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Your annual percentage rate (APR) is the overall yearly cost of your loan. The APR on Ceyloan loans starts as low as 18%. We determine the interest rate for each client individually.
Fees
Our loans have no application fees or brokerage fees, so you won’t be asked to pay anything up front to receive your loan. We also don’t charge prepayment fees for early payoffs.
We do assess penalties on late payments, but you can avoid those fees by staying current with your monthly payments.
Interest rate
Your interest rate indicates how much you’ll pay in interest per year.
At Ceyloan, we aim to provide a transparent borrowing experience to our clients. Here is an example of a loan calculation. Suppose you were approved for RS 50,000 for 6 months. With APR of 18%*, your monthly loan cost will be only RS 442. The monthly payment will be an easy RS 8776.