Loan Applicant Requirement:
* Age between 20 to 60
* Uganda Citizenship
The Loan App offer:
* Loan Amount: Ugx60,000 - Ugx 400,000
* Loan Term: 91 - 365 days
* Interest rate: 0%
* APR: Min.15% - Max. 52%
If the loan amount is UGX160,000, the loan term is 180days, and the APR is 50%, the total service fee should be UGX160,000 * 50%/2 = UGX40,000.
The total amount must be paid: 160,000+160,000*50%/2=UGX200,000
For one-time repayment: Pay UGX200,000 after 180 days.
For monthly repayment: your monthly repayment amount will be UGX200,000/6 = UGX33,333.33
Loan principal: UGX160,000 (180 days)
Loan fee(total fee of the loan): UGX40,000 (25% rate)
Total amount payable: UGX200,000