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Loan Details:
- Loan product information:
- Loan Amount: 5,000 - 300,000 Sri Lanka Rupees
- Loan Term: Minimum 91 days, Maximum 180 days
- APR Loan Calculation Details:
The loan amount is 300,000 Sri Lanka Rupees, and the loan term is one year. Total interest: 18% × 300,000 Sri Lanka Rupees = 54,000 Sri Lanka Rupees
Total repayment amount: 300,000 Sri Lanka Rupees + 54,000 Sri Lanka Rupees = 354,000 Sri Lanka Rupees
- Daily interest rate: 18% / 365 days = 0.0493%
- Service fees, handling fees, and other expenses: 0 Sri Lanka Rupees
- CreditGo loan product example:
- Loan amount: 300,000 Sri Lanka Rupees, loan term: 180 days, annual interest rate: 18%
- Total interest charge: 0.0493% × 300,000 Sri Lanka Rupees × 180 = 26,230 Sri Lanka Rupees
- Total repayment amount: 300,000 Sri Lanka Rupees + 26,230 = 326,230 Sri Lanka Rupees