12月21日的EMLoan应用程序分析

Express Mortgage & Loan Sdn Bhd is a microlending app which allows users to apply for a micro loan (RM1,000 to RM10,000) with a comfortable repayment schedule up to 5 years. Fees & Charges: Minimum duration of payment: 6 months Maximum repayment period: 60 months Max. Annual Percentage Rate (APR): 18% Processing Fee (Includes Legal Fee, Stamp Fee, and Service Fee): 1. Stamp Duty: 0.5% on loan amount, 2. Legal Fees: 7.5% on loan amount (including of 6% SST), 3. Insurance Fee: RM15 per year based on the repayment period of apply (if not enough 1 year, count as 1 year) Both stamp duty, legal fees and insurance fee will be incurred upon first loan repayment. Early Termination Fee: We do not charge any early termination fee but customer will not get the deduction of the interest and total payable of loan. Late Payment Fee: RM50 per every time of late payment. Late payment penalty is applied in the next repayment invoice if repayment is not done within 7 calendar days from the date of repayment schedule. Calculation of the Loan Loan Example: Loan Amount: RM3,000.00 Tenure: 3 years Interest Rate: 18.00% p.a. Total payable: Loan + Total interest amount RM3,000 + RM1,620 = RM4,620 to be paid over 3 years Monthly repayment: Total payable/tenure (months) RM4,620/36 months = RM128.33 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 + (late payment fee* how many times of late payment) RM128.33 + (RM50)*1 = RM178.33