Why is Oraan increasing the service fees?
Due to rising inflation, it has become important for us to increase our charges so that we can keep providing the service our community deserves. The new charges will be applied to all OC applications submitted after May 10th, 2023.
Please note that our charges will not affect your current OCs, OC applications in progress or future OCs for which you have been confirmed.
💡Pro tip: We offer discounts on the monthly fee to our loyal members who have high Pay Scores and have saved in an Oraan Committee for 10 months or more. To become eligible for discount, make sure you keep your Pay Score high and keep saving with Oraan. Learn more about discounts.
This will be the our new fee structure for 10 month OCs starting May 10th, 2023.
| Slot | Monthly fees as a percentage of your Payout amount It is added to your monthly installment amount and is due every month. |
| 1 | 2.1% |
| 2 | 1.9% |
| 3 | 1.7% |
| 4 | 1.4% |
| 5 | 1% |
| 6 | 0.6% |
| 7 | 0 |
| 8 | 0 |
| 9 | 0 |
| 10 | 0 |
And this will be our new fee structure for 5 month OCs
| Slot | Monthly fees as a percentage of your Payout amount It is added to your monthly installment amount and is due every month. |
| 1 | 2.1% |
| 2 | 1.8% |
| 3 | 1.4% |
| 4 | 0 |
| 5 | 0 |