Credit Master 1.1.13 APK
- Version: 1.1.13
- File size: 34.30MB
- Requires: Android 5.0+
- Package Name: com.credit.master
- Developer: Credit Master SDN. BHD.
- Updated Apr 07, 2022
- Price: Free
- Rate 4.80 stars – based on 268 reviews
Credit Master is a licensed microfinance loan company with excellent reputation. It specialises in offering convenient and fast microfinance loan service for individuals.
Fees & Charges:
Minimum duration of payment: 3 months
Maximum repayment period: 24 months
Max. Annual Percentage Rate (APR) is 0%.
Processing Fee (Includes Legal Fee, Stamp Fee, and Service Fee)
RM300 ~ RM15000 depending on the loan amount
Early Termination Fee: None
Late Payment Interest
Late payment penalty may apply
Calculation of the Loan
Example:
Loan Amount - RM3000.00
Loan Period - 6 Months Installment
Interest Rate - 0%
Processing Fee (Includes Legal Fee, Stamp Fee and Service Fee) - RM30
Total Interest Charge: Loan Amount * Interest rate per month * Loan Period
RM3000 * 0% (Interest per month) * 6 Months = RM0
Total Repayment Amount: Loan Amount + Total Interest Charge
RM3000 + RM0 = RM3000
Monthly Installment Calculation: Total Repayment Amount / Loan Period
RM3000 / 6 Months =RM500
Total Cost of Loan = Processing Fee + Profit Rate Charges
Total Cost of Loan = RM30 + RM0 = RM30
