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Premium Financing
Help you benefit from life protection while enjoying financial flexibility
Illustrative Example on Premium Financing Interest Payment
Insure
Premium Financing
Illustrative Example on Premium Financing Interest Payment
Item
Amount
Loan Amount
US$144,000
Interest rate
1
(Charging at Cost of fund)
5% p.a.
A margin
1% p.a
Loan tenor
2
1 Month
(Assuming the actual number of days within this month is 30)
Monthly interest payment
US$720
(US$144,000 x 6% p.a. x 30/360)
1
Charging at Cost of Funds (“COF”) is subject to re-fixing every loan tenor period , while the margin is fixed. This example is charging at COF plus a margin of 1% p.a. (Assuming COF for this month is 5% p.a. and the margin is 1% p.a.).
Note: For this example, the interest rate on a Premium Financing loan is calculated based on COF plus a margin, where COF will fluctuate and be subject to change from time to time according to market interest rate, and it is not capped.
2
Maturity of each interest period
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