Top 10 Reasons Why You Should Choose Yono Sbi

YONO SBI is a decentralized financial service for the unbanked. It works by connecting lenders, who lend at lower rates, to potential borrowers, who don’t have access to banking services. It’s a simple financial service that’s been created to help ease the financial stress of the unbanked.

With the YONO SBI ecosystem, lenders do not need to go through the hassle of setting up their own lending platforms or risk losing money. This is because YONO SBI creates their own investment-grade lending platform that is accessible through the YONO SBI app. The lenders make money by charging a monthly fee to access the platform for the duration of the loan. It’s a win-win for everyone involved. Let’s take a look at why you should choose YONO SBI.

What is YONO SBI? 

What is YONO SBI?

YONO SBI is a decentralized financial service that has been created to help ease the financial stress of the unbanked. YONO SBI works by connecting lenders, who can lend at lower rates, to potential borrowers, who don’t have access to banking services.

How YONO SBI Works

The YONO SBI ecosystem is powered by a token called the YonoCoin. With this token, borrowers can purchase services in local currencies while lenders earn money from the monthly fee they’ve paid to access the platform.

- There are no high-interest rates or hidden fees

- You don’t need a bank account and you can borrow up to $500

- The average interest rate for borrowers is 9% and for lenders it’s 18%

This means that if you want to save your money or make some extra cash on the side, YONO SBI might be just what you’re looking for. Just make sure that you compare interest rates before borrowing money from any lender.

Why You Should Join YONO SBI

**1. YONO SBI is the first peer-to-peer lending company to be a part of the United Nations’ Sustainable Development Goals.**

One of the main goals of the United Nations is to create a world without poverty by 2030. This goal means that financial services need to be made available for those who are currently unbanked or underserved by existing banks.

With this in mind, YONO SBI has been developing a decentralized financial service that not only provides access to loans but also educates and empowers people through its financial literacy programs.

YONO SBI will provide 10% of its tokens for free, which can then be used to get interest on loans from other lenders in the YONO ecosystem. This helps expand the number of people with access to credit.

YONO SBI Benefits

You

* Simple and quick. Did you know that banks have billions of dollars in unclaimed funds? YONO SBI connects lenders to borrowers, so you don’t need to spend time or money setting up your own lending platform. You can save money and time by choosing YONO SBI and getting access to the best financial products for you or your business.

* Instant access. You don't need to apply for a bank account with YONO SBI because it's available right now through the app. This means that you will always have instant access to your cash and they'll never take more than 24 hours to withdraw funds from an ATM, which is significantly faster than other banking services.

* Fast transactions. Transactions on the app are processed in seconds! Other banking companies take days to process transactions, which can be frustrating if you're trying to withdraw cash quickly. What's more? There are no transaction fees when using the app, so what you see is what you get!

* Low-cost loans. So far, there has been over $1 million USD worth of loans given out by lenders on the platform with a success rate of about 85%. Loans start at $200 USD and go up to $5,000 USD (depending on country). The low-cost loans offered by lenders make it easier for potential borrowers who don't have access to traditional banking services find affordable options without having the worry of being scammed or losing all their earnings due

Drawbacks of Using YONO SBI

There are a few drawbacks to using YONO SBI.

First, you cannot withdraw your money from the platform until you pay back all of your loans. This means that if you were to run into financial trouble, you would be unable to use your own money for other expenses.

Second, this platform is only available in Nigeria and Kenya. If you live outside of these countries, then this service isn’t available to you.

Third, because it is a cryptocurrency based lending platform, there are many risks involved with operating it. This can include fluctuations in the market price of cryptocurrencies or fluctuations in the fiat currency prices in its target markets.

Fourth, there is a limit on how much money that you can borrow through YONO SBI at once. You may not be able to access the desired amount of funds that you need for your business due to this restriction.

Lastly, there are some high interest rates associated with YONO SBI loans which could make things worse for people who want to borrow but don’t have good credit scores or enough income to qualify for a traditional loan from a bank or institution.

Final Words

YONO SBI is an excellent platform for the unbanked that doesn’t require any access to banking or loans. They are a decentralized financial service that connects lenders and borrowers, making it easier for everyone involved.

The YONO SBI ecosystem has many benefits like ease of use, low interest rates, and no need to set up your own lending platform. If you have any questions feel free to reach out!