Growth marketing
What factors affect loan interest rates?
But here's the thing: interest rates aren't plucked out of thin air. Many factors shape them. Things you and I might not think about when we're in the heat of the moment.
Lending
Are lenders evil for charging high interest rates?
The average lender today typically charges 4% — 10% per month (48% — 120% per year). Whoa. It makes you wonder how they recover loans at these rates. At first glance, it seems outrageous, even exploitative but there’s more to the story when you consider the risks and costs lenders face in Nigeria’s financial landscape.
