What's your experience with lending apps

[Sherafina Duncan]

Absolutely not. In my country, most of these online money loans are terrible because the interest is too high. And if you are late paying, you must be prepared to be terrorized all day long via chat and telephone.

 

[Suba]

Even though I have never borrowed money from lending apps, I often read on consumer media sites, that there are lots of complaints that they make, such as billing through the office, which makes the office room noisy.

 

[Carson20t]

Any company that collects data from its clients must be in line with the GDPR or with that country's relevant regulators who subscribe to global data protection and regulation. So we should not worry much about those that are money lending apps locally because we can do a background check and verify if they are genuine.

Personally, when I am short of cash I use the local ones in my country called BIU, ZAMCASH and surprisingly some banks have partnered with mobile money and telecommunications companies such as Zamtel, MTN and Airtel to offer this same service. My experience has been awesome and I can borrow upto $200 from these lending apps.

 

[IB D]

I once heard that a customer was asked to pay an interest of over 30 in just 7 days. And most times,. people have no option because traditional lending apps are no longer giving loans easily.

 

[cherry123]

I think one need to be careful when trying to take loans from these loans sharks. You should be sure of paying back before doing this to avoid problems in future

 

[Bisolami]

I was actually thinking that the online loans in my country are more terrible because they embarrass people a lot. They will disgrace you if you cannot pay back their money

Absolutely not. In my country, most of these online money loans are terrible because the interest is too high. And if you are late paying, you must be prepared to be terrorized all day long via chat and telephone.

 

[Heatman]

I have not used any lending app before though, but I have a relation that have done this before, she had no issue with the apps. Just be sure the app you are about to use is a legit one.

There is no way I would ever be interested in making use of such applications because I don't see it as something that is realistic for me to make use of. Some people are scammed from it.

 

[Abdul01]

I'm yet to borrow money from any lending app. This is because I don't like to leave my account details online. But is the experience worth borrowing from them What's your experience?

I have never borrow from lending apps, but there was a time I needed month for a purpose and seek to complete the money from my lending app but I wasn't given just because I haven't been active on the platform.

 

[IB D]

Those lending apps would make your life a living hell if you fail to payback on due date but unfortunately, they can't do anything to you physically since they are not regulated by the Central Bank.

 

[Abdul01]

Those lending apps would make your life a living hell if you fail to payback on due date but unfortunately, they can't do anything to you physically since they are not regulated by the Central Bank.

There are some mobile bank apps that are regulated by the central bank,this is one of the reason why most people are always afraid to borrow money from these lending apps .

 

[Semi]

I once was just perusing through a lending app like I normally do most platforms and before I could say jack, they sent money to the account number I filled in on the app. Note that I never clicked "Apply". I tried reaching the customer care. They told me I must pay back with interest. I threatened to report them to play store and CBN and they stopped contacting me after I had repaid the money they sent back to them without interest.