How do I compute my Cash Loan interest?
To compute your loan interest, you will need the following:
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Loan amount (₱) – for example: ₱10,000
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Loan term (t) – for example: 12 months
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Monthly interest rate (r) - From 1.5% to 7% per month
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Origination fee rate - There is an origination fee up to 16.6% of the approved loan amount. The final amount depends on the review of your application. Note that we will add the fees on top of the approved loan amount instead of subtracting. This means you’ll get the full approved loan and pay the fees over time, boss.
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Late payment fee (if applicable) - ₱500 or 5% of financed amount of loan (whichever is lower). Charged every due date until the overdue amount is paid