In this example, €3,000 is being requested through three paychecks of €1,000. The period chosen to repay the Salary Loan is 6 months:

• Commitment fee: €45 (1.5%).
• Interest rate: 0% NIR 5.83% APR.
• Total amount: €3,049.20.
• Constant monthly payment: €500.

The APR was calculated taking into account postage expenses: €0.70 monthly.

If you need to open a checking account exclusively for managing this loan, and if the conditions for having no maintenance fees on said account are not met, the fee will be €60 twice per year. Therefore, the APR of the loan would be 13.59%, with a total cost of €3,109.20.