Annual Percentage Rate (APR) starts at 5.9% when you are either repaying your loan using NEXO Tokens or for the part of the loan that is backed by NEXO Tokens (the two cannot be combined). Annual Percentage Rate, when not utilizing NEXO Tokens, is 11.9%.
Interest is charged daily at 00:00 CET on the outstanding balance and is debited from your available loan limit. In other words, interest is added daily to your outstanding balance.
To learn more on how to use Nexo tokens to take advantage of the 5.9% interest rate, please click here.