How are repayments calculated?
For Micro loan/ Term Loan, repayments (Principal + Interest) are calculated based on the loan amount, tenor and simple interest rate. The installment amounts will be shown in your loan contract for your ease of planning.
How do I make repayments?
For more information, please refer to this article
In general, repayments of Micro loan/ Term Loan are made on a monthly basis via bank transfer or via GIRO. Please refer to your repayment schedule in the loan agreement or login to Elevate website and navigate to your ‘’Financing’’ section
Can I make a partial prepayment or full redemption?
Yes, you can make partial prepayments or full redemption repayments, subject to the minimum amount specified in your loan agreement.
Please note that there is a processing fee for early repayment. Kindly reach out to your relationship manager or speak to our Customer Experience to kick start the process.
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