What are the differences between monthly interest rate and interest rate per annum (p.a.)?

We have updated the MariBank App and website to display interest rates on a per annum basis instead of monthly basis. The monthly interest rate is calculated by dividing the per annum interest rate by 12 and the result is rounded off to three decimal places. The per annum interest rate is calculated by taking the monthly interest rate and multiplying it by 12.

However, please be assured that this is purely a change in how the information is displayed. Your Mari Credit Card Instant Loan details, including the interest amount, monthly instalment amount, total repayment amount and effective interest rate remain the same as what you have agreed to, and have not changed.