MFO microloan calculator
Ukrainian microloan organisations (MFOs) quote rates daily, not annually like banks. Standard is 1.5-2% per day — astronomical 547-730% APR. The calculator shows real cost: overpayment, daily cost, and effective APR. Many MFOs offer 0% on the first loan (promo), but missing a pay…
Ukrainian microloan organisations (MFOs) quote rates daily, not annually like banks. Standard is 1.5-2% per day — astronomical 547-730% APR. The calculator shows real cost: overpayment, daily cost, and effective APR. Many MFOs offer 0% on the first loan (promo), but missing a payment reverts to the standard rate. Ukrainian law caps daily rate at 2% and total overpayment at no more than double the principal over the loan's life (Law №3325-IX, 2023).