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1. How do we compute your loan’s interest?

Capital Amount + Lending Costs + Business Interest on the Loaned Amount + Administrative Costs = Nominal Value (NV)

Nominal Value / Loan Term (Number of Months to Pay the Loan) = Monthly Installment Fee

Note: The interest rate on an overdue debt is around 1.78% per day, so when paying late, you have to be aware of how much debt has increased.

2. What happens if I pay my installment past the due date?

Under normal circumstances, there will be a corresponding penalty for each day of delay and the interest will continue to increase every day until you can settle your account.

The client was 4 days late, while in March and in April, the client was 10 days each delayed, in paying the installment.

Take a look at this February computation:

If you have paid the agreed installment after the deadline, expect that there is still an unpaid balance reflected in your account, which will be added to the subsequent monthly dues.

3. What happens if I cannot pay my monthly dues during the Grace Period?

In accordance to the 30-day grace period mandated by the Securities and Exchange Commission, Flexi Finance Asia, Inc. has ceased to calculate penalties and additional interest on loans that mature during the grace period, effective from March 17, 2020, to May 31, 2020, as well as on any other loans, even those already in default.

Furthermore, Flexi Finance has come up with a solution that is more beneficial to the clients. The company did not require the clients to pay throughout the Grace Period and extended the loan tenure or the amount of time you’re given to repay a loan.

The result may have turned out to be a big surprise for many clients, because in the June payment deadline, all clients, who did not make the payment, were obliged to settle the entire arrears.

4.  Misunderstandings and complaints on the high-interest rate during the Grace Period

If you have due dates that fall under the grace period of March 17 to May 21, 2020, Flexi Finance would like to clarify that, the company did not charge any penalties or additional interest.

Any amount shown in the loan account suggesting otherwise, such as SMS sent by the system, rest assured that the amount in the application was deducted and adjusted. Our system did not predict the occurrence of this pandemic, so re-calculations were made several times by our IT department.

If you saw your debt increased between March 17 and May 31, this was later deducted. You may contact our customer care thru our Messenger/Facebook Page for validation. Just keep your receipts as future reference and proof of payment.

5. How to avoid penalties and interest surge?

Settle your monthly installment fee on date to our accredited payment channels at your convenience. Check out our payment partners on our website.

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Get in Touch With Us

CIFC Tower
Juan Luna Avenue Extension
NRA, Mabolo, Cebu City

T: +63 9293 455 444
E: info@flexi.com.ph