We calculate the interest for our Private Instalment Financing with the a great reducing balance

Costs

Customers part	Loan amount	Loan amount >= VND two hundred mil
Employee Banking Solution (EBS) consumers dos	% p.an excellent.	% p.good.
Largest consumers	% p.good.	% p.an excellent.
Some other clients	% p.an excellent.	% p.a good.

Consumer segment	Staff member Banking Solution (EBS) customers 2
Amount borrowed	% p.a great.
Amount borrowed >= VND two hundred billion	% p.a.
Buyers portion	Prominent customers
Amount borrowed	% p.a great.
Loan amount >= VND 2 hundred million	% p.a.
Customer phase	Other customers
Amount borrowed	% p.good.
Amount borrowed >= VND two hundred mil	% p.a beneficial.

Commission sort of	Percentage rate
Software percentage	100 % free
Later percentage rate of interest	150% out-of applicable interest and charges with the delinquent idea
Very early fee commission	3% on prepaid service concept (merely full payment is actually acceptance)

Fee kind of	App commission
Commission speed	Free
Payment kind of	Later fee rate of interest
Fee rates	150% from relevant rate of interest and charge to the delinquent concept
Payment type of	Very early fee fee
Fee rate	3% to the prepaid service idea (just complete cost are anticipate)

Example of notice formula

Week	Concept	Desire	Instalment
1	5,100,100	cuatro43,83six	5,443,836
2	5,100000,000	443,836	5,443,836
3	5,100000,one hundred thousand	443,836	5,443,836
4	5,000,000	443,836	5,443,836
5	5,one hundred thousand,100	443,836	5,443,836
6	5,100000,100	443,836	5,443,836
seven	5,000,000	443,836	5,443,836
8	5,000,000	443,836	5,443,836
nine	5,100000,000	443,836	5,443,836
10	5,100,100000	443,836	5,443,836
eleven	5,one hundred thousand,000	443,836	5,443,836
a dozen	5,one hundred thousand,100000	443,836	5,443,836
Total	60,one hundred thousand,one hundred thousand	5,326,027	65,326,027

payday loans Covington

Month	1
Principle	5,000,000
Interest	443,836
Instalment	5,443,836
Month	2
Principle	5,000,100
Interest	443,836
Instalment	5,443,836
Month	3
Principle	5,000,000
Interest	443,836
Instalment	5,443,836
Month	4
Principle	5,000,one hundred thousand
Interest	443,836
Instalment	5,443,836
Month	5
Principle	5,100000,100
Interest	443,836
Instalment	5,443,836
Month	6
Principle	5,100,one hundred thousand
Interest	443,836
Instalment	5,443,836
Month	7
Principle	5,one hundred thousand,100
Interest	443,836
Instalment	5,443,836
Month	8
Principle	5,one hundred thousand,one hundred thousand
Interest	443,836
Instalment	5,443,836
Month	9
Principle	5,000,one hundred thousand
Interest	443,836
Instalment	5,443,836
Month	10
Principle	5,100000,one hundred thousand
Interest	443,836
Instalment	5,443,836
Month	11
Principle	5,one hundred thousand,100000
Interest	443,836
Instalment	5,443,836
Month	12
Principle	5,000,100000
Interest	443,836
Instalment	5,443,836
Month	Total
Principle	60,100000,100000
Interest	5,326,027
Instalment	65,326,027

Month	Principle	Interest	Instalment
1	cuatro,576,165	788,548	5,443,568
2	cuatro,763,722	727,370	5,443,568
3	4,799,962	665,387	5,443,568
4	4,840,852	602,590	5,443,568
5	cuatro,868,533	538,968	5,443,568
6	4,984,294	474,509	5,443,568
7	5,020,310	409,203	5,443,568
8	5,088,488	343,039	5,443,568
9	5,166,818	276,006	5,443,568
10	5,213,838	208,091	5,443,568
11	5,312,600	139,284	5,443,568
12	5,364,418	69,573	5,363,325
Total	60,100,100000	5,242,568	65,242,568

Month	1
Principle	cuatro,576,165
Interest	788,548
Instalment	5,443,568
Month	2
Principle	cuatro,763,722
Interest	727,370
Instalment	5,443,568
Month	3
Principle	cuatro,799,962
Interest	665,387
Instalment	5,443,568
Month	4
Principle	cuatro,840,852
Interest	602,590
Instalment	5,443,568
Month	5
Principle	4,868,533
Interest	538,968
Instalment	5,443,568
Month	6
Principle	cuatro,984,294
Interest	474,509
Instalment	5,443,568
Month	7
Principle	5,020,310
Interest	409,203
Instalment	5,443,568
Month	8
Principle	5,088,488
Interest	343,039
Instalment	5,443,568
Month	9
Principle	5,166,818
Interest	276,006
Instalment	5,443,568
Month	10
Principle	5,213,838
Interest	208,091
Instalment	5,443,568
Month	11
Principle	5,312,600
Interest	139,284
Instalment	5,443,568
Month	12
Principle	5,364,418
Interest	69,573
Instalment	5,363,325
Month	Total
Principle	60,100,one hundred thousand
Interest	5,242,568
Instalment	65,242,568

Although the focus paid to your reducing balance financing looks high, it is actually less than the interest reduced on fixed balance mortgage, because of more appeal formula actions.