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Are the any prepayment fees or loan instalments?

No, there are no prepayment fees. You can repay your outstanding balance, in part or completely, at any time and save on interest since you only any interest for the period you borrowed.

There is no minimum repayment amounts and no instalment payments. You can make repayments at any time. Interest is charged daily on the outstanding balance and is debited from your available loan limit.

We plan to introduce Installment Loans later in 2019.

Please note that if you repay a loan within 30 days of the last withdrawal, you will be charged interest for the full 30 days. Repayments will be used to cover the earliest loan withdrawals and to pay off interest before the principal.

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