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7 Reasons You Should Definitely Opt For A Debt Consolidation Loan



7 Reasons You Should Definitely Opt For A Debt Consolidation Loan

Are you straddled with multiple debts and struggling to make your repayments on time? Maybe you have a super busy schedule and can’t seem to keep track of various credit card EMIs. If so, a debt consolidation loan may be just what you’re looking for!

Having various debts can have a negative impact on your credit score and when you fail to make repayments, you risk getting blacklisted by lenders. A debt consolidation loan is a smart way to manage your finances and make sure you stay on track. By transferring all your existing debts into a single big loan and the pending balances, you also end up getting more time to pay back. Here are 7 reasons why you should opt for a debt consolidation loan along with the various benefits:

1. It’s Completely Online

Maybe you’ve heard stories about sitting down with credit counseling services and having a word with them when applying for a debt consolidation loan. Paying debts comes with its own set of challenges and jumping through many hoops to get a loan amount disbursed may feel daunting. These days the process has been made easier.

Consumers can apply for debt consolidation loans online and get the desired amount they need. Agencies and credit lending organisations have made the whole process paperless, which means you can apply for a new loan at your fingertips. Just make sure you’ve got your KYC documents and ID proof ready and you’ll be good to go.

2. Enjoy Lower Interest Rates

Let’s say you’ve got two debts which have an interest rate of 12% and 10% each with different repayment tenures. With a debt consolidation loan, you can combine them into a single EMI payment and get a flat interest rate. You don’t have to worry about paying two interest rates and in this way, save money on your interest.

Credit card companies and organisations provide lucrative interest rate offers for debt consolidation for borrowers who demonstrate sufficient creditworthiness and have a good CIBIL rating. It’s that simple.

3. Longer Repayment Tenures

Borrowers have a tough time paying back multiple debts when they’re always on the edge. Keeping track of repayments, missing reminders, and defaulting on timelines can lead to consequences. Debt consolidation loans take all the pending dues and transfer the balance into single EMI monthly EMIs. The tenure is longer for repayment since borrowers are consolidating debts from multiple sources. Higher-priority debts are cleared off first with lower-level interest rate debts being at the bottom of the list.

The lender you’re taking a debt consolidation loan through is usually in charge of arranging the order of clearance for all your existing debts. In short, you get more time to pay off your other loans with a single big loan and don’t worry about having to communicate with multiple individual lenders.

4. May Improve Your CIBIL Score

If you take out a debt consolidation loan for clearing off your pending debts, you can give your CIBIL score a nice boost down the line. That’s because these loans are treated just like personal loans by CIBIL and logged in their database.

When you make timely repayments and clear your dues early, your credit utilisation ratio dramatically decreases. You might experience a small drop in your credit rating when taking out a debt consolidation loan but this is offset later when you make early repayments. Many financial institutions and companies give lucrative loan offers to individuals who pay off their debt consolidation loans quicker. If you’re thinking of taking other types of loans like car loans, gold loans, or home loans in the future, it’ll be a lot easier to get your application approved due to your higher CIBIL score.

5. Clear Off Debts Sooner

When you club your payments together into single EMIs, it’s a lot easier to keep track of the overall amount. Due to the lower interest rate and flexible EMI tenure, you may find that you clear off your debts sooner. It’s not uncommon for borrowers to find two or three debts that last for 5 to 6 years see them get cleared in about 4 years since they get more time to pay back the individual principal amounts through debt consolidation. Overall, it’s a win-win for lenders and borrowers since it makes financial management easy.

6. Less Emotional Stress

You don’t have to stay up all night worrying about whether you missed another payment. There’s less psychological pressure when you go for debt consolidation. Borrowers don’t have to think about following up with multiple lenders. All this equates to lower stress levels which improve your overall productivity later on. By taking control of your finances and adding structure to your repayments, you make the process of clearing off multiple debts easier. The lower your emotional stress, the better decisions you can make about your finances too.

7. Can Use Them For Any Reason

One of the perks of these loans is that you can take out money to pay off any kind of debt. You can combine your education loan and credit card bills together into a single debt consolidation loan.

If you’d like a debt consolidation loan for clearing off any pending payments for your Amazon EMIs, you can do that too. Just keep in mind that your credit bracket will be influenced by your CIBIL Score.  If you already have a good credit profile, taking a debt consolidation loan will let you enjoy lower interest rates and give you extra time to pay them back. This means more room for spending money on the things you want which can be freeing in a way. As long as your finances are in check, you’ll find they offer you greater flexibility.


If you’re thinking of applying for a debt consultation loan but still not sure, you can talk to a financial advisor. Sometimes borrowers require extra time to clear off debts and it’s not a matter of running out of money. Debt consolidation loans are available to both salaried and self-employed individuals. As long as you are a resident of India and have the proper documentation, you can apply for one online.

The process for disbursing a debt consolidation can take between 2 to 4 business days depending on your credit rating and financial profile. The key requirement most lenders look for in applicants is proof of creditworthiness, so make sure you have proof of stable income and your bank statements in hand before applying.

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How to Convert Itunes, Amazon and Steam Cards to Naira



Gift Card - Investors King

As gift cards keep gaining popularity grounds in Nigeria, Amazon, iTunes, and stream cards continue to lead the race as the most popular gift cards. In this article, a detailed but concise study on these gift card types will be given including the platform on which they can all be converted to naira.

iTunes gift cards

 An iTunes gift card is a prepaid money-value card that is used to purchase software Apple products like music, movies, apps, and lots more. It can be purchased easily on Astro Africa.

Amazon gift cards

Amazon gift cards continue to gain popularity because they are not restricted to only Amazon website but can also be redeemed in stores permitted by Amazon. Amazon is the world’s largest e-commerce company, where consumers are can buy/sell a wide variety of products both online and offline. Its gift card can be used to purchase anything on the Amazon website or traded for cash on Astro Africa.

Steam gift cards

Steam is a platform through which video games can be distributed digitally and it was created by Valve. Steam gift cards are usually converted into Steam credit so that players can use those credits to purchase game content. Buy/sell Steam gift cards for cash on Astro Africa at the best rate.

Trade your iTunes, Amazon and steam gift cards on Astro Africa

The best decision you can make with your gift cards now is to convert them to cash on Astro Africa. Astro Africa is not one of those gift cards platforms that offers low exchange rates to its customer.

Better still, Astro Africa makes sure that by the time customers are done trading, they are all smiling home because of the huge amount of profits that they’ve acquired. This is as a result of the fact that Astro Africa sells above 80% of the gift card’s original value when it’s converted to naira. To calculate the current rate of all your gift cards check out Astro Africa gift card rates calculator.

Making a huge profit from trading your gift cards is a tip of the iceberg of what you stand to gain from trading with Astro Africa.

Other features of Astro Africa are listed below.

Instant payment: Trade your iTunes, Amazon, and Steam gift cards on Astro Africa and get paid instantly. No delay in payment at all except in cases of network issues.

Referral bonuses: Immediately you open an account with Astro Africa, you’re given a unique referral code that consists of 10 alphanumeric digits. With the referral code, you can invite your friends and family to come trade with Astro Africa. When they do, you’re given a reward of 500 naira for each referral that trades. Interesting right? Just another way to make money off Astro Africa if you ask me.

To ensure that you’re paid your referral bonuses, make sure whoever you refer fills in your referral code in the referral code column when signing up.

Security: Cybersecurity is a very important feature of any digital platform and Astro Africa understands this. That is why they invested so much in ensuring the website and app is well secured and immune to the wiles of internet hackers. Even more, your card details are 100% protected from rippers.

24/7 customer service: It is through a responsive network of customer support that Astro Africa have been able to build the trust of its customers. Any issue relating to using the platform can be reported via Whatsapp, web, or the app, and a solution is provided immediately by customer service.

User-friendly: Both tech-savvy and non-tech savvy individuals can easily navigate the Astro Africa platform. It is user-friendly and intuitive in its entirety.

The android mobile app can be downloaded from Google PlayStore or visit

If you want to convert your iTunes, Amazon, and Steam gift cards to naira on Astro Africa, these are the steps to follow.

  1. Log on to or download the android mobile app here.
  2. For existing users, click on log in and fill in your details. For new users, click on sign in and fill in all necessary information.
  3. Click on sell gift cards.
  4. Select the type of card you want to sell.
  5. Select card wallet to credit as NGN and preferred card category.
  6. Input card amount, upload the image of the card and enter image remark.
  7. Click on submit. Immediately your transaction is confirmed, your local currency account will be credited.

Frequently asked questions

Does Astro Africa charge for P2P transfers?

The answer is a straight NO! There are no hidden charges with Astro Africa, only seamless transactions.

What other way can I earn on Astro Africa?

Another way to earn from Astro Africa is through referral bonuses. All you have to do is refer your friends and voila! Astro Africa will pay (500 naira person) you for the number of people you refer. Just imagine referring 10 persons, that is earning 5,000 naira without any hard labor. Amazing right? Login to to get started.

How do I add my bank account on Astro Africa?

  1. Kindly visit the website or download the mobile app here.
  2. Login to your account.
  3. Click on add account/Momo
  4. Scroll down to select the account type.
  5. Fill in bank details and then click on save.

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Should You Consider Alternative Investments?



Foreign investment inflow

 There’s no doubt that the coronavirus caused a seismic shock to the world’s financial markets, with the stock markets experiencing several peaks and troughs through 2020 and the first half of this year.

Even fixed-income bonds saw their value decline over the course of the last 18 months or so, creating a rising demand for so-called “alternative investments” across a wide range of asset classes.

But what are the most common types of alternative assets, and which options are right for you? Let’s find out!

  1. Private Equity

We’ll start with private equity, which is a relatively diverse and broad category that refers to a capital investment made into privately listed commercial entities.

Similarly, it may include businesses that aren’t currently listed on a public exchange like the FTSE 100 or the New York Stock Exchange, while there are several subsets included within this category.

Venture capital focuses on startup, small cap and early stage ventures, for example, while growth capital investments enables more mature companies to expand and restructure over time.

Often, the viability of this investment vehicle is determined by the relationship between the investor firm and the recipient of capital, while it’s important to select a subset that suits your risk profile and existing capital holdings.

  1. Real Estate

Real estate represents a long-term and tangible investment option, and one that can be leveraged in numerous ways in the current marketplace.

From a broader perspective, there are multiple assets that may be included within this investment subset, including land, farmland and even intellectual property such as artwork.

This creates a diverse range of investment options, with real estate arguably serving as one of the most lucrative and generative entities within this subset.

Not only is real estate one of the largest alternative investments by the measure of value, but it’s also similar to fixed-income products like bonds. This is because property owners can leverage their assets to secure currency cash flow in the form of rental yields, rather than simply buying homes and preparing them for resale.

  1. Commodities

Commodities remain the most popular and well-known type of alternative investment, and one that’s often leveraged by traders when they receive a free trading bonus as part of their new account.

Commodities are certainly a diverse and accessible asset class, which includes options such as natural resources (like gas, coal and oil), precious metals, iron ore and agricultural produce.

Commodities can either be held as tangible assets or as derivatives, while they’re widely utilised by experienced investors as a viable hedge against inflation. This is because they’re not that sensitive to public equity markets, making them a key component of any truly diversified portfolio.

However, commodities are slightly volatile and at the mercy of the basic principles of supply and demand, leading to higher potential profits and losses depending on how the market in question performs.

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The Rise of Smartphones in Nigeria



Social media - Investors King

Nigeria is the country with the largest economy and population in Africa. Its population is primarily young and as is repeated the world over, it is that demographic which drives forward the uptake of technology. Mobile phone user numbers are around some 170 million people. Yet, when we talk about smartphones, the numbers drop to about a third to some 56 million.

However, those numbers are expected to improve in the near future. Some specialists and commentators expect there to be some 76 million users by 2023 if the uptake continues its upward curve. By 2025, projected numbers will in all probability reach some 140 million. What could be the impact of such growth, allied with the deployment of 5G technology?

Doors Opened by Technology

A smartphone never comes alone – it has a ‘symbiotic’ relationship with the tech which enables connectivity to the outside world. With the rise of mobile devices also comes the increase in mobile internet usage. According to recent research, mobile broadband penetration directly impacts the country’s economy. A mere 10% increase in internet coverage can increase a country’s GDP up to 2.8%. Between users placing a bet online to e-commerce, online shopping and streaming series as well as using mobile devices for work, many people now spend most of their time online via their mobile devices.

Nigeria is a perfect place for internet entrepreneurship, primarily as a result of its young demographics and rising smartphone ownership. The device is often used for job search, researching supply chains and putting new businesses online. Mobile gambling is also very popular in the country. Nigerians can bet on online casinos and sportsbooks quite legally, either on platforms based in the country or abroad. In fact, Nigerians spend over 730 billion annually.

Political Impacts

Smartphones and mobile internet have been playing a vital role in demonstrations worldwide. Protestors, armed with their phones, could live stream the events. There are abundant records of police brutality and vandalism. The Arab Spring or Euro Maidan are recent examples of this usage.

In Nigeria, movements like #ENDSARS, #occupynigeria, and #Stoprobbingus were made possible via mobile internet. During the 2019 elections, message apps like WhatsApp were used as means to spread political agenda.

5G Deployment5G - Investors King

Nigeria was the first country to start the trials for the implementation of 5G technology. Still, it wasn’t the first to put it in place: South Africa and Kenya came first. The 5G internet has enormous potential. Indeed, many experts believe it will start another industrial revolution. A much faster internet can provide the basis for developing Artificial Intelligence (AI) and the Internet of Things (IoT).

4G was already an impressive improvement over the previous version. Still, 5G connection can be about 100 times faster than 4G. Additionally, 5G has a low latency rate, which means that information travels much faster between devices. Smartphones will play a vital role in the 5G penetration too. Many devices still aren’t ready to support it. Besides, 4G only now took dominance in the country.

Political Roadblocks

5G had to be approved by the Nigerian Senate. The approval came in 2019 after trials conducted by Ericsson and MTN. Yet, a Joint Commission had to be created to dispel fake news and abstruse conspiracy theories. The legal battle was won. The Nigerian Communication Satellite is already relocating one of its satellites.


The growth of smartphone ownership in Nigeria is set to change people’s lives. Better devices and better connectivity impact society not only economically but also politically. The popularization of 5G depends on the popularization of compatible mobile phones.


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