Your total monthly loan billing is made up of the following:
Principal Amount Due
- The repayment of the original amount you borrowed.
- The interest you pay for the loan you applied for. For loans payable in 14 days, the interest fee is set at 0% while for loans payable in 5, 9, 12, 15, 18, and 24 months, interest fees range from 1.59% to 6.57% per month.
- The fees you need to pay if you missed a due date. This includes 1% of the loan amount, plus 0.15% of your total outstanding principal balance that will be charged per day that you are unable to pay your monthly billing.
- The sum of all your previous dues that you have missed to pay.
- This includes processing and late fees.