As required By BDL, the APR Calculation and definitions below must be presented as a Personal Loan illustration.
The annual percentage rate (APR) is the amount of interest, insurance, and fees on your total loan amount that you’ll pay annually (averaged over the full term of the loan).
The APR includes, in addition to interest, all mandatory fees to be paid, such as Life insurance, stamps and file fees.
APR Calculation Example:
Net Loan Amount: 21,000,000
Loan Period (Years): 6
Interest rate: 12%
Monthly payment: 422,000
The interest rate and APR will vary depending on applicant’s segment and activity sector
*Annual Percentage Rate
The settlement of monthly payments will be executed through one of the available accounts (i.e. Blink account, Winner account, salary domiciliation or other if available).
The monthly fees of the Settlement Account (for example 3$ for a Blink account) are not taken into consideration in the typical APR calculation.
* Free life insurance for the first year, applicable on all loans of 4, 5 or 6 years
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