Indian Expat life in Philipines

Hello Payaljain; I am Filipino.
I saw the reply above. It was before a nice idea but please note and check the below link regarding the five-six business.

http://www.philstar.com/headlines/2016/ … s-down-5-6http://www.philstar.com/headlines/2016/ … ing-scheme

You can start other business and wish your plan to be ok!

I must confess, I had not heard of the 5 - 6 scheme before reading the post on here. It seems to me to be loan sharking, exploiting of the less well off and now I see it is also illegal.
20% interest over 40 days!

Yeah you are right, my own family also experienced and took this offer as we don't have any choice.
But now I am happy we were able to be free from this.
Still I am thankful to this scheme as I was able to finish my college degree and now I am working abroad.

he will find plenty of his countryman here in every part of the philippines

5-6 is 20% 1 day to one week dont know where u got the 20% for 40 days from but its incorrect

from 5 borrowed to 6 repaid. That is interest of 1 on 5, ie one fifth. One fifth is 20%. The post said repayment within 40 days (unless I read that wrong) so 20% over 40 days. Straightforwards maths