How To Obtain Loans In Nigeria Without Falling a Victim To Scams And Fraudsters

Every blessed day, you see adverts popping up on your screen advertising loans, telling you no collateral and no documents needed. Well, they may be correct, but there is no document greater than your BVN and your date of birth and your ATM card. Although most of the loans are certified and approved by the government through Central Bank of Nigeria, many people have complained about their methods of service. Some things People complained about are as follows,

1. Calling the relatives of the client even before the expiration of the loan. They go as far as calling the in laws, schools, offices of the debtor. This is an embarrassment to many people. If they do this only if they fail on your part, then that is another thing entirely. They call four to five days before the duration, especially if they are so much in need of cash to lend to others.

2. They usually charge exorbitant fees and some hidden charges which you may not even be aware of until you are fully into the agreement. Every so often you get to know about these hidden charges when they withdraw it from your account. Some people who spoke with me on these said that they money taken away by these loans applications are never returned, no matter how you complain.

3. Occasionally, when you pay, the debt is not cancelled. Some people say they paid manually to offset their loan, but their loans were never cancelled. Every so often they tell you that they are working on it, meanwhile the charges continue to increase. At the appropriate time, they will deduct the charges even though they know that you paid earlier. This is fast becoming a worrisome trend among many loans companies, especially the more recent ones.

4. Your data may not be too safe as you are promised. Many people have been duped when people call them, tell them their account number, your date of birth, your house address and tell them that you are calling from Banks. A majority of those scammed revealed that the only places they submitted such details are on loans apps. Look, the most trickish part of this is that many people are not given loans after you have entered all these details. Some loan applications were fraudulently established to scam people. They never give loans after the victim have entered all the necessary information they required for. In no distant time, they will use these details to perpetrate their evil act.

5. Lack of proper customer service. Many of these loans companies do not have regular customer care services. They can only be active when you either default or you are being pressured to take loans. They can persuade you until you give in and apply for the loan. The loans given to you can barely solve your problems, but they will collect all your valuable and confidential information and details.

6. Another dangerous thing about these loan applications is that once you register, your details will continue to be in their profile years even after you stopped using the application. They do not erase their system, so be sure that your name will be forever in the debtors list. You cannot tell who will come in contact with such details. You must be fully guarded.

How To Obtain Loans Without Stress and Without Collateral

Some Nigerians are not even aware that their banks can give them loans for just a token of interest. For instance, if you use fidelity bank, you can get up to N200,000 without any documentation, and you can pay back any time. All your need to do is just dial *770*08# and follow the instructions. Be patient, within 5 minutes, the amount you requested will be promptly deposited into your bank account. Sporadically, they will open an account for you called overdrawn account and this automatically becomes your loan account number. When you borrow.

100,000 interest payable is 5,000 per month

200,000 interest payable is 10,000 per month

400,000 interest payable is 20,000 per month.

800,000 interest payable is 40,000 per month

One good thing about this loan is that you can pay in instalment, and it will be deducted, and the interest rate will also reduce. Even if you don't meet, you can ask for loan's extension. Many people are not even aware that their banks give loan to their customers. Every Nigerian bank have their appropriate code for the loan. Just dial your bank's internet banking details, and you will get the proper instructions on how to go about the application processes. Be careful when going online to take loan, except you are ready for whatever that will result from it. But taking loans from your bank is the best.