Fees

Order (N 3 / 004-16)

According to CEO Order (N 3 / 004-16) formed on May 20, 2016 changes took place in all loan/product agreements formed between LLC MFO Credo and the Customers, regarding the penalties for non-payment of accrued monthly installments according to the repayment schedule.

  • On every first day of overdue, customer shall pay 5% of the belated unpaid principal amount, no less than 5 GEL and no more than 100 GEL.
  • In case of purchased product by Wish or Crop Card, only on every first day of overdue, 5% of the belated unpaid principal amount, no less than 2 GEL and more than 100 GEL.

 

SMS and Distance Service Monthly fee

Credit Purchase Loan

0.30 GEL

Start Up Loan

1.50 GEL

Instant Loan

1.00 GEL

SME Loan

1.00 GEL

Service Fee for the rest of the products

Up to $ 1500

0.50 GEL

$1501 - $5000

0.75 GEL

$5001 - $7000

1.00 GEL

$7001 - $10000

1.50 GEL

$10001 - $15000

2.00 GEL

Above $15001

2.50 GEL

*Equivalent in GEL

Yearly origination Fee

Credo Bank products which have tenor longer than 12 months and loan amount is above or equals $ 4,000 and is above or equals 10,000 GEL, together with origination fee, which is paid directly during the loan withdrawal, is accrued yearly origination fee.

Yearly Origination Fee for loans disbursed in USD

Loan Amount

Yearly Origination Fee

<=$1,000

1.50%

$1,001-$4,000

1.00%

Yearly Origination Fee for loans disbursed in GEL

Loan Amount

Yearly Origination Fee

Below 2,500 GEL

1.50%

GEL 2,501-GEL 10,000

1.00%

Yearly Origination fee is not relevant for Loans disbursed from September 19, 2016