For IPPIS customers, loan repayment includes both the loan amount and a fee spread across the loan tenure. Each installment consists of a portion of the loan plus a percentage-based fee.
If a customer wants to fully liquidate the loan, they must pay both Veend’s repayment amount and the IPPIS repayment fee. The customer contacts Veend, and the team calculates the total payable amounts. The customer is then provided with IPPIS payment details. After payment, proof is submitted and forwarded to IPPIS to request loan closure and stop further deductions.
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