CASHCAT -Interest Rate!

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Interest RATE

Below is an example of calculation:
If the loan is equal to 4.000 PHP, the credit use fee will amount to 60 per day, which is approximately 1.5% per day, with the APR being 547.5%. The company lends money to its customers based on the contract valid till December 31 2020. The customer can receive a loan for an unlimited period, provided that payments are submitted every 7 or 14 days, at the discretion of the customer. Financial liability of the Credit User in case of failing to meet an obligation towards the financial partner is listed below:

- The process of the enforcement of debt may be initiated, with the possibility of the debt cession to the Third Party;
- In case of an outstanding payment, a compulsory overdue interest of 2 % of the credit amount for each overdue day is applied. An outstanding payment is starting from the first overdue day up to the moment of the loan redemption and settling the drawdown charge.
The conditions of the rescheduled loan are as follows: The Credit User is eligible for extending the loan period after paying the above-mentioned fees for the use. The minimum due term is 1 day, and the maximum due term (under terms of the contract) is up to December 31 2020.
Failure to meet the obligations towards the financial partner may have a negative impact on the credit history of the Credit User, as well as may affect their credit rating, which, in turn, may be the reason of service denial by both the Partner and the Third Parties.

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