etomo 2.0

Store description excerpt

etomo is a reliable online lending application owned and operated by Etomo Financing Corporation (Etomo FC). Etomo FC is a duly registered financing company with the Securities and Exchange Commission (SEC) of the Philippines with SEC Registration No. CS201840930 and Certificate of Authority No. 1187 to operate as a financing company. FINANCIAL PRODUCTS etomo Revo Revo is shorthand term for “etomo Revolving Loan”. It grants the borrowers flexibility in their finances! • Re-loan at any time as long as there is available credit! • Monthly minimum payment amount is only 8% of the outstanding balance. • Flexible payment period - Paying more than the minimum can shorten the loan period. • Flexible due date - Choose between the 2nd or 17th day of the month as your due date. • Rewards program - 10% discount on the interest amount if you pay on time! • No service fee or hidden charges! Daily Interest Rate: 0.177% Effective Monthly Rate: 5.4% Effective Monthly Rate with On-Time Reward: 4.86% Revo Loan sample computation Credit Limit: 20,000 Loan Amount: 8,000 Credit available for additional loan: 12,000 Minimum monthly payment: 8000 x 8% = 640 Round up minimum to the nearest multiples of 50: 650 Daily interest after 30 days: 0.177% x 30 days x 8,000 = 424.8 Principal payment: 650 - 424.8 = 225.2 Remaining balance: 8,000 - 225.2 = 7,774.8 If payment is made on-time Minimum monthly payment: 8000 x 8% = 640 Round up minimum to the nearest multiples of 50: 650 Daily interest after 30 days: 0.177% x 30 days x 8,000 = 424.8 10% reward on the interest: 424.8 x 10% = 42.48 Interest due after reward = 424.8 - 42.48 = 382.32 Principal payment: 650 - 382.32 = 267.68 Remaining balance: 8,000 - 267.68 = 7,732.32 etomo Term Term is a loan product with fixed monthly payment and amortization plan of 6- or 9-months. 12-months becomes available on the second and succeeding loans. • Re-loan available after full payment of the current loan. • Fixed monthly payment. • Choose between a 6- or 9-month payment period for first-time borrowers. A 12-month payment period is available for re-loans. • The first payment is due 30 days after disbursement, with subsequent payments every 30 days thereafter. • No service fee or hidden charges! Term Loan sample computation Loan amount: 6,000 Term: 6 months Monthly interest rate: 6.00% Effective monthly interest rate: 9.56% Sample monthly repayment: (Principal + Interest) 1st month: 787 + 573 = 1,360 2nd month: 862 + 498 = 1,360 3rd month: 944 + 416 = 1,360 4th month: 1,035 + 325 = 1,360 5th month: 1,134 + 226 = 1,360 6th month: 1,238 + 122 = 1,360 Total principal payment PHP 6,000 and total interest cost PHP 2,160 How to Repay Your Loan Our official payment channel are GCash, Maya, or CliQQ by 7-Eleven • Go to the Bills or Bills Payment • Search for “Etomo” as the biller • For any questions or assistance, please contact etomo Customer Service Privacy & Consent The protection of your personal information is our utmost

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