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18/02/19
10:36
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Originally posted by sholtz
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They can’t miss out if they stump up before the 1st March. I would expect plenty of over subscribing to attain the full discount across the total loan.
Big benefit in paying it out, all interest forgiven and then some.
Here is an example of what I believe to be fairly accurate, base on a $100k loan and consolidated fees and interest.
$100k loan.
$22k in interest and fees to date.
$122k total outstanding
$36,600 discount over the total loan @30% discount rate.
$85,400 pay out figure.
A compelling offer to put in for oversubscribtion and pay out the entire loan before 1st March.
After 1st March through to 15th March and the 17% discount rate.
$122k total loan and consolidated fees and interest.
$20,740 discount on total loan.
Not quite all the fees and interest but close enough.
So it is risk verses reward in this incentive program.
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I don’t think you’ve got your calculations quite right there , the discount is only on a third of the total loan . So 30% of 33% which is roughly around 10% discount of total loan , not really that great a deal