rozayx5:
Loan apps have threatened banks



They have to be innovative or shutdown

I dey tell you... Fintechs are really making Banks to sit up

Extremism:
GTB's *737*8*2# (salary advance) and *737*51*51# (quick credit) are always life savers. They now help me avoid the embarrassment of asking friends and family members for financial assistance whenever the going gets tough . I have used them several times. The last time I used quick credit, I borrowed N150,000 with a payment plan of 12 months that was more than convenient for me. I however repaid the loan within a month as soon as my account was funded. God bless GTB.

them no gree give me salary advance,dont know why even though i get my salary with the account

bukatyne:


Check second page, he attached the repayment plan.

Ok ..thank you

akpunda86:
Yea diamond into it.sorry access bank.got the sms tried it.gbam i was credited.note is a salary acct too.dis. guys making money just like borrowing credit on ur call line.4% intrest on every borrowed.helped me as school wan start.gave me 500k minus dr 4%.

I also use diamond, though I only have savings account but I was eligible for 100k loans for with the intrest of 4% and 1% for int. And 0.25 for CCl, all these I dont seem to understand. And also for how many duration?

rozayx5:


its for salary account only right?

yes.

Access bank has been blowing up my phone with loan offers when salary don dey enter steady state

ossaisly:
Some comments here are just childish and unreasonable. Virtually all bank give loans now. Do you guys know that the likes of Renmoney, zedvance and the likes make more money thank all theses commercial banks? There own interest is very scary and I am a victim already. But this Gtb is more friendly than other loan agencies. The likes of access bank, Fcmb and the rest are also giving loan at a very low interest. They are giving interest now, una still dey complain. If they don't you 'll still complain. Hope your brain is not paining you guys.

renmoney own is something else

44k a week on a 1m naira loan

Yeah, the CBN mandated banks to give out loans to encourage the real sector growth, or face stiff penalties..

But the challenge will be the bad loans that banks will fight to recover. Every Tom, Dick and Harry can get loans now.

Joy2Dwise:
I kept receiving pop-up messages from GTB on my mobile app stating that I was qualified to apply for loan but I kept ignoring them cus I knew that getting a loan is not as easy as that. I knew what I went through on few occasions when I had to take loans as small as 300k to sort out some immediate financial needs. It got to a point when I began to expect the bank to request the death certificate of my great grand father before they approve a loan amount that is not even up to my monthly earnings. The most embarrassing moment was when two close friends refused to sign guarantor forms because they claimed it was against their principle. I had to swallow my pride and go to a junior who eventually stood in as my guarantor at the end.

Out of curiousity, I clicked "accept'' just to see if it was real. Next message I got was that "your application has been accepted". To cut the long story short, I received an alert of about 1m.150k just few hours later and this sounded incredible. A scanned copy of the repayment plan was later emailed to me and when I did the calculation, I found out that the total percentage of interest is about 12% as against 22 - 26% which I was forced to cough out in previous loans I took from different banks in the past. This to me was a good deal even though I don't have a specific plan for it. Had to push it to my son's account while I wrap my head around what best to do with the money.

This instant loan and the attractive interest rate kept me wondering on the following:

1. Does it mean the banks now have so much money in their coffers to lend out to customers even without asking?
2. What is the reason for the low interest rate which to me is still far lower than what is obtainable?

I called my account officer to ascertain if I can invest it in FG bond but I wasn't impressed with the interest rate so I'm going to keep it in the bank pending on when I decide on what to do with it. Any good idea is however welcomed.

rozayx5:
Loan apps have threatened banks



They have to be innovative or shutdown

Exactly, I think we need more of these loan apps to make the financial sectors sit their asses down. They will soon go into extinction if care is not taken!

priceaction:
That's great. Welcome development too but you need to make sure you ask lots of questions and get good answers related to the loan before you finally settle for it. Naija bank can be funny at times. Make e no come turn to innoson - gtb saga which hunter became hunted.
By the way anyone knows how to get my money or credit back. I bought MTN card via access Bank apps yesterday only to get network error and disconnection. But after few hours ,got debited 3 times and NO even single credit on the phone in anyway up until now. Is there a solution to that?

send a mail to : contactcenter@accessbankplc.com
providing details and screenshot of the debit alert you got after ther failed transactions. they will access and credit back within 72hours if genuine.
happened to me dayz back,i sent a mail and got credited the next day.

mathew247:
Pay later(Carbon) is the surest way to get a loan here in naija. Na step by step shaa. Right now I'm on over 200,000 loan from them and you can pay monthly instalment till you pay it off.


Get the app,and fill your necessary details and you'll get it within minutes.

If you want a referral code then use this:
Referral code: ARINTFFR

Thank Me Later.

They are the worst, they will borrow u 50k with the interest of halve of the money they borrowed u. Funny thing is they are asking me to invest with 50k with the interest of 600 after six months.

dominique:
You're eligible for the loan because you get regular credit alerts in your account, you probably receive salary on that account. I'm sure they've implemented a repayment plan on your account by now, expect to get monthly deductions from your account till the loan is fully repaid.

Correct!.

I didn't even know it but I can confirm this because I've had money paid regularly into an account (not GTB) for the past 1 year. Few days ago, I got the same message from the bank to apply for an instant loan of over a million or so. Seems their system is doing it.

Having said that, I'll advise people to desist from such loan as its even predatory. Once you begin taking such loan, you can't do without it. Eventually, you'll end up in debt. This's how the western worlds are being ruled by giant capitalist companies wealthier than government. This's all coming from Britain as they struggle for survival outside of the EU........you all would call me a conspiracy theorist if I say more.

LINTUNE:
dude u lie... Im eligible to over 200k or so... If ur account is active atleast they would, but im not ready for loans anyway i dont fancy it.. Ill rather collect it from families and friends

You are too quick to call him a lier... Have you verified his claim? Chai Nigerians!

Zombiekiller010:
I'm waiting for the 5k promised by FG for all graduates

Lol. Keep waiting bruh. No go hustle

I have a very interesting offer for you.
Call 08169730513
I'm sure you will definitely love it.

I had a similar experience too. I got a loan from GTB by dialling a short code. And the repayment plan was good with a very low interest rate.

zeromeridian:
Since Innoson won GT bank at the supreme court, GTbank has started recruiting online marketers
trying to convince people to open account with them so that they can get instant loan.

The op is GTbank online marketer. They are looking for people to deposit money with GTB.
I had a call from someone telling me to open account with gt, that with minimum balance of 100k
that i can get a loan for 1m. but all na lies.

they are looking for money from everywhere to pay innoson.

bosunjohns:


I have applied for the loan last year from GTB. They charge 1.75% per month which translates to 21%. How did you get your 12%? Please shed more light please?

You are on point:

Was wondering how the 12% was arrived at. GTBank will market the loan with an interest rate of 1.75% while it's 21% in real term since it's an annual repayment plan.

ARIINI:
Yeah, the CBN mandated banks to give out loans to encourage the real sector growth, or face stiff penalties..

But the challenge will be the bad loans that banks will fight to recover. Every Tom, Dick and Harry can get loans now.

[quote author=rozayx5 post=81718990]Loan apps have threatened banks



They have to be innovative or shutdown[/quote


I disagree with you cos loan apps don't give out huge loan volumes like banks. They'll start giving you 5k, 15k, 20k as first time customers and will circle around that amount even if u pay and come back again and again thus milking your pocket but with your salary account in a bank be sure of getting 100-500k as a first timer and even millions with long time repayment schedule running into yrs

rainmoredays:
he doesn't know what's going on

They found him credit worthy cos he has a salary account like u said and the account officer has done his/her own calculation that he's capable of paying back with no hassles. Banks are more interested in salary account holders not mere account

Joy2Dwise:


Mr. Doubting Thomas

I rushed to comment before reading your post. My bad.
There is a risk free business I can show you. It is a loophole in bet9ja. You will need around #400k to do it.

This is just a fabricated lies, it was means of advertising for the bank in question. In Nigeria here getting money would be that easy? Just like that? Haba you too think am nah

Dont keep the money idle,remember repayment is principal plus interest accrued..its a carrot and stick approach

Interest rate may rise,also what is the amortization like..

Guess Gtb paid you for advert. The interest rate is 1.75 monthly, which is 21% per annum and failure to pay in a month attracts another 1% increase. Bank loan would always be bank loan.

Joy2Dwise:
I kept receiving pop-up messages from GTB on my mobile app stating that I was qualified to apply for loan but I kept ignoring them cus I knew that getting a loan is not as easy as that. I knew what I went through on few occasions when I had to take loans as small as 300k to sort out some immediate financial needs. It got to a point when I began to expect the bank to request the death certificate of my great grand father before they approve a loan amount that is not even up to my monthly earnings. The most embarrassing moment was when two close friends refused to sign guarantor forms because they claimed it was against their principle. I had to swallow my pride and go to a junior who eventually stood in as my guarantor at the end.

Out of curiousity, I clicked "accept'' just to see if it was real. Next message I got was that "your application has been accepted". To cut the long story short, I received an alert of about 1m.150k just few hours later and this sounded incredible. A scanned copy of the repayment plan was later emailed to me and when I did the calculation, I found out that the total percentage of interest is about 12% as against 22 - 26% which I was forced to cough out in previous loans I took from different banks in the past. This to me was a good deal even though I don't have a specific plan for it. Had to push it to my son's account while I wrap my head around what best to do with the money.

This instant loan and the attractive interest rate kept me wondering on the following:

1. Does it mean the banks now have so much money in their coffers to lend out to customers even without asking?
2. What is the reason for the low interest rate which to me is still far lower than what is obtainable?

I called my account officer to ascertain if I can invest it in FG bond but I wasn't impressed with the interest rate so I'm going to keep it in the bank pending on when I decide on what to do with it. Any good idea is however welcomed.

[quote author=zeromeridian post=81718973]Since Innoson won GT bank at the supreme court, GTbank has started recruiting online marketers
trying to convince people to open account with them so that they can get instant loan.

The op is GTbank online marketer. They are looking for people to deposit money with GTB.
I had a call from someone telling me to open account with gt, that with minimum balance of 100k
that i can get a loan for 1m. but all na lies.

they are looking for money from everywhere to pay innoson.[/quot

Doubting Thomas!

My Bank just credited me.

GTBank rocks!

It is really nice to access loan without the hassle of paperwork and officialdom.

Thank you CBN for your new policy. Thank you Emefiele.

GTBank, be rest assured of repayment and cause you are about to make your next millionaire customer!

Kelvin30286063:
Yes they now offer loans like that due to BVN validity.
I recently got the same kind of message from my bank (ACCESS BANK) and on dialing the number, I got a loan of 350k just like that. The loan came in within 5 minutes and I was shocked. The funny part is, I didn't even need the loan, I just wanted to try the fast code and laugh at their stupidity later.

The recent CBN policy has restrained banks from substantial investment in Treasury Bill and Government Bonds; the resultant effect of this development is that all Banks have more than enough liquidity with no ability to recognise where to invest it. Hence, they indulge in giving loans to credible and traceable private individuals.

In fact, another policy is out setting maximum rate of liquidity which every bank must kept, while anything higher than such rate would attract penalty.

Calm down, this is just the beginning.

Reffone:
Will u love to invest in tiles and marble business, u could make back 20% of ur money in 2months time ask me how?

How?

Not only GTbank, Access bank too send me unsolicited sms for quick loans every two days.

My account officers in GTbank will mail me every week that I could take up to N5m loan if I want.

If they check that you are creditworthy and your credit score card is good, you will definitely get mails and sms from them for quick loans.

I think this is a nice trend in the financial industry, it will help a lot of salary earners to solve immediate pressing needs.

i got about 400k too. the guy is not lying .