How to Get the Best Loan Repayment Plan in 2022


Most people have a big problem with the interest rates of their loans. The interest rate of a loan is the amount that you have to pay every month. The higher the interest rate, the more you will have to pay than the amount you received.

If you are thinking about getting a loan, you need to know about these things before going for one. Here, we will go over seven tips on how to get the best loan repayment plan in the year 2022.

1. Know the Terms of the Loan

Whenever you are looking for a loan, you need to know the terms of that loan. You need to know about the terms of the loan to compare them with other lenders. You will be able to see if there are any differences in terms of loans.

This is very important since it will give you a better understanding of what kind of interest rate you will have to pay, or what kind of repayment plan you will be required to take. Many people are not aware of the loan terms, so they end up taking on a loan with a high-interest rate.

2. Read the Fine Print

Many people do not read the fine print before getting a loan. This is because they want to know about everything in detail, and do not want to miss anything. However, many people do not read the fine print before getting a loan because they are unaware of it.

You need to understand that there are certain things that you will have to pay when you get a loan. If you get a higher interest rate than what you should pay, it will be more expensive for you.

You should know about the fine print before getting a loan rather than finding out too late once the process has started.

3. Do Your Research

On the Best Loan Repayment Plan, many lenders offer a loan repayment plan that is affordable and suitable for you. If you want to get an affordable loan, you need to research the best loan repayment plan.

You can get a hold of a few different information from online sources e.g loan servicing software, as well as from your friends and family members. This will help you get the best deal because many people have used this to get a loan before.

Many lenders offer an affordable loan, but you need to know the interest rates and other things. On the other hand, if you are looking for an affordable loan and have a good interest rate, you should get a hold of it from a reputable lender.

4. Ask Others for Advice

In getting the best loan repayment plan in 2022, you need to ask other people. You can ask the people you know if they have had a similar situation and if they can get the best loan repayment plan.

You can also ask your relatives and friends. It will be better to get a loan from a friend or relative since they will not charge you interest on their loans. If you can take advantage of this, it will be easy to get the best loan repayment plan in 2022.

5. Think About Your Income

If you are not getting a good income, you need to take a low-interest rate loan. It is better to take out a loan with a low-interest rate so that your monthly payments will be less, and you will be able to pay it off as soon as possible. If you are worried about the interest rate, getting a loan with an adjustable rate is better.

6. Consider Your Credit Score

When you want to take out a loan, it is essential to consider your credit score. Your credit score will indicate how much you can afford to pay, and how much you can borrow. If you want to get a loan with a low-interest rate, it is essential to have a good credit score. You should check your credit score before applying for the best loan repayment plan in 2022.

Wrapping Up

The tips mentioned above will help you get the best loan repayment plan in 2022. You need to know about the interest rate, as well as about the loan fees and other things that are associated with the loan. You can also get a hold of a few different information from online sources.

Related Stories

Advans Nigeria Scores Brace at Marketing Edge Awards

By Modupe Gbadeyanka It was a double reward for a foremost microfinance institution, Advans Nigeria, at the recently concluded Marketing Edge Awards in Lagos. The firm, a subsidiary of Advans Group, was announced as the Most Innovative Microfinance Bank of the Year and the Most Customer-centric Microfinance Bank of the Year. The double awards are coming after the organisation was recently named as The Best in Retail Banking of the Year at the Pan African International Award. Advans Nigeria won the accolades due to its top-notch financial services and unwavering commitment to its customers. “We are immensely proud to receive


Ecobank Pan African Centre Hosts US College and Career Fairs

By Modupe Gbadeyanka Last week, the United States Mission in Nigeria organised the annual US College and Career Fairs at the Ecobank Pan African Centre (EPAC) on Victoria Island, Lagos. The US Consul General, Mr Will Stevens, while speaking at the event, said that America remains a leading destination for international students, noting the United States offers students an unrivalled educational experience, flexibility, and diversity. “We are happy to provide Nigerian students who wish to study in the United States a unique opportunity to learn about the diversity of the programs offered at various U.S. educational institutions,” Mr Stevens said.


Unity Bank Aggressively Drives Retail Growth, Grows Earnings to N27.5bn

By Aduragbemi Omiyale Despite the harsh operating environment and the unexpected policies of the government that affected businesses in Nigeria, Unity Bank Plc showed resilience in the first six months of 2023. In its half-year unaudited financial statements filed to the Nigerian Exchange (NGX) Limited over the weekend, the bank marginally improved its gross earnings by 0.37 per cent to N27.5 billion from N27.4 billion in the first half of last year. It was observed that 10 per cent growth in the fees and income commission to N3.5 billion from N3.2 billion helped the lender jerk up its income in


Houston Texas Mayor Endorses Fidelity Bank’s Trade Expo

By Aduragbemi Omiyale The forthcoming trade expo organised by Fidelity Bank Plc has received the endorsement of the Mayor of Houston Texas, Mr Sylvester Turner. Mr Turner, in a short video, highlighted the several side attractions scheduled for FITCC Houston and encouraged businesses to take advantage of the expo to expand their businesses beyond borders. He described the event as “A catalyst to support bilateral trade between Nigeria and Houston; and an opportunity for the Houston community and the diaspora to explore emerging trends, forge new partnerships and unlock new possibilities.” The Nigerian lender will, on Tuesday, October 24 and

More Stories

Nigerian Equities Open Week Strong as Bulls, Bears Battle for Control

By Dipo Olowookere Trading activities kicked off the new week on a positive note after the market upturned early losses to finish 0.51 percent higher. Business Post reports that during transactions on Monday, both the bulls and bears battled for supremacy, but the market eventually settled for the bulls, reversing the loss posted at the market’s last trading session. However, the volume and value of equities transacted by investors on the floor of the Nigerian Stock Exchange (NSE) depreciated by 47.62 percent and 55.74 percent respectively. A total of 730.6 million shares worth N6.3 billion exchanged hands today in 7,964


Court Authorises EFCC to Arrest Mobil Nigeria MD

By Modupe Gbadeyanka The Economic and Financial Crimes Commission (EFCC) has been given the permission to arrest the Managing Director of Mobil Oil Nigeria Plc (11 Plc), Mr Richard Laing, after he allegedly failed to honour invitations from the anti-graft agency. The EFCC, in a statement on Wednesday, disclosed that the authorisation for the arrest of Mr Liang was given by Justice Okon Abang of the Federal High Court sitting in Abuja. According to the commission, the application for a bench warrant on the ExxonMobil Nigeria chief was granted on Friday, January 29, 2021. The EFCC explained that three invitations


NAPTIP Gets New DG: Sulaiman-Ibrahim in, Okah-Donli Out

By Modupe Gbadeyanka The National Agency for the Prohibition of Trafficking in Persons (NAPTIP) now has a new Director-General, the presidency announced on Tuesday. A statement issued on Tuesday, December 1, 2020, in Abuja by the Senior Special Assistant to the President on Media and Publicity, Mr Garba Shehu, disclosed that President Muhammadu Buhari has approved the appointment of Mrs Imaan Sulaiman-Ibrahim. She was chosen to replace the present occupier of the position, Mrs Julie Okah-Donli, who has been in the position for a while and has taken the agency to enviable heights. The presidency in the statement said the


Sahara Group’s Short Film ‘Hanatu’ Premieres Friday

By Modupe Gbadeyanka Sahara Foundation, a scion of Sahara Group, will premiere its short film titled Hanatu on Friday, July 7, 2017, at Terra Kulture in Victoria Island, Lagos to a select audience. Thereafter, the film will be made available to the general public on Sahara’s website ( and social media platforms, several leading news websites and entertainment channels. Hanatu is a Sahara Foundation inspired short film shot by prolific Nigerian filmmaker, Mr Kunle Afolayan, which tells the story of how a young corps member named Preye helps a little girl (Hanatu) in a village rediscover her confidence and hope


Jumia Customers Get 70% off on Latest Tech Items

By Aduragbemi Omiyale Customers of Jumia, an e-commerce platform, will have the opportunity to enjoy up to 70 per cent discount on the latest tech items on sale on its website. The company confirmed that visitors to the platform will get cheap items from the world’s leading makers of TV sets, cameras, mobile phones, computers, video games and others. This would be made possible with the collaboration Jumia had with the different notable global gadget and electronic manufacturers such as Samsung, HP, Intel, Umidigi, and Xiaomi. A statement disclosed that the items would be available during the Jumia Tech Week


Concerns Grow as Nigeria’s Foreign Reserves Decrease to $38.3bn

By Dipo Olowookere **May Drop to $37bn in Few Days’ Time **Shed $4.5bn in 2019, $306m So Far in 2020 **Dangote Fears Devaluation Imminent **No Cause for Alarm—CBN Though the Central Bank of Nigeria (CBN) has said Nigerians should not panic over the gradual decline in the foreign reserves, observers have cautioned both the fiscal and monetary authorities not sleep with their eyes closed because it might spell doom for the country. This is because if the depletion of the reserves continues with the steady fall, the nation, which is Africa’s largest economy, may fall into another recession under the


Heifer Gathers Stakeholders to Discuss Youth Empowerment

By Ashemiriogwa Emmanuel Agribusiness firm, Heifer Nigeria, in partnership with the Nigerian Economic Summit Group (NESG), will hold a youth empowerment programme on Tuesday, October 26, 2021. The event is mainly to gather stakeholders in the agriculture sector to discuss how youth could be given the necessary support to succeed in the industry. The program, which is themed Youth and Technology: The Future of Africa’s Agriculture, will also serve as an avenue for key players to examine the various roles of youth and technology in the transformation and future of Nigeria’s agriculture. It will be held for two days at


Small Business Group Operations Centre Opens in Lagos

By Modupe Gbadeyanka The first Small Business Group (SBG) Operations Centre has been opened in Lagos, Nigeria by global tech giant, Facebook, in partnership with Teleperformance. The facility will provide outsourced support to all English-speaking advertisers across Sub-Saharan Africa through the Advocacy, Community & Education (ACE) programme, which aims to build engaged communities who are growing their businesses, organizations and communities through social media. A statement issued by the firm noted that the SMEs in this programme will have the opportunity to attend online trainings, and for those in Nigeria face-to-face trainings, that will focus on how to leverage mobile

Recent Stories

FG, States, Local Councils Get N1.1tn As September Allocation

By Adedapo Adesanya The Federation Account Allocation Committee (FAAC) has shared a total of N1.1 trillion from the revenue generated by the nation in August 2023 for September to enable the three tiers of government; the federal government, states, and local government councils, to have funds to pay salaries and others. The allocation of the funds was confirmed by the Office of the Accountant General of the Federation on Friday following FAAC’s September 2023 meeting. According to a statement by the OAGF’s Director of Press and Public Relations, Mr Bawa Mokwa, there was “N1100.101 billion (N1.1 trillion) total distributable revenue.”


Erisco Product Reviewer Fights Back, Threatens 500m Suit

By Bliss Okperan A lady who reviewed a product of Erisco Foods Limited, Nagiko Tomato Mix, Mrs Chioma Egodi, has threatened to demand the sum of N500 million from the chief executive of the company, Mr Eric Umeofia, for violating her fundamental human rights. Mrs Egodi said she purchased the product at the market with the intention of using it to cook stew for her family. However, when she tasted it, according to her, it tasted too much sugar, prompting her to post about it on Facebook. It was reported that Erisco was not happy with the negative review. She


Scoring Success: How Data Analytics Revolutionizes Football Predictions Strategies

Data analytics is transforming football predictions as tools and techniques are consistently being designed to enhance accuracy and precision in football betting. In this article, we uncover the huge impact of data analytics in football betting. The Power of Data in Football Predictions In football betting, data analytics is used to collect, analyse, and interpret data to make informed predictions. This includes several metrics, such as player stats, team performance, head-to-head results, and external factors like injuries, fatigue, and weather conditions. Data analytics in football predictions is useful in the following ways:  Transforming Raw Data to Useful Piece of Information


Alleged Assault: Manchester United Recall Anthony to Squad

By Dipo Olowookere Brazilian winger, Anthony, is now eligible to make the Manchester United squad again, a statement from the football club has disclosed. A few weeks ago, the footballer was suspended by the English sports outfit over allegations of assault in his home country. His former girlfriend, Rosilene Silva, accused the footballer of assaulting her, prompting the police in Brazil to launch an investigation into the claims. The police in the United Kingdom also took an interest in the matter, forcing the Old Trafford team to ask Anthony to stay away from the team. In an update on Friday,


How to Find The Best Marine Insurance Provider For You

For maritime businesses, the stakes are high, and the seas can be unpredictable. Whether you own a shipping fleet, operate a fishing company, or oversee marine logistics, safeguarding your assets with the right marine insurance is prudent. It’s also essential for the sustainability of your enterprise. Here are some tips for how to find the best marine insurance provider. By following these strategic steps, you can ensure your business remains afloat, even in the face of unforeseen challenges. 1. Assess Your Maritime Needs The first crucial step towards securing the ideal marine insurance provider is a comprehensive assessment of your


Abdullahi Atewe, Emmanuel Dairo to Relaunch Future Brand Idol

By Adedapo Adesanya After a two-year hiatus, the prestigious Future Brand Idol (FBI), an advertising contest, is making a return on a bigger scale following a new partnership with Forbes Black Member community member, Mr Emmanuel Dairo. The competition, which seeks to discover and breed young creative talents in Nigerian tertiary institutions, has created top talents who have gone to explore new grounds in their respective endeavours. Through this newly forged relationship, the founder of the contest, Mr Abdullahi Ahmed Atewe, and Mr Dairo will be seeking to expand the horizon of the challenge to offer more value. This will


Oyedele Clarifies Transfer of Funds for Tax Reform Committee

By Adedapo Adesanya The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Mr Taiwo Oyedele, has cleared the air regarding recent reports on the transfer of funds to the Joint Tax Board (JTB) by the Federal Inland Revenue Service (FIRS) under the erstwhile chairman, Mr Muhammad Nami, for the tax reform committee. In a statement on Friday, he revealed that N5 billion was paid to the board to fund activities of the team set up by President Bola Tinubu, noting that “The committee’s budget includes provisions for a national Data for Tax project which the JTB had been


Lagos Shuts Down Alaba Market

By Bliss Okperan The Lagos State Waste Management Authority (LAWMA) has announced the immediate closure of the popular spare parts market, Ladipo Market, over an “unhygienic environment.” In a statement on Friday, the waste management agency said it shut down the market due to the unwholesome environmental practices by traders who refused to pay for waste services alongside the poor waste management. The Commissioner for Environment and Water Resources in Lagos, Mr Tokunbo Wahab, said the market would remain closed until the mandatory conditions of redress have been met by traders and market stakeholders. “It is imperative that markets in


Delisting: Capital Hotels Opens Escrow Account to Pay Off Minority Investors

By Dipo Olowookere The board of Capital Hotels Plc has announced the creation of an escrow account for the payment of about N1.6 billion to minority shareholders of the company. The hospitality firm is leaving the Nigerian Exchange (NGX) Limited after years on the nation’s main stock exchange. In a notice signed by Alex Ugwuanyi, the organisation said the account was created with CardinalStone Registrars Limited and has been sufficiently funded for payment “to shareholders” who “have accepted to exit” the firm by selling their holdings. Recall that in March 2023, shareholders of Capital Hotels approved the request of the


VFD Group Quits NASD OTC Securities Exchange After Delisting

By Adedapo Adesanya VFD Group Plc has been officially delisted from the NASD Over-the-Counter (OTC) Securities Exchange months after the proprietary investment company revealed its intention to list its stocks on the Nigerian Exchange (NGX) Limited. The bourse on Thursday confirmed the development in a notice seen by Business Post. “Pursuant to the company’s request to delist from the NASD OTC Exchange, we wish to inform you that VFD Group PLC shares will be delisted with effect from the close of business (COB) today, Thursday, September 28, 2023,” the notice read. Last Friday, after three years of trading on the