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What are the interest rates on Mari Business Loan?
Mari Business Loan charges a simple interest of 0.5% per month (from EIR 8.98% p.a.*) on the amount that you draw down.
For a loan of S$100,000, the monthly interest incurred is S$100,000 x 0.5% = S$500.
With a repayment schedule of 9 months, the total interest incurred is S$100,000 x 0.5% x 9 = S$4,500.
Mari Business Loan (Term Loan) charges a simple interest per annum on the total loan amount. The interest rate and interest payable will be communicated to you in the Loan Offer Letter.
*EIR calculated based on a 3 month loan tenure.
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