It is also generally clear that the rate of unemployment in Nigeria especially is heartfelt.
"Nigeria unemployment rate to reach 33.5 per cent by 2020, says the federal government"
Minister of Labour and Employment - Sen. Chris Ngige, said this while declaring open a two-day workshop on “Breaking the Resilience of High Unemployment Rate in the Country”, in Abuja The federal capital territory FCT.
The implications of this is that if you do not have a job:
1. You have a need
2. You have some potentials
3. You have a proposal
4. You have a future to build
5. You do not have the fund
6. You do not have a collateral
7. You do not have a salary account
8. You are not eligible/qualified for loan
9. You have the business plan
10. You do not have required fund to e execute it.
It is now very obvious that all of the above contributes to the high rate of unemployment in the Nation.
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See A Typical Eligibility Requirement From Our Bank To Loan Seekers
Eligibility For Loan:
I. Minimum monthly net salary of NGN 75,000 (NGN50,000 for Government Parastatals)
ii. Letter of confirmation from employer
iii. Valid identification document
See The Required Documents For A Personal Loan
The following documents are required:
1. Signed application form
2. Bank statements for the last 3 months
3. Pay slips for the last 3 months
4. Copy of driver's license, international passport, national ID or voter's card
5. Letter of undertaking from employer to domicile your salary with Standard Chartered Bank
6. Important Information Documents (IID).
The interest rate is always very high compere to interest rate in other countries.
Personal loan interest rates generally range from about 5 percent to 36 percent.
What's that!
They will tell you that the actual rate you receive depends on multiple factors, such as your credit score, annual income, and debt ratios. But when you are in you are in.
If you are not employed in any way you definitely have no such provision for the above requirements.
The only option left for you is to go for loan with collateral requirement.
Such loan requires almost 200 to 300 percent of the loan value.
Also it may be in landed property or vehicular property.
But the honest fact is that the unemployed never meet such requirements.
Though both the employed and the unemployed are the bank customers but the loan are technically designed for the employed for the bank greedy interest.
It is now obvious that technically there is no loan available for the unemployed and except you pass through the government SMEs loan scheme which is still very difficult to access because of the limited provision and unfair administration.
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What Did You Do When You Lost You Dream?
When you lost your dream what do you do?
Would you just place your hand on your head and cry?
Is suicide the the only option?
Do you just watch other in the rain.
No!
You have to complete!
Think there most be something you have not tried.
That thing may be that you have not tried NaijaLoan.
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