Pay on time and get a rebate that helps reduce your balance faster 🎉
How does it work? Which loans qualify? Ngern Tid Lor has the answers.
Pay on time to receive a rebate that helps reduce your principal faster
For good-standing customers with car/pickup* title loan and truck* title loan
Example payment comparison table
an interest rate of 24% per year
Eligibility is subject to the terms and conditions of the relevant product
With Interest Discount
Pay installments on time or be late no more than 1 installment
From the sample table
of interest discount calculation
Normally, the installment amount paid by the borrower
is allocated to principal and loan interest.
The amount is deducted as follows:
- Credit protection insurance (PPI) deduction
- Interest deduction
- Principal deduction
- Other fees (if any)
However, customers who pay on time may receive a rebate benefit, subject to the Company’s conditions. For example, if you make your payment according to the agreed terms, you may receive a rebate of THB 50.
Therefore, the borrower will pay interest of only 500 - 50 = 450 baht. When the borrower pays less interest, they will have more money to add to the principal at 1,400 + 50 = 1,450 baht.
Check your interest discount in the Amortization Table provided at the time of contract signing
Loans that qualify
for Rebate Pricing
Note: Only loan contracts issued on or after March 1, 2024 are eligible. Customers must maintain a good on-time payment record throughout the contract term to receive the rebate benefit.
Subject to the company’s conditions.
Things to know
If I don't make my payment on time according to company terms, will I still receive the rebate benefit?
Negative effects of late payments
- You may incur penalties and extra fees
- No Interest Discount
- Your credit score may be negatively affected
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