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THE EFFECT OF INTEREST RATE ON LOAN REPAYMENT IN MICRO FINANCE BANKS IN NIGERIA

  • Type:Project
  • Chapters:5
  • Pages:54
  • Format:Microsoft Word
(Banking and Finance Project Topics & Materials)

THE EFFECT OF INTEREST RATE ON LOAN REPAYMENT IN MICRO FINANCE BANKS IN NIGERIA

ABSTRACT

The study sought to appraise the effect of interest rate on loan repayment in microfinance institutions. Stanford Micro Finance Bank, a microfinance institution in uyo was used as a case study for the study. The research was conducted using questionnaires and interviews. In all 100 customers and 20 employees were sampled for the research. The SPSS software was used to analyse the data for the research. A systematic random sampling was used for the data collection. The findings of the research revealed that though interest rate plays a major role in loan repayment, other factors such as loan term and the repayment frequency also influence to a large extent the loan repayment. Customers indicated that though lower interest rate would enhance loan repayment, the issue of accessibility and availability of funds was paramount. To enhance loan repayment, the researcher recommends lower interest rate to ease loan repayment burden and loans granted should be amounts that customers can service. Again, micro-insurance could be established to protect the Institution and customers against any default

THE EFFECT OF INTEREST RATE ON LOAN REPAYMENT IN MICRO FINANCE BANKS IN NIGERIA

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Details

Type Project
Department Banking and Finance
Project ID BFN0599
Price ₦3,000 ($9)
Chapters 5 Chapters
No of Pages 54 Pages
Format Microsoft Word

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    Details

    Type Project
    Department Banking and Finance
    Project ID BFN0599
    Price ₦3,000 ($9)
    Chapters 5 Chapters
    No of Pages 54 Pages
    Format Microsoft Word

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