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Nairaland Forum / Nairaland / General / Business / FG Approves 173 Loan Apps, Bars Illegal Online Banks (35759 Views)
FG Bars Online Banks From Accessing Customers’ Photos, Contacts / FG Orders Google, Apple To Deactivate ‘illegal’ Online Banks, Loan Apps / FG Shuts Illegal Online Banks, Freezes Business Accounts (2) (3) (4)
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Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by Justpd: 8:51am On Apr 04, 2023 |
Jamiubond009: And una think people still give a Bleep?😂😂😂 Na una go still tire 2 Likes 1 Share |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by AsaBlackheart(m): 8:54am On Apr 04, 2023 |
jaeyking: The problem is most of the loan apps have hidden charges. For example, you get offered 10k to repay let's say 12k in 1-2 weeks. that's fair right? well that's until you realize that the 10k you're offered actually has a hidden charge and you'll be credited like 7k. now how will you lend someone 7k and expect him to pay back 12k in a week? that's really wrong and just means of extortion. 7 Likes |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by AsaBlackheart(m): 8:55am On Apr 04, 2023 |
Justpd: the contacts Dem dey call sef don't give a shite lol 3 Likes 1 Share |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by Tonytonex(m): 8:56am On Apr 04, 2023 |
Thanks Op for sharing this info. Please where can one see the full list of the approved ones? @ adenigga And others. 1 Like |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by Getin2ouch: 8:57am On Apr 04, 2023 |
EriMma1:Fair for where? The interest rate of some loan sharks is better than that of fairmoney. They are just loan sharks in disguise. How can you lend someone 300k and expect him to be pay back 522k? |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by Ishilove: 9:02am On Apr 04, 2023 |
Carbon MFB is really nice. Failed transactions are reversed in minutes and you get to see the status of your transactions and the exact time it hits the beneficiary account, so nobody can tell you 'it hasn't entered'. Highly recommended 3 Likes |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by EriMma1: 9:04am On Apr 04, 2023 |
Getin2ouch: When last did you deal with them? They recently reduced their interest rate though it's high but compared to other ones I think it's a bit fair. Which ones do you recommend that is better than fair money? |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by AmazingELixir: 9:07am On Apr 04, 2023 |
Hezzyluv: ![]() Were you forced to take the loan or in your bid to acquire fast and easy money you failed to read the terms and conditions of the loan application. Abeg don't lie to us here gaan pay up your loan and the interest more importantly. 1 Like |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by Moniya4Real(m): 9:07am On Apr 04, 2023 |
It human nature to manipulate a system for favorable outcome. That’s why people avoid tax)which is a legal way of not paying tax instead of evading it(which is unlawful ). It’s the for the relevant government agencies to come up with effective regulations to protect both the lender and the customers Padosky242: 1 Like |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by Moniya4Real(m): 9:10am On Apr 04, 2023 |
For those of you who are sympathetic to the cause of unapproved loan apps.. pls, read below. “Findings have shown that interest rates charged by loan apps violate lending ethics. They also involve in the public humiliation of defaulters and engage in privacy violations. Read more: https://www.legit.ng/business-economy/technology/1528618-fg-releases-updated-list-approved-digital-money-lenders-banks-nigeria-adds-popular-names” 1 Like 1 Share |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by Nobody: 9:10am On Apr 04, 2023 |
Jamiubond009: If they can't abide by the rules. Let them find another business and do. Every business has its risk and those risk are factored in government policies. |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by IMASTEX: 9:12am On Apr 04, 2023 |
yinkus6750:Exactly, there should be a balance in the system. Why the loan sharks go extreme in most cases is because of weak/zero govt registrations, same for the dubious customers. |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by gloryman91: 9:18am On Apr 04, 2023 |
Student loan interest should be free. |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by vickydevoka(m): 9:18am On Apr 04, 2023 |
Hezzyluv:But you self reason am. Them no force anybody but the greedy ones go still borrow to play two sure odd |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by MrBroke(m): 9:21am On Apr 04, 2023 |
grandstar: What about 25% for a month, is that okay by you? Cause that's the interest rate on my loans |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by Moneyboyz: 9:22am On Apr 04, 2023 |
EriMma1: I can't that's why I used imagine, all these things no dey freak me. |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by Banter1(m): 9:22am On Apr 04, 2023 |
Everything about Nigeria na to set up committee sucking money before they act. Just take the damn app down on playstore asap. 1 Like |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by MrBroke(m): 9:29am On Apr 04, 2023 |
Never had borrowed money from anyone at any point in my life, and probably never will. 400k available for me from my bank with no collateral but i ain't taking. I don't believe in other people's money for anything 2 Likes |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by SalamRushdie: 9:32am On Apr 04, 2023 |
felixzo1: Then you should never have accepted the term in first place , they are not regulated banks so they can set their lending rate anyway they like and it's left for you to reject them 1 Like |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by SalamRushdie: 9:33am On Apr 04, 2023 |
erniok: That why you should reject their terms from the get go ..if everyone rejects their terms they will have no choice but to step it down or close shop |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by Getin2ouch: 9:42am On Apr 04, 2023 |
EriMma1:I have never taken loan from them. What I wrote earlier happened to someone I know and it was about 2 months ago. I have only borrowed from easemoni and okash before. And to me their interest rate is way fairer than that of fairmoney. But I have since stopped patronizing these loan apps and anything loan in general. 2 Likes |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by Nobody: 9:44am On Apr 04, 2023 |
Getin2ouch:Over a period of how many months, and how much per month? Why don't you state it. Give a complete information. It's simple SIMPLE INTEREST in Mathematics. And do you know there's option to extend your loan date, even receive top up loan. |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by Getin2ouch: 9:48am On Apr 04, 2023 |
4Humanity4All:Over a period of 6 months. To be paying 87k each month. |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by Hezzyluv: 9:48am On Apr 04, 2023 |
AmazingELixir: Not in da mud 2 engage u, I'll just let it slide. ![]() |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by ahamonyeka(m): 9:56am On Apr 04, 2023 |
Even some microfinance institutuons need to be ban also. |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by Nobody: 9:57am On Apr 04, 2023 |
Getin2ouch:Hmm. While we may not be comfortable with their interest, I believe people see all these terms and conditions before taking the loan and it's not advisable to take a loan if the money is not used to make more money. You can decide to pay back over a period of 12,18 or 24 months though the total amount to be paid back is going to increase. It's simple mathematics. You can pay a little amount of money to extend the due date. I have been lucky to get a top up loan before from them and from what I've heard, they don't call your contacts compared to other apps. Please, let's stop demonizing these loan apps. Some people find them helpful. It's not by force to take loans. 1 Like |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by Emmy000seun(m): 9:59am On Apr 04, 2023 |
Bro you never see how this fools operates.. and how will you borrow someone money and you expect him to pay almost 50percent interest with the amount borrowed in the space of a week jaeyking: |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by EriMma1: 9:59am On Apr 04, 2023 |
Getin2ouch: Which ease money? That one is worst. I downloaded their app last year but when I saw their charges, I immediately deleted it. Men it was Soo high... I just needed 10k to make up one money like that. So I said let me see if other ones will be better than fair money who charges 1500 for 10k. Omor this people charge 3k for 10k. I just jejely went back to fairmoney. Now, for 10k, fairmoney charges 1400 or thereabout. 40k used to be 10k but now 5k plus if you're paying back in two weeks or 6k + for one month duration. |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by grandstar(m): 10:03am On Apr 04, 2023 |
MrBroke: Hmm.m To me, anything about 25% to me is high. Palmcredit has been pleading I borrow but it seems they charge more than 25% and their repayment plan a bit harsh. I would happily recommend Fairmoney and Branch. |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by jakizio42(m): 10:07am On Apr 04, 2023 |
I'm looking for a means to pay tuition i considered taking a loan but these apps don't offer much on first loan trial. who can help me here? |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by Getin2ouch: 10:09am On Apr 04, 2023 |
EriMma1:Easemoni is different from ease money o. I once borrowed 12k from them and paid back 13.2k in 2 weeks. 2 Likes |
Re: FG Approves 173 Loan Apps, Bars Illegal Online Banks by Getin2ouch: 10:13am On Apr 04, 2023 |
4Humanity4All:Yeah, they don't defeme their customers. But nothing justify charging an interest of 74% in space of 6 months. There is not even guarantee that a person will gain such percent (74%) of his capital in a year if he eventually invest that money in a business |
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