For 36 months, the add on rate is 14.05% and for 48 months its 18.92%.
TO compute, LOANABLE AMOUNT (usually 80% of the price of brand new car ) multiply by 1.1405 and divide by 36 to get the monthly amortization for 3 years.
For 48 months, 1.1892 multiply LOANABLE amount and then divide by 48 to get the monthly amortization for 4 years.
EXAMPLE: P500K price of brand new car.
Equity (Down payment): 20% of P500K = P100K
LOANABLE AMOUNT: 80% of P500K = P400K
36 months LOAN: P400K 1.1405 = P456,200 (total for 36 months)
Monthly amortization for 36 months: P12,672.22 (P456,200 divide by 36)
The loan whose interest rate is low is called low interest loan. If you got a unsecured loan @ low interest rate then it would be low interest loan for you.
A fixed rate mortgage is a loan with an interest rate that does not change over time. Whatever the interest rate is when the loan is taken out, will be the interest rate for the entire duration of the loan.
The average interest rate on a motorcycle loan is 100000
There isn't a set interest rate. Call your loan servicer for this information.
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There are many variables that factor into the interest rate of a loan. For instance, the interest rate on a loan below $100,000 is actually higher than that on a loan over $100,000. Expect an interest rate between 7-9%.
a fixed rate loan.
what is the currnet rate of personel loan intrest
An inexpensive loan is one with a 0.12 percent interest rate. A medium price loan would be about a 6.5 percent interest rate. Lastly, an expensive loan would be one with an interest rate of 15 percent or more.
There is no rate guarantee for a pre-qualification loan request. You will be qualified at the current interest rate in effect at time of loan application.
It is the one that has no interest (0 interest rate)
In a fixed interest rate loan the rate of interest around the loan billed through the bank is constant within the tenure from the loan. You need to choose a fixed interest rate only when you are feeling the interest rate prevailing on the market have touched very cheap and also the rates are only able to move upwards.