Customers wish to buy goods but cannot make full payment and then they can apply the hire purchase loan. Repayment will be monthly installment. Tenure can be one year and down payment can be 30% and 50% of goods.
|Hire Purchase||One Year||One Year|
|Down Payment||30% of Goods||50% of Goods|
|Interest Rate||9% on Financing||9% on Financing|
|Service Charges||1% on Financing||1 % on Financing|
|Payment Order Fees||0.1% of Goods||0.1% of Goods|