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Credit Cards

The LOLC Finance Mastercard Credit Card is for those who always do good, spread happiness and do what's best for their loved ones and themselves.

Interest Calculation Example


Date Description Transaction Amount Balance
02/06/2019 Opening balance - 10,000
10/06/2019 Purchase 1,000 11,000
16/06/2019 Payment (3,000) 8,000
01/07/2019 Interest for the period 225.21 8,000
01/07/2019 Closing Balance - 8,225.21
Interest for the Period Balance Rate No. of Days Provisional Interest Amount
From 02/06/2019 - 09/06/2019 10,000 30% 8 65.75
From 10/06/2019 - 15/06/2019 11,000 30% 6 54.25
From 16/06/2019 - 01/07/2019 8,000 30% 16 105.21
Total - - - 225.21