Terms | Rate (Add-on) | Rate (EIR) | Rate (Annualized) |
---|---|---|---|
6 | 0.99% | 1.6740% | 20.0880% |
9 | 0.99% | 1.7420% | 20.9040% |
12 | 0.99% | 1.7710% | 21.2520% |
18 | 0.89% | 1.6140% | 19.3680% |
24 | 0.89% | 1.6110% | 19.3320% |
36 | 0.89% | 1.5870% | 19.0440% |
The State protects its citizens from a lack of awareness of the true cost of credit to the customer by assuring a full disclosure of such cost and other terms and conditions with a view of preventing the uninformed use of credit.
As such, a disclosure statement is a required attachment to the loan contract. It shall include, at a minimum, the following information: