A. This is the amount that the user wishes to take from us in the form of loan. The user promises the repayment of the loan along with the interest charged on the basis of company's standard rates of interest.
Q. What is Loan Tenure?
A. The Loan Tenure is the fixed time between the Financial institution, or NBFC which is decided by the user. Up until time time, the user promises to repay all of the loan amount along with the interest.
Q. What is Total Interest Amount?
A. Total Interest Amount is calculated based on user's input. It's purely dependent upon the loan amount, the loan tenure as entered by the user, and the rates of interest which is 8% yearly. The interest amount is the total amount the customer will have to pay above the Loan Amount.
Q. What is Rate of Interest?
A. Rate of interest is the interest rate at which the loan is provided by any bank or nbfc. We on Pine Cash provide loan at 8.00% interest rate only.
Disclaimer :
We provide the user with an EMI calculator which is along the application process itself. It is a tool that calculates your monthly loan installment and provides the user with the idea of the amount he will have to pay after loan disbursement. The calculation is made on the basis of inputs given by the user like Loan Amount, & Loan Tenure. This Calculator also calculates the Interest Amount by using Rates of Interest which are standard to the company. The EMI amount serves as monthly Repayment of the Loan Amount and will be carried on up till tenure selected.