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Disclosures and Definitions

Disclosures & Definitions
Disclosure
Financing limits and other charges are subject to the relevant laws, regulations and other regulatory requirements
Definitions
Annual Percentage Rate It is the discount rate at which the present value of all payments and installments that are due from the borrower representing the total amount payable by the borrower, equals the present value of all payments of the amount of financing available to the borrower on the date on which the financing amount or the first payment thereof is available to the borrower.
Finance Amount The amount of, on balance sheet, finance granted to the customer
Maturity The contractual maturity of the on-balance sheet financing products given to the customer. This is the final payment date of financing products at which point the principal (and all remaining profit) is due to be paid.
Monthly Repayment Amount The installment amount the customer is obliged to pay to the bank each month until the debt is paid off.

Illustration
Finance Amount Maturity in years APR Monthly Payment Amount
100,000 5 years 5.5% 1,901