servicash 1.2.8

Annual Percentage Rate (APR) Range: minimum 12% - maximum 30%

Loan product term: 91-365 days

Loan interest calculation formula: interest = loan amount * loan interest rate / 365 (days) * loan term (days)

• Loan examples:
• If you select a loan product with a principal amount of 10,000 pesos, a loan term of 120 days, and an annual interest rate of 12%.
• Calculation of the amount owed:
  • 10,000 x 0.03% = 3 pesos/day
  • 3 x 30 = 90 pesos/month
  • Total interest accrued at the maturity of 120 days: 90 x 4 = 360 pesos
  • Monthly payment amount 10,000 / 4 + 90 = 2590 pesos
  • When the loan matures at 120 days, the total amount of principal and interest is 10,000 + 360 = 10,360 pesos.