1月17日的Icon PayEx应用程序分析

Icon Venture Capital's PayEx is a microlending app which allows users to apply for a micro loan (RM3,000 to RM5,000) with a comfortable repayment schedule up to 5 years. Fees & Charges: Minimum duration of payment: 48 months Maximum repayment period: 60 months Max. Annual Percentage Rate (APR): 15% Processing Fee (Includes Legal Fee, Stamp Fee, and Service Fee): 1. Stamp Duty: 0.5% on loan amount, 2. Admin Fee of RM43.20 (inclusive of 8% SST) Both stamp duty and admin fee will be incurred upon first loan repayment. Early Termination Fee: Customer will be charging a penalty at 12 months interest for early settlement. Late Payment Interest: 8.00% per annum * number of overdue days Late payment penalty is applied in next repayment invoice if repayment is not done within 7 calendar days from date of repayment schedule. Calculation of the Loan Loan Example: Loan Amount: RM3,000.00 Tenure: 5 years Interest Rate: 15.00% Total payable: Loan + Total interest amount RM3,000 + RM2,250 = RM5,250 to be paid over 5 years Monthly repayment: Total payable/tenure(months) RM5,250/60 months = RM87.50 per month ------------------------------------------------------------------------------------ Late Payment charge example: Repayment schedule on 1st January but payment was only made on 8th January. Late payment charge will be added in next repayment invoice (February). Calculation: Monthly repayment amount + (overdue repayment amount * 8%/365 * number of days late) RM87.50 + ((RM87.50*8%)/365)*7 days = RM87.63