Structured Loans vs. One-Time Loan
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Suisse Bancorp allows clients to structure larger loan requests in order to help save money on interest. Below is a chart illustrating how structured loan options are more cost effective than a one time larger loan.
Structured Loans
| Month |
Number of Days |
Interest Rate |
Monthly Interest |
Principal Amount |
Interest Through December 31st |
| January |
31 |
45% |
$39.17 |
$1,025.00 |
$461.25 |
| February |
28 |
45% |
$35.38 |
$1,025.00 |
$422.08 |
| March |
31 |
45% |
$39.17 |
$1,025.00 |
$386.69 |
| April |
30 |
45% |
$37.91 |
$1,025.00 |
$347.52 |
| May |
31 |
45% |
$39.17 |
$1,025.00 |
$309.61 |
| June |
30 |
45% |
$37.91 |
$1,025.00 |
$270.43 |
| July |
31 |
45% |
$39.17 |
$1,025.00 |
$232.52 |
| August |
31 |
45% |
$39.71 |
$1,025.00 |
$193.35 |
| September |
30 |
45% |
$37.91 |
$1,025.00 |
$154.17 |
| October |
31 |
45% |
$39.71 |
$1,025.00 |
$116.26 |
| November |
30 |
45% |
$37.91 |
$1,025.00 |
$77.09 |
| December |
31 |
45% |
$39.71 |
$1,025.00 |
$39.17 |
| |
|
|
|
|
|
|
|
|
Totals as of December 31st |
$12,300 + |
$3,010.13 = |
|
|
|
|
|
$15,310.13 |
One-Time Loan
| Months |
Number of Days |
Interest Rate |
Monthly Interest |
Principal Amount |
Interest Through December 31st |
| 12 |
365 |
45% |
$450.94 |
$12,025.00 |
$5,411.25 |
| |
|
|
|
|
|
|
|
|
Totals as of December 31st |
$12,025 + |
$5,411.25 = |
|
|
|
|
|
$17,436.25 |
Total Savings
| Totals Savings by Structuring Loans |
$17,436.25 - |
$15,310.13 = |
|
|
$2,126.12 |
