|
|
Post by firefly777 on Aug 23, 2016 6:50:49 GMT
Hi all I have invested 50€ in short term personal loan from Creamfinance. Interest rate 11.5%, duration 30 days.  Received 50€ principal + 0.48€ interest 32 days later.  According to my calculations, there should be 0.50€ interest, since loan is 2 days late. Am I wrong or creamfinance is using different calculations?  |
|
|
|
Post by buttchopf23 on Aug 23, 2016 7:05:16 GMT
i have checked your calculation and it is correct, 0.48 is for 30 days. maybe the loan wasn't repaid late, but It took creamfinance 2 days to Forward the Money to you (you sometimes loose 1 days interest to that circumstance)
if that's not the case, maybe the late interest come later, happened to me as well.
you should pose this question to the Support. Please post the reply in here, it would be interesting.
|
|
|
|
Post by firefly777 on Aug 23, 2016 8:26:01 GMT
|
|
|
|
Post by buttchopf23 on Aug 23, 2016 8:40:50 GMT
so maybe late interest Comes separated (did you check your account Statement for that?)
|
|
|
|
Post by firefly777 on Aug 23, 2016 11:54:21 GMT
No late interest or late payment fees from Creamfinance.
|
|
|
|
Post by buttchopf23 on Aug 23, 2016 11:59:50 GMT
so, did you ask the Support?
|
|
|
|
Post by firefly777 on Aug 23, 2016 12:03:58 GMT
Yes, email to support sent. Awaiting reply. Case 3: For 3 days late repayment (33 days) received 50€ principal + 0.48€ interest, same as for 30 days. Funny  |
|
|
|
Post by buttchopf23 on Aug 23, 2016 13:08:02 GMT
indeded. will be fun to know what the reason is.
|
|
|
|
Post by extremis on Aug 23, 2016 13:11:27 GMT
I think that a loan payment is considered late and therefore late charges apply only if it is late 5 or more days. Of course, i could be wrong about that. Surely Mintos can clarify this.
|
|
|
|
Post by firefly777 on Aug 23, 2016 19:46:17 GMT
Received reply from Mintos  |
|
