My first ever experience of taking a loan from NEOXIAN BANK in steemit...

Good Day Everyone.....Its one of the happiest moment for me here in steemit and I may go to the extend of saying that it's an achievement/milestone in my journey with steemit. So I will share my experience today with this article.

After the debacle of a bot like bellyrub and investment bank like bellyrubbank, there is really some disspointment in the atmosphere of this beautiful community. This community is the first ever decentralized social networking site backed by a cryptocurrency called STEEM. The "decentralized concept" gives the absolute authority to a user. That's what makes it different from other and we all know when it gets backed with a cryptocurrency then a site like steemit becomes a revolution of modern era of social netwokring where you can en-cash your blogging skill with steem reward. That's the beauty of this platform. But some people run a bot like bellyrub along with bellyrubbank with an investment plan, with malign intention to first develop the trust and then turn out to be a scammer and run away with hard earned money of common man. But there are some people like @neoxian on the other hand putting every effort to help the victims of this scam. If you want to know the details you can visit the blog page of @neoxian.

Now coming to the main topic of discussion. While routing through the blog page of @neoxian I found that he is also offering loan services and it was really something to grab my attention, because I have had some plan since long but because of lack of financial resources I could not able to work on those.

Before considering the approval of loan, @neoxian does look at the following aspect :-

Age of the Account

The minimum age set by RUSTIC BANK OF NEOXIAN is 5 months. So who so ever is already 6 months old and looking for a loan is eligible to apply.

Reputation of the Account

The minimum reputation to be eligible for a loan is 58. We all know that, upto 50 reputation its somewhat easy and beyond 50 its really a tough task and takes a lot of time and effort persistently, so NEOXIAN Bank has set the minimum threshold as 58.

STEEM Power

We all know that the most important part of our STEEM Account is SP, which matters the most. So here in Neoxian Bank also its the SP which would decide the worth of your account and accordingly plays a vital role in deciding the amount of loan to be approved.

Quality of Post

Quality of a Post matter a lot. Its not about earning steem and sbd here in steemit rather with what content or quality you are earning SBD and/or STEEM. So NEOXIAN Bank has also some weightage for the "Quality of your Post" to decide on a loan amount.

It may please be noted that all the above four factors are taken into consideration by NEOXIAN Bank to decide the exact amount of loan to be disbursed. The collateral is your STEEM Account and its worth decides the amount of loan for subsequent approval.

Now there are two ways to get the loan. Either by showing your proof of Identity along with a introduce yourself post etc and the second option is being "Anonymous" and simply by giving the master key of your steem account and that master key will be changed by @neoxian and new "posting key" and "active key" will be generated and handed over to you for you account operation. However the main or master key will remain with @neoxian till the entire due is paid back. I am not going into detail of both the option as I availed the loan by second option (Anonymous). So I will be sharing this experience in this article. Those who wish to know in details of both the ways to get a loan can refer to the following link.

https://steemit.com/bank/@neoxian/bank-of-neoxian-increased-loan-requirements

Now coming to the topic of discussion. So I opted the second option to avail the loan, So I just approached @neoxian over discord chat, and was responded by him and he asked me some questions related to my loan. A "introduceyourself" post may be required at the time of asking for a loan to @neoxian and it is very likely that @neoxian will also ask you the purpose of the loan amount and the time frame of loan repayment and after getting satisfactory and convincing reply from the applicant, NEOXIAN Bank will further proceed to the next step which includes deciding the exact amount of loan and the tenure and accordingly the draft agreement will be made and given to the borrower.

Then the borrower needs to read that and after giving the consent to the loan agreement it will be posted in the main blog page of @neoxian and finally the borrower needs to sign it and then the Master Key of STEEM Account is handed over to @neoxian. The new "posting key" and "active key" will be given back to the borrower for normal account operation and the "master key" shall be retained by @neoxian till the final settlement. The loan amount is usually disbursed immediately after the hand over of "master key".

For a person like me, this journey has been so sweet and it became sweetest ever after getting a loan of 100 SBD. We all know that SBD has been trading insanely bullish these days. And at the time of getting 100 SBD its value was 5.65 usd per SBD. So I got 565 USD worth of SBD in total. Thats really a huge amount for a minnow like me. Here one thing I would like to reiterate that its not just STEEM for which we are here, there are so many passive aspects which counts to our STEEM account. See....we look at our reputation as a mere number but now see it has turned out to be a criteria for me to get a loan at a time when I needed it the most. Its the quality content which counts a lot to set the impression at first sight. Its the age of the account, that means how active your are, how persistent your are in your engagement with this community. there many not be any direct reward from all these aspects, but all these factors really have that passive effect to our account and it pays at some point of time. And I am feeling those aspects count in my loan approval from NEOXIAN BANK.

I am really grateful to you @neoxian for helping me at such a time, when I needed it the most, you dont know I belong to a region where even a 100 usd loan looks like a peaked Everest. At this point of time I am really considering my STEEM Account as one of the valuable asset in the journey of my life.

Conclusion

While we have this excellent development in the form of NEOXIAN BANK in this community which is there to help needy people and people like me can avail this loan with their STEEM Account as collateral. At the same time I do consider that, if you are needy then only take this loan, if you have a specific plan then only take this loan, dont take a risky call, dont get into a speculative investment. There are number of safe and productive ways to utilize this valuable loan. Not to forget if you are getting this loan then its not just a payday loan, its the result of the hard work of your past 6 months, so dont ruin those hard effort.

So it is equally important for the borrowers to develop a healthy environment by taking loan, spending it judiciously and then returning the same to the lender on or before time. This way not only you build a healthy environment, but also you are gaining reputation of good credit score and trustworthiness further enhances from both sides, there by making the ecosystem healthy.

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Disclaimer

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While a borrower can apply for a loan in NEOXIAN BANK in line with set guidelines by @neoxian, it should be understood that the final authority and approval lies with @neoxian only and he may approve/reject a loan application without explaining further the reason for rejection. I just shared my story and understanding of getting the loan from NEOXIAN BANK and for any further details or information you should contact @neoxian over discord chat.

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Follow : @sthitaprajna

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