. Imagine you take out 1m, that's 250k payable in 6 months.

Interest rates are per annum or per month

emmanuelewumi:



Interest rates are per annum or per month

Sir, Does this imply, with a good turnover in the business account that the interest may not even hit the 12.5% after the 6 months elapses?

oluwaleokey:


Sir, Does this imply, with a good turnover in the business account that the interest may not even hit the 12.5% after the 6 months elapses?

25% per annum, is 12.5% in 6 months.


Overdraft is a line of credit and not a loan.

With your overdraft facility you can have a negative balance on your account up to a given limit. You will pay interest based on the daily negative balance in your account

plat0:
There's been too many complaint, I believe that going forward, they will fix the loop holes in their system.

Hypocrisy they smell for this forum. As if GTBank did not steal my 240k and till today they haven't returned it.
Or you haven't seen video clips of people going to Access Bank branches to fight them in person after several complaints of money missing left unattended to.

I'm not saying Kuda is good or not. But if they are facing the same problems that bigger traditional banks also suck at, why should Kuda be the sacrificial lamb?

I've worked with a financial institution before and I can tell you for sure that 40% of customer complaints is due to greed, another 40% is due to illiteracy. So someone calls you and say they are calling from Kuda Investment PLC, you give them your pin and they wipe your money and you blame Kuda.

Another person calls and says they want to help you upgrade your account, you give them your pin and they wipe your account, you blame Kuda.

Someone here was blaming Zenith bank marketers for recommending IMG investment to customers. Like seriously? Them force the customer to invest?

Tell people to build their literacy, security and investment knowledge. If not they will not only have issues with their Kuda, they will have issues with their Instagram, their Facebook, their emails, in fact their whole online life.

Kuda has become a den of scammers lately. That's the price you pay anyway when you spend too much on marketing and advertising and less on building a stronger structure/model. When you advertise rigourously, you attract both good customers and scammers. The good customers will come dumping their monies with you, the scammers will also come looking for loopholes in your operating model.

This is why I'm always very wary of extremely popular brands that are based on new or unproven models. Same reason I would recommend VFD instead of Kuda, and Cowrywise instead of Piggyvest [This is based on my personal/subjective views please]. I go to where scammers are less likely to go, all things being equal.

Was surprised to see Kuda on Google play store with over 1 million downloads in one year or so. Even the VFD the management of Kuda copied is way below 500k downloads after 5+ years.

Cowrywise over Piggy? Can you please expatiate on this.

Acidosis:
Kuda has become a den of scammers lately. That's the price you pay anyway when you spend too much on marketing and advertising and less on building a stronger structure/model. When you advertise rigourously, you attract both good customers and scammers. The good customers will come dumping their monies with you, the scammers will also come looking for loopholes in your operating model.

This is why I'm always very wary of extremely popular brands that are based on new or unproven models. Same reason I would recommend VFD instead of Kuda, and Cowrywise instead of Piggyvest [This is based on my personal/subjective views please]. I go to where scammers are less likely to go, all things being equal.

Was surprised to see Kuda on Google play store with over 1 million downloads in one year or so. Even the VFD the management of Kuda copied is way below 500k downloads after 5+ years.

davit:
Cowrywise over Piggy? Can you please expatiate on this.

Well, Cowrywise is Piggy's primary competitor but unlike Piggy, Cowrywise is barely known. Both have similar offerings, run the same model and interest rates are typically the same. I've nothing against Piggyvest asides from the fact that I'm more inclined towards the not-so-popular brand, as long as other factors (safety, investment security, interest rates, etc.) are constant.

Remember that IMG wasn't so popular too.

Acidosis:


Well, Cowrywise is Piggy's primary competitor but unlike Piggy, Cowrywise is barely known. Both have similar offerings, run the same model and interest rates are typically the same. I've nothing against Piggyvest asides from the fact that I'm more inclined towards the not-so-popular brand, as long as other factors (safety, investment security, interest rates, etc.) are constant.

davit:
Remember that IMG wasn't so popular too.

Acidosis:
Kuda has become a den of scammers lately. That's the price you pay anyway when you spend too much on marketing and advertising and less on building a stronger structure/model. When you advertise rigourously, you attract both good customers and scammers. The good customers will come dumping their monies with you, the scammers will also come looking for loopholes in your operating model.

This is why I'm always very wary of extremely popular brands that are based on new or unproven models. Same reason I would recommend VFD instead of Kuda, and Cowrywise instead of Piggyvest [This is based on my personal/subjective views please]. I go to where scammers are less likely to go, all things being equal.

Was surprised to see Kuda on Google play store with over 1 million downloads in one year or so. Even the VFD the management of Kuda copied is way below 500k downloads after 5+ years.

It is almost impossible, if not impossible to build up a system that can secure people that gave out their pin.

Good points about Kuda doing a lot of marketing, but have you seen UBA marketing these days? Their branding and ad initiative has been aggressive.

I still maintain that 80% of people have issues because of greed and illiteracy. I've done more online transactions than the average Nigerian but I have never been scammed in the past 11 years. The only issue I have had is when the banks themselves have internal problem and money hangs.

People gave MMM billions. They gave MBA forex billions. They gave Agric crowdfunding billions. They gave IMG billions.

And you expect such stupid people not to be scammed with cheap tricks

OgogoroFreak:
It is almost impossible, if not impossible to build up a system that can secure people that gave out their pin.

It's impossible my brother. Even the most secure of platforms like Twitter and Instagram that have the best engineers and cutting-edge infrastructure are receiving millions of complaints of people's accounts getting hacked.

If you give out your password or pin, how the hell are you blaming the financial organization when na you dumb.

Tobex4realTobex234:
Good points about Kuda doing a lot of marketing, but have you seen UBA marketing these days? Their branding and ad initiative has been aggressive.

I still maintain that 80% of people have issues because of greed and illiteracy. I've done more online transactions than the average Nigerian but I have never been scammed in the past 11 years. The only issue I have had is when the banks themselves have internal problem and money hangs.

People gave MMM billions. They have MBA forex billions. They have Agric crowdfunding billions. They gave IMG billions.

And you expect such stupid people not to be scammed with cheap tricks

Exactly. I can't do without online transaction yet, I have never been scammed.

I remember I put 30m in opay owealth investment. I never had any issue but I see people dropping negative feed back and dragging opay saying opay stole their 2,500 Naira from their wallet and I wonder how opay would steal such peanut, ignoring my own millions.

Till I withdrew all my money from opay, I never for once had any issue with them. Same experience with kuda, piggyvest and even risevest (Risevest delayed in funding my naija account)

davit:
Remember that IMG wasn't so popular too.

Not popular because of the minimum amount required to invest

You need minimum of N20 million, it was targeted at people with substantial amount of account balance. Reason why bankers were the marketers of the Investment

Nawa oooo


Audio people just full here sha... Make una dey calm down abeg.

There's no way a Recognised Commercial Bank will eat your Money like that and you'll forget it... Ordinary 10k wey Access Collect from my Mama... She stormed the Bank sharply.. It didn't even take 10 mins... She saw the money in her account.... They knew heads will roll if the Money wasn't sent back.

A lot of people are having issues with Kuda.... Go to their Twitter page and see for Yourself

davit:
Remember that IMG wasn't so popular too.

What's IMG?

OgogoroFreak:
It is almost impossible, if not impossible to build up a system that can secure people that gave out their pin.

True

Nezzjnr:
Nawa oooo


Audio people just full here sha... Make una dey calm down abeg.

There's no way a Recognised Commercial Bank will eat your Money like that and you'll forget it... Ordinary 10k wey Access Collect from my Mama... She stormed the Bank sharply.. It didn't even take 10 mins... She saw the money in her account.... They knew heads will roll if the Money wasn't sent back.

A lot of people are having issues with Kuda.... Go to their Twitter page and see for Yourself

Hahaha, lol at the bolded in your post, l was expecting a response like this from any poster on nairaland.com, how about if l tell you that l inherited the wealth of King Solomon and the Queen of Sheba l invested 27 million dollars with IMG , will you call me audio billionaire

AngelicBeing:
Hahaha, l was expecting a response like this from any poster on nairaland.com, how about if l tell you that l inherited the wealth of King Solomon and l invested 27 million dollars with IMG , will you call me audio billionaire

If you check well... I didn't mention any moniker at all

Nezzjnr:

If you check well... I didn't mention any moniker at all

l understand

As per angelic being you be nah

Cruise level

AngelicBeing:
Hahaha, lol at the bolded in your post, l was expecting a response like this from any poster on nairaland.com, how about if l tell you that l inherited the wealth of King Solomon and the Queen of Sheba l invested 27 million dollars with IMG , will you call me audio billionaire

Tobex4realTobex234:


Hypocrisy they smell for this forum. As if GTBank did not steal my 240k and till today they haven't returned it.
Or you haven't seen video clips of people going to Access Bank branches to fight them in person after several complaints of money missing left unattended to.

I'm not saying Kuda is good or not. But if they are facing the same problems that bigger traditional banks also suck at, why should Kuda be the sacrificial lamb?

I've worked with a financial institution before and I can tell you for sure that 40% of customer complaints is due to greed, another 40% is due to illiteracy. So someone calls you and say they are calling from Kuda Investment PLC, you give them your pin and they wipe your money and you blame Kuda.

Another person calls and says they want to help you upgrade your account, you give them your pin and they wipe your account, you blame Kuda.

Someone here was blaming Zenith bank marketers for recommending IMG investment to customers. Like seriously? Them force the customer to invest?

Tell people to build their literacy, security and investment knowledge. If not they will not only have issues with their Kuda, they will have issues with their Instagram, their Facebook, their emails, in fact their whole online life.

Please note that most of the hacks performed on KUDA are done by social engineering and not that the App is bad, some users are not very smart

Nezzjnr:
Nawa oooo


Audio people just full here sha... Make una dey calm down abeg.

There's no way a Recognised Commercial Bank will eat your Money like that and you'll forget it... Ordinary 10k wey Access Collect from my Mama... She stormed the Bank sharply.. It didn't even take 10 mins... She saw the money in her account.... They knew heads will roll if the Money wasn't sent back.

A lot of people are having issues with Kuda.... Go to their Twitter page and see for Yourself

Real audio o. When @Lazyyouth talk am, dem dey attack am. I did a transfer of a tasere amount this morning from one bank to my account in another bank through Mobile App. I got debit alert immediately but no credit alert. I login to my account and the credit no dey. After waiting 10 minutes, I was about sending a mail to their customer care and also calling them before i see the credit alert. Dem get luck o because wetin happen for 1960 for happen again.

AngelicBeing:
Hahaha, lol at the bolded in your post, l was expecting a response like this from any poster on nairaland.com, how about if l tell you that l inherited the wealth of King Solomon and the Queen of Sheba l invested 27 million dollars with IMG , will you call me audio billionaire

No. You will be called audio Naira trillionaire.

NL1960:


Real audio o. When @Lazyyouth talk am, dem dey attack am. I did a transfer of a tasere amount this morning from one bank to my account in another bank through Mobile App. I got debit alert immediately but no credit alert. I login to my account and the credit no dey. After waiting 10 minutes, I was about sending a mail to their customer care and also calling them before i see the credit alert. Dem get luck o because wetin happen for 1960 for happen again.

Leave them

If you see the way these Bank workers will start putting head together to look for a solution over a Failed Transaction ehnnnn.

hmm hello everyone, please is it safe to keep money on kuda? i basically use it for my every day transaction and i have not had any issues with it. but reading many stories on twitter on how people lost on it, i dey fear o, do u think it is safe for keeping large amount of money?


the reasons why i am using Kuda is because of free monthly 25 transfers , generally low transfer fees and fast internet banking..

do u suggest i keep my money with vfd instead, i like i said i use it everyday every hour.. i have been using it since feb though..
i stopped using local banks since .
thanks

Standard Chartered Bank does not charge on transfers and on withdrawal from other banks atm.

seanwilliam:
hmm hello everyone, please is it safe to keep money on kuda? i basically use it for my every day transaction and i have not had any issues with it. but reading many stories on twitter on how people lost on it, i dey fear o, do u think it is safe for keeping large amount of money?


the reasons why i am using Kuda is because of free monthly 25 transfers , generally low transfer fees and fast internet banking..

do u suggest i keep my money with vfd instead, i like i said i use it everyday every hour.. i have been using it since feb though..
i stopped using local banks since .
thanks

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The information is not complete, include the amount that will be invested on each property before they start generating income and the expected annual income from the property

XiaoLi:
Standard Chartered Bank does not charge on transfers and on withdrawal from other banks atm.

I will definitely find one on Monday . Thanks