Regardless of the approved loan amount, the fixed fee starts from 1% per month of the total loan amount. Additionally, if you choose to use the ‘’Increase the speed of review’’ feature, there will be a 1.4% fee of the total loan amount, which is charged at once upon approval of the loan.
Repayments will be made in weekly installments, ensuring a structured and predictable repayment process. These installments will be automatically deducted via direct debit from your linked Business Account, simplifying the repayment experience.
Exemplary scenario:
You are approved for a loan with Banxware. The total approved amount is EUR 100 000, and you choose a loan duration of 6 months.
Your loan comes with a fee of 1% per month. Since your term is 6 months, the total fee is approximately 6% of EUR 100 000, which equals EUR 6 000 EUR.
Repayment breakdown:
Total repayment period: 6 months → 24 weeks
Total amount to be repaid: EUR 100 000 (loan) + EUR 6 000 (fee) = EUR 106 000
Weekly installment amount: EUR 106 000 ÷ 24 weeks = EUR 4 416.67 per week