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GXS Help Centre

How do I calculate the monthly repayment amount of my Balance Transfer loan?

You can easily simulate the monthly amount payable when you go through the borrowing journey on the GXS app.

A minimum percentage of the loan principal will need to be paid each month - you can refer to your app for the minimum percentage payable. The remaining balance will then be payable by the end of the tenure.

The one-time processing fee forms part of the loan amount payable over the selected tenure.

For example:
Interest (APR): 0%
Selected tenure: 4 months
One time processing fee: 1.35% (EIR 4.13%)
Minimum percentage payable each month except for final month: 1%

Loan Principal = Amount requested by you
= $10,000

Monthly repayment each month except for final month = Loan Principal x Minimum percentage payable
= $10,000 x 1%
= $100

Amount payable in final month = Loan Principal - [Monthly repayment each month x (Tenure - 1)]
= $10,000 - [$100 x (4 - 1)]
= $10,000 - $300
= $9,700

This means that your repayment schedule is as follows:
Month 1: $100
Month 2: $100
Month 3: $100
Month 4: $9,700

*The Annual Percentage Rate (APR) represents the total borrowing cost, expressed as a yearly rate, relative to the initial loan amount.

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