The interest line is often the one people most want to understand. On a Credicorp facility it’s simple interest, fixed up front, so it should never be a surprise — and it’s easy to check.
What the figure means
The interest shown is the charge for the borrowing over the statement period. On Flex, interest is on the amount actually drawn, for the time it’s drawn — draw less or repay sooner and you pay less. On Slice, the interest is fixed at the outset and spread across the schedule, so each period’s share is predictable.
Checking it
- Compare the interest on the statement to the schedule on your Key Information Sheet.
- For Flex, cross-check against how much was drawn and for how long.
- If it doesn’t match what you expect, raise a query with the period and figure.
Because the terms are fixed and transparent, the interest line is a figure you can rely on and reconcile, not one you have to take on trust.
Your facility is priced with simple interest and the figures fixed up front on your Key Information Sheet, so nothing here changes what you owe by surprise — it only changes how you view, manage or evidence it.
See also: Understanding the charges shown on your statement, How to check a statement line you don’t recognise, What the Key Information Sheet shows.