👥 Referral Seabank credit very low interest

[PaRzIbAl]

Fixed monthly add-on interest rate of 2.95%, which corresponds to 4.36% monthly contractual rate based on 3-month tenure.



Add-on rates calculate the total interest at the start of a loan, which is then added to the principal each month. The monthly interest amount remains fixed for the duration of the loan. While Contractual Rates compute interest based on the remaining balance with each repayment.

And use my referral to get 50 pesos




Example:

For a loan of PHP 10,000 with a 3-month tenure, if we calculate using add-on rate of 2.95%, the monthly repayment is PHP 3,333.33 plus a fixed interest of PHP 295 (2.95% of PHP 10,000), totaling PHP 3,628.33 per month. If we calculate using contractual rate of 4.36%, the monthly repayment is still PHP 3,628.33 for all repayment cycles, but the principal and interest amounts differ as the outstanding balance decreases.

 

[Hybrid1987]

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a financial technology (fintech) company that offers a buy now, pay later service in the Philippines. It's a popular online payment method that allows users to split the cost of purchases over multiple months.

focuses on providing payroll-enabled financial services. The company's platform provides users the convenience to buy now and pay later for their online purchases on a monthly installment-based program for salary advances and virtual cards.focuses on providing payroll-enabled financial services. The company's platform provides users the convenience to buy now and pay later for their online purchases on a monthly installment-based program for salary advances and virtual cards.