Debt Consolidation Loan
- You have accumulated several credits?
- Every month, you have to pay 2, 3 or even 4 installments?
- Different rates, different durations… how to find your way?
- How to pay less?
At Credit Mutuel Kampuchea, we combine your credits into a single one credit. You can ease the burden of your family budget expenses and get extra money and increase your purchasing power
For example, you currently reimburse every month as follows:
|EXISTING LOAN||DURATION||MONTHLY INSTALLMENT||OUTSTANDING BALANCE|
|Motor loan||24 months||$100||$1,300|
|Personal loan||36 months||$170||$2,200|
|Store credit||12 months||$78||$500|
|NEW COMBINED CREDIT (1)||DURATION||MONTHLY INSTALLMENT||YOUR MONTHLY INSTALLMENT WILL BE REDUCED|
|Existing loans $4,000 + $1,000 more for your new projetcs = $5000||60 months||$119.55||$228.45|
Not only you will save $228.45 per month but you will have also extra cash $1,000 at your disposal. It is well thought out decision.
- Only one monthly installment and only one duration, easy to follow-up
- Less expensive
- With a lower interest rate, you reduce your monthly installment
- CMK takes care of the reimbursement of all of your existing loans in other banks and micro finance institutions
(1) Subject to acceptation by CMK Interest rate can be lower than 20% (up to) of the repurchased loan from the other bank or MFI, according to the quality of application and to the guarantees. For a credit of US$5,000 and duration 60 months, the monthly installment could be US$119.55 (or less) and the total cost of credit is 2373.35 if the interest is 1% per month (including interests + monthly administrative free + processing fees – except life guarantee fund).
You are committed to pay back your credit at CMK