Chess Money

Chess Money is a P2P Lending company under the supervision of the Bank of Thailand.
https://www.bot.or.th/th/financial-innovation/digital-finance/fintech-in-thailand/p2plendingsandbox.html

The borrower must be an employee of an employer organization that is a partner with Chess Money.

Loan details
- Interest reduction starts at 8% per year, maximum at 15% per year, constant throughout the contract period.
- Loan term starts at 3 months and lasts up to 36 months.
- Credit limit from 1.5 to 4 times of net monthly income.
- Know the credit limit approval results as soon as you complete the application through the application. Then the loan application process can be completed within 5 minutes.
- Receive the loan within 1-2 days after accepting the loan contract into the salary account.
- Loans are reduced principal and interest and do not require collateral.
- Close the contract early at any time after one contract period has elapsed.

Example of calculating monthly installments
Loan amount = 10,000 baht
Interest reduces principal and interest per year = 8% interest
Loan term = 12 months
Monthly installment = 869.92 baht per month
Total installments = 10,439 baht (including interest 439 baht)

Detailed calculation formula
Monthly installment = 10000 * ((8%/12)*(1+(8%/12))^12) / ((1+(8%/12))^12) -1 = 10,439 baht

Check details or ask for more information at
Website: chessmoney.co.th
Email : contact@chessmoney.co.th

Check out the Privacy Notice at
Website: chessmoney.co.th/privacy

Chess Money revolving personal loan, low interest rate, large amount, fast approval. Chess Money is a P2P Lending Platform under the Bank of Thailand's supervision
https://www.bot.or.th/th/financial-innovation/digital-finance/fintech-in-thailand/p2plendingsandbox.html

Eligible only for employees of organizations that partnered with Chess Money.

Product Information
- Effective Interest rate starts at 8% per year up to 15% per year, fixed throughout the contract
- Loan tenors available start from 3 months up to 36 months
- Credit limit is from 1.5 multiples up to 4 multiples of your net monthly income
- Instantaneous credit limit approval upon completion of registration and make loan request in less than 5 minutes after credit limit is granted
- Receive the loan within 1-2 days into your payroll account after acceptance of loan agreement
- No guarantor or collateral required.
- Prepay anytime after one installment has been paid

Example of installment calculation
Principal = 10,000 baht
Effective interest rate = 8% per year
Tenor = 12 months
Installment per month = 869.92 baht per month
Total amount of all installments = 10,439 baht (Total interest payment 439 baht)

Detailed calculation of Equal Monthly Installment (EMI)
Installment = 10000 * ((8%/12)*(1+(8%/12))^12) / ((1+(8%/12))^12) -1 = 10,439 baht

See more details or drop a question at
Website : chessmoney.co.th
Contact: contact@chessmoney.co.th

Check our Privacy Notice at:
Website : chessmoney.co.th/privacy