The question was: "How does the interest on the loan of an advance payment count?" Let me show you something. Did you know to borrow it? Don't forget, it's a consumer credit star product in an ant gold suit. Many poor friends can borrow some money here, easily search for bills and make repayments。

How do you calculate interest by borrowing interest on an advance payment

The reference to early repayment is a choice for those involved. By definition, interest on early repayment is calculated on the number of days you actually borrowed until the day you paid early. Note, however, that if you pay in part in advance, the rest of the borrowing will give rise to interest in future days, and this principal will be rewritten in your subsequent bill until the last day of the repayment。

“Does it have an impact on early repayments?” So easy to clear the debt is doubtful. Indeed, borrowing does not create problems for early repayments, which validates its principle of on-call repayment. Is the doubt over? It's like you borrowed $5,000, the daily rate of the loan was three percent. It was supposed to be three months, and then it was too long, and it was paid out in 20 days, so in theory you had to pay only thirty。

Last but not least, whether you pay it on the day of repayment or a few days in advance, it will not be a problem if it is paid by the due date. But if you fail to pay on time, that's another matter. You will have to pay 1.5 times the normal interest rate as a penalty, and your personal credit will be affected as well, the sesame credit score may decline and your overdue information will be recorded in your letter report. In addition, your borrowing functions may be restricted, your level may be reduced or even frozen, and your borrowing activities with other financial institutions may be hampered。