Business Support
Group

Interest Calculations

Our interest capitalization is analysed below:

Our interest rate is FIVE PER CENT (5%) flat per month, but reviewable without notice.

Example of a Facility of N100,000.00 repayable in six months is in the table below.

We do not tolerate defaults in payments at all.

For this reason, any default in any month will attract a Default fee of THREE PER CENT (3%) PER MONTH ON THE TOTAL AMOUNT PAYABLE FOR THAT MONTH.

This will be in addition to any other penalty or sanction that may be imposed.

Sn	Months	Balance Payable	Principal Payable Per Month	Interest Payable Per Month	Total Amount Payable By Customer Per Month
1	1st month	130,000.00	16,667.00	5,000.00	21,667.00
2	2nd Month	108,333.00	16, 667.00	5,000.00	21,667.00
3	3rd Month	86,667.00	16,667.00	5,000.00	21,667.00
4	4th Month	64,999.00	16,667.00	5,000.00	21,667.00
5	5th Month	43,332.00	16,667.00	5,000.00	21,667.00
6	6th Month	21,665.00	16,662.00	5,000.00	21,667.00
	Totals		100,000.00	30,000.00	130,000.00