There are two types of loan payments, namely lump sum (principal and rate paid at the end) and installment (principal and rate paid monthly).

The interest calculation of the two types has differences.

Here’s how to calculate it:

Lump sum payment (usually KoinInvoice product)

Rate will be calculated daily from the date of disbursement (loan disbursement) until payment by the borrower.

It should be noted that the borrower’s payment date may be different from the date of receipt of payment from the lender’s side if there is a clearing process between banks which will take approximately 3 (three) working days.

It should also be noted that the date that appears on the lender’s application page is the date of receipt of payment (after going through the bank clearing process +/- 3 working days).

Installment (other than KoinInvoice product)

Rate will be calculated on a monthly basis according to the interest per annum listed.

Please note that the available due dates are between the 1st or the 15th.

Loans disbursed on the 1st to 14th will have a maturity date on the 1st of the following month, while the loans disbursed on the 15th to 31st will have a maturity date on the 15th of the following month.