How is the interest on my instalment loan repaid across the monthly instalments?

If the approved loan amount for your Mari Credit Card Instant Loan is S$10,000 and this loan has an interest rate of 1.86% p.a. (EIR 2.79% p.a.)* or a monthly interest rate of 0.155% per month (EIR 2.79% p.a.)*, your monthly instalment will be about S$3,348.83 and there will be no change to this monthly instalment throughout the tenor of the loan.

Interest and principal are apportioned differently; in the earlier instalments, a larger portion of your monthly instalment goes towards paying off the interest on the loan. The interest portion will be reduced gradually with each instalment.

* The interest rate and fee indicated is the lowest published rate and may differ from what is offered to you. Interest, fees and charges may vary across individual Instant Loan(s) at our sole discretion based on various factors. We will inform you of the interest, fees and charges applicable to your loan(s) via the MariBank App at the time of each Loan Request. The effective interest rate is calculated based on a 3 months loan tenor.