loans za faulu

[bei]

Whats the catch na hizi loans za faulu.iko mtu amechukua moja atueleze kama iko some hidden charges.

 

[caitlin]

personaly. i dont think so...

 

[bei]

Well i found out, its this way assuming you take a loan of 100k with Faulu and after 5 months you have paid 50k, the original 100k is what the rate of 9.5% will be applied, as opposed to banks that would charge interest on the remaining 50k. at the end of the day, you will have ended up paying about 29.5%

 

[vincelly]

????

 

[DO_IT]

MAKEI

 

[Luther12]

Well i found out, its this way assuming you take a loan of 100k with Faulu and after 5 months you have paid 50k, the original 100k is what the rate of 9.5% will be applied, as opposed to banks that would charge interest on the remaining 50k. at the end of the day, you will have ended up paying about 29.5%

In short, hamna reducing balance computation of interest.

 

[mtadao]

Even equity does not charge interest on a reducing balance