How To Access Commercial Banks Loan Without Affordability | Not Advisable Anyway
The negative implications, for which our team do not encourage people to take loan without affordability is the fact that the worker will be left with very little amount of money as monthly disposable income. This little disposable income, despite not good for the state of mind for workers at work, it also affects productivity and efficiency.
However, our team believe most people will not go for loan without affordability just for the sake of it. An African proverb puts it as “a toad does not run in a day time for nothing”
Accessing loans can be very stressful, especially when you do not have the affordability on payroll to do so. Lots of financial institutions, especially savings and loan companies, also try to take advantage of the public to grant them loans at high interest rates. The relatively good news is that some commercial banks in the country also provide loan without affordability, to customers.
How to access banks loan without affordability
Affordability, for the purposes of giving loans to the public by financial institutions, is calculated based on the available net salary of the customer. On the payroll, the affordability is calculated based on the net salary after all deductions by the controller is made from the gross salary.
The method of calculating the affordability by the commercial banks is the same. However, the banks calculate their affordability based on the net salary being received through the bank.
This therefore, imply that the customer looking for loan without an affordability at the controller need to have his or her salary pass through the bank in question to be considered for the opportunity to access a loan without controller affordability.
The bank managers will access the customers net salary received through the bank to determine how much they can deduct monthly to service the loan.
See also: Interest On GNAT Loan Vs CCT Loan Vs ATAG Loan
The negative implications, for which our team do not encourage people to take loan without affordability is the fact that the worker will be left with very little amount of money as monthly disposable income. This little disposable income, despite not good for the state of mind for workers at work, it also affects productivity and efficiency.
However, our team believe most people will not go for loan just for the sake of it. An African proverb puts it as “a toad does not run in a day time for nothing”
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