To help inexperienced borrowers like Mufia, we have always tried to simplify our lending operations. Today we have distilled our repayment mechanism to the following formula: • Loans last one year. • Installments are paid weekly. • Repayment starts one week after the loan. • The interest rate is 20 percent. • Repayment amounts to 2 percent of the loan amount per week for fifty weeks. • Interest payments amount to 2 taka per week for every 1,000 taka of the loan amount.
