Why Loan from Salva Vida?

Aside from low interest rates and quick applications that can be done online, you will be happy to know that Salva Vida offers loans with diminishing balance. This means that your loan gets paid off fast.

What is diminishing balance?

Simply put, with diminishing balance, the interest gets smaller as the loan ages because the interest is based on the remaining outstanding balance. As the loan principal gets paid, the basis for interest also gets smaller.

This interest computation is by far, the best among the three because it reflects the amortization of your principal, provided that you amortize it on a regular basis e.g. monthly, bi-monthly or weekly, on your interest payments. Let say, Mrs. V loans a sum of money to ABC Inc. in the amount of Php10, 000.00 bearing 2% interest rate payable monthly for 10 months. Mrs. V’s monthly obligation will look like this:

Salva Vida charges very low processing fees unlike other loan companies.

Sources:

http://business.inquirer.net/83906/how-much-interest-do-you-really-pay#ixzz2rjOLM53N

http://reytas.blogspot.com/2011/09/diminishing-interest-rate.html