พาวเวอร์พิโก

Description

Power Pico is an application that provides credit check service, news, promotions. Easily on mobile anywhere, anytime, 24 hours a day from Kham Khuean Kaew Business Co., Ltd. via WIFI and GPRS/EDGE/3G. of mobile phones of all major networks which is highly secure
It consists of the following services:

- Check your loan balance, number of accounts, account movements on your mobile phone.
- Apply for a loan online
- Receive invoices via online, mobile
- Submit various complaints When you are not convenient to provide services
- Receive press releases, promotions, and special privileges that you will receive
- Notifications when various appointments are due
- Find the location of the company or branch

Credit limit not exceeding 50,000 baht (Pico Finance)
Maximum interest rate is not more than 3% per month or 36% per year (decrease the beginning, reduce the interest).
The minimum loan term is 0.5 years (6 installments) and up to 5 years (60 installments) with monthly repayments. or up to
No entry fee , No collateral appraisal fee.
In case of late payment We reserve the right to charge a fee of not more than 50 baht.
Fines, other debt collection fees according to the announcement of the Ministry of Finance (https://1359.go.th/picodoc/images/reduce debt collection 64.jpg)
Interest Calculator (https://1359.go.th/effectiveRate/)
How to calculate interest on a loan loan (Read more at https://www.powerpico.com/b/4), for example

An example of how to calculate interest (decrease the principal, reduce the interest)

Let's say you want a loan of 12,000 baht, installment period 6 months, payable once a month, loan interest rate 24% per year and entrance fee 0 baht.

Calculation method - The interest that must be paid in each period must be calculated. by calculating the reduced principal and the remaining principal for use in calculating the interest for the next period (assuming that the payment is 2,150 baht per installment, except for the last month to pay 2,093 baht)

Step 1 - Interest for the 1st installment (assuming it's Jan. which has 31 days) = [(12,000 x 24% x 31)/365] = 245 baht

Step 2 - Decrease in principal = [Instalment payments in that period - Interest paid in that period] = [2,150-245] = 1,905 baht.

Step 3 - Find the remaining principal (to calculate interest for the next period) = [Remaining principal from the previous period - Reduced principal] = [12,000-1,905] = 10,095 baht

Follow the steps until the 6th month.