An interest of 5% to be paid and collected on a monthly basis for the first 6 months. The initial interest amount will be removed from the amount. Full loan amount to be repaid after the first 6 months of the term.
You are eligible to repay the full loan amount at any time during the duration of the loan without penealties. If you wish to extend the loan amount, the extension interest will become 10% from months 7-12. All loans must be repaid in full by the 12th month.
If approved, your guarantor will also be required to sign the final agreement.