Example of a FlexiCredit calculation
FlexiCredit is a one-off credit and its interest rate is the 3-month Euribor quoted on the first banking day of the month the credit application is signed + 8.0% margin. With a nominal interest of 7.79 % and a 60-month loan period, the annual percentage rate of charge on a FlexiCredit of 5,000 euros is 11.4 % (March 2016).
The total amount of the credit and the credit servicing costs amount to 6,459.83 euros and the number of instalments is 60. The calculation includes an account management fee of 4,50 euros per month (by automatic debit) and a credit opening fee of 125 euros.
The FlexiCredit is granted by Nordea Finance Finland Ltd, Aleksis Kiven katu 9, Helsinki, on standard credit-granting terms.