The "Credit Trap" Calculator

LIVE AUDIT

Type in a loan amount below to see the real cost of debt.

Loan Amount (₦)

Annual Rate (%)

Duration (Months)

Monthly Deduction

₦80,523

Total Paid to Bank

₦2,898,828

Truth: You are paying ₦898,828 in pure interest.

Standard bank amortization math: monthly deduction, total repayment, and total interest on any loan. The Nigerian economy is quietly mutating. We are leaving the era of 'Cash-and-Carry' and entering the American model of 'Buy Now, Pay Forever.' It promises a better life today, but at what cost?

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