There are multiple fees that may be deducted from the disbursed amount. Here are the breakdown of fees that may be included:
Loan Facilitation Fee: 0% - 10%
Interest: 0% - 6% (based on loan amount)
Late fee: 5% per month on overdue principal
For example, if you request a ₱1,000 loan over 28 days:
Loan Facilitation Fee: 3%/month (flat)
Interest: 2%/month (flat)
Your receiving disbursement amount will be:
₱1,000
Your repayment amount will be:
(₱1,000 +₱1,000*2%*1 + ₱1,000*3%*1)/1 = ₱1,050
Transparency matters to us. All fees will be clearly displayed in your Repayment Plan and Loan Agreement before confirmation.