DIRECT PAY is a payment in full from your Sevi account to your supplier, this equals to a cash payment.
WEEKLY PAYis a payment plan with weekly instalments.
MONTHLY PAYis a payment plan with monthly instalments.
AT ONCEis a payment plan with one instalment at the end.
This options is always available. It's generally, from a financial standpoint, also the most attractive option.
Pay in installments
Depending on whom you buy the product from. You get a one or more appropriate proposals.
The proposals have multiple variables based on which the total cost per proposal is calculated. Below a list of the main ones.
- Deposits can be a part of this proposal.
- The instalments can be paid per month or per week.
- The risk fees, low risk generally means low fees.
- Late pay fees ( for the installment or for the total loan)
- Defaulting fees
Example Take for example a loan of 3000 with no deposit and 300 risk fees. The installments can be paid in 3 months / 12 weeks. When the last payment is not made in time, the late pay fees are 500. After 90 days the loanee is reported to the CRB and has to pay an extra fee for retreiving the loan.