As the inflation in the country bites harder, MTN has quickly joined the bandwagon by increasing the interest rate of their extra-time (borrow me) credit service by 50%.
And don’t get it twisted immediately when we say “by” 50% increment of the former 10% interest rate.
As what that simply entails is that MTN increased extra-time interest rate from 10% to 15%, which amounts to 50% increment.
For example if you borrow N100 MTN airtime and want to pay back, instead of MTN deducting N10 from your subsequent recharge as interest, N15 will be deducted.
This latest development coming from MTN is expected to take effect from the 11th of this month, where all MTN subscribers who are Extra-time worthy will start repaying their borrowed airtime at in interest rate of 15%.
Remember, you can use code *606# at any time to access your MTN extra-time eligibility status and to borrow airtime.
And don’t get it twisted immediately when we say “by” 50% increment of the former 10% interest rate.
As what that simply entails is that MTN increased extra-time interest rate from 10% to 15%, which amounts to 50% increment.
For example if you borrow N100 MTN airtime and want to pay back, instead of MTN deducting N10 from your subsequent recharge as interest, N15 will be deducted.
This latest development coming from MTN is expected to take effect from the 11th of this month, where all MTN subscribers who are Extra-time worthy will start repaying their borrowed airtime at in interest rate of 15%.
Remember, you can use code *606# at any time to access your MTN extra-time eligibility status and to borrow airtime.