DRM - Simplify Financial

DOCTOR MONEY COMPANY LIMITED

About this app

Doctor Money is an innovative financial technology platform to provide online financial services such as applying for loans and purchasing personal life insurance. Doctor Money's operations are regulated by the Bank of Thailand and the Insurance Commission (OIC). Doctor Money is committed to developing technology that is highly secure. Users can apply for loans or purchase our products and can easily review every step of the approval process themselves. The service interest rate does not exceed 24% per year according to the policy of the Bank of Thailand. Users can also report complaints arising from our services through our platform.

Providing loan services, pawning registration documents
- Conditions of arrangement
- Type of car in the contract: sedan, pickup truck, van.
- The registration book must be debt-free.
- Vehicle age not more than 15 years
- Possession for not less than 120 days
- Borrowers aged between 20-65 years, including contract period.
- The borrower must have a mobile phone that can use the application.
- Do not transfer the registration book
- There is no guarantor.
- Credit limit, interest, contract period
- Maximum credit limit 100,000 baht
- Interest 6% - 24% per year
- Payment period divided into monthly installments. Minimum repayment period of 12 months, maximum of 36 installments.

Interest calculation example Registered pawn loan
The customer enters into a contract of 50,000 baht and receives the money on November 5, 2022 by choosing the number of 12 installment payments.
- Credit limit 50,000 baht, one-time payment format
- Amount to be received: 50,000 baht
- Interest 24% per year
- Installment period 12 months
- Payment is due every 5th of the month.
so
The 1st installment is paid on December 5, 2022. Total payment is 4,728.00 baht.
(Principal 3,741.70 baht, accumulated interest for 30 days 50,000.00*24%*30/365= 986.30 baht) Remaining principal outstanding= 46,258.30 baht
2nd installment paid on 5 Jan. 2023, total payment 4,728.00 baht.
(Principal 3,785.09 baht, accumulated interest for 31 days 46,258.30*24%*31/365= 942.91 baht) remaining principal remaining= 42,473.21 baht
3rd installment, payable on February 5, 2023, total payment 4,728.00 baht.
(Principal 3,862.24 baht, accumulated interest for 31 days 42,473.21*24%*31/365= 865.76 baht) remaining principal remaining= 38,610.97 baht
The 4th installment is paid on March 5, 2023. Total payment is 4,728.00 baht.
(Principal 4,017.14 baht, accumulated interest for 28 days 38,610.97*24%*28/365= 710.86 baht) remaining principal remaining= 34,593.83 baht
The 5th installment is paid on April 5, 2023. Total payment is 4,728.00 baht.
(Principal 4,022.85 baht, accumulated interest for 31 days 34,593.83*24%*31/365= 705.15 baht) remaining principal remaining= 30,570.98 baht
6th installment, payable on 5 May 2023, total payment 4,728.00 baht.
(Principal 4,124.96 baht, accumulated interest for 30 days 30,570.98*24%*30/365= 603.04 baht) remaining principal remaining= 26,446.02 baht
Installment number 7, payable on 5 June 2023, total payment 4,728.00 baht.
(Principal 4,188.94 baht, accumulated interest for 31 days 26,446.02*24%*31/365= 539.06 baht) Remaining principal outstanding= 22,257.08 baht
Installment number 8, payable on 5 July 2023, total payment 4,728.00 baht.
(Principal 4,288.96 baht, accumulated interest for 30 days 22,257.08*24%*30/365= 439.04 baht) remaining principal remaining= 17,968.12 baht
Installment number 9, payable on 5 Aug. 2023, total payment 4,728.00 baht.
(Principal 4,361.75 baht, accumulated interest for 31 days 17,968.12*24%*31/365= 366.25 baht) remaining principal remaining= 13,606.37 baht
The 10th installment is payable on 5 Sept. 2023. Total payment is 4,728.00 baht.
(Principal 4,450.65 baht, accumulated interest for 31 days 13,606.37*24%*31/365= 277.35 baht) remaining principal remaining= 9,155.72 baht
Installment number 11, payable on 5 Oct. 2023, total payment 4,728.00 baht.
(Principal 4,547.39 baht, accumulated interest for 30 days 9,155.72*24%*30/365= 180.61 baht) remaining principal remaining= 4,608.33 baht
Installment number 12, payable on 4 Nov. 2023, total payment 4,702.26 baht.
(Principal 4,608.33 baht, accumulated interest for 31 days 4,608.33 *24%*31/365= 93.93 baht) remaining principal remaining = 0 baht
Therefore, the total payment amount of 56,710.26 baht is interest of 6,710.26 baht from the principal of 50,000 baht with an interest rate (EIR) of 24% per year*
The example is just a preliminary calculation. The numbers may change depending on the criteria set by the company.

Company information
- Location: Doctor Money Company Limited (Head Office)
No. 12 Mitraphap Road, Nai Mueang Subdistrict, Mueang Phitsanulok District Phitsanulok Province 65000
- Website: www.drm.co.th
- DRM-Contact Center Tel. [phone]
- Email: [e-mail]
- Line: @doctormoney
- Business hours: 08.00 - 17.00 hrs.

Warning: Borrow only as much as you need and can afford to repay.