Money
What a $5900 stock loan actually costs in Harare — every lender, every fee
Every lender in this city will tell you their rate. Almost none will tell you their price. Those are different numbers, and the gap between them is where borrowers get hurt.
| Lender | Stated rate | Hidden fees | True cost | Time to cash |
|---|---|---|---|---|
| Commercial bank | 9%/yr | $45 admin + collateral | $49 | 3–6 weeks |
| Microfinance | 15%/mo | $25 "processing" | $100 | 1–2 weeks |
| Street lender | "20%" | unwritten penalties | $100–180 ? | same day |
Read the true-cost column twice. The bank is cheapest on paper and useless in practice — if you had the collateral and six weeks to wait, you wouldn't need the loan.
The receipt: a loan's real price = interest + every fee + every day you wait for the cash. Any lender who won't answer all three in writing is the expensive one.