PayOn.v2 2.5.4

PayOn is a cutting-edge online lending application that allows users in Mongolia to effortlessly and swiftly access loans ranging from 50,000 MNT to 5,000,000 MNT.

The PayOn application offers numerous advantages:

• Flexible income verification methods
• Receive loyalty points for timely repayments
• Engage in the interactive "TreeOn" game to contribute to environmental preservation by planting real trees using your accumulated loyalty points

To apply for a loan through the PayOn app, users need to follow these steps:

1. Register: Download the PayOn app, provide your user details, and verify your phone number.
2. Credit Assessment: Based on the information submitted, the app will determine loan eligibility and terms.
3. Sign Agreement: If approved, users are required to sign a physical agreement at the specified office location.
4. Receive Funds: Once the agreement is finalized, users can request and receive their approved loan directly into their bank account via the app.

Loan terms offered by PayOn include:

• Loan Amount: 50,000 MNT - 5,000,000 MNT
• Repayment Duration: 3 months - 24 months
• Monthly Interest Rate: 1.9% - 3%
• Annual Interest Rate: 22.8% - 36%
• Service Fee: 0 MNT

An illustrative loan example is as follows:

• Loan Amount: 300,000 MNT
• Service Fee: 0 MNT
• Repayment Period: 3 months
• APR: 29.0%
• Monthly Payment: 105,041.15 MNT
• Total Interest Paid: 14,909.44 MNT
• Total Payment Amount: 314,909.44 MNT

In addition to loans, users can engage in the loyalty program by playing the "TreeOn" game to convert virtual trees into real trees using accumulated loyalty points and documented steps. To record fitness data accurately and enable step counting within the app, user authorization for HealthKit APIs is required.