In the following example, we will show you how high the fees are for a €300.00 pawn loan with a 30-day term and how they are made up:
Loan amount: € 300,00
Interest: € 3,00
Business operation costs: € 6,50
Total fees: € 9,50
You can find all further information about interest and fees at CASHY in our clear fee schedule.
Please note: A pawn loan is suitable for short-term bridging due to the short term of 3 months. In our example, the interest is 1% per month (12% per year) and the operating costs are €6.50 per month (€78 per year). For example, if you were to keep renewing your pawn loan with a term of 3 months and reach a total term of 1 year, the fees would be as follows:Loan amount: € 300
Interest on the loan: € 36
Operating costs: € 78
Total fees for 1 year (term not offered in this length): € 114,-