Yes, there is. It will be calculated with a flat interest rate and charged based on the amount approved. It is calculated as such: [n(n+1)/t(t+1)]
x P n: Number of monthly instalments remaining
t: Financing tenure in months
P: Total interest payable over entire
tenure
Total settlement after rebate calculation = (Total repayments – rebate) +
[early exit fee+late payment charges (if any)]