You're thinking about early repayment of borrowed funds, and you're not sure how this will affect your interest burden? Simply put, if you choose to repay all or part of the amount before the maturity of the loan, the interest you pay on this portion of the amount will be reduced accordingly. If, for example, you were to borrow for six months and repay it in full in one month, the amount of interest to be paid would certainly be significantly reduced. Please note, however, that some additional fees may have to be paid in advance, so you have to calculate and ensure that it is really cost-effective. Moreover, early repayment of borrowing may affect to some extent the level of credit you are borrowing, as it may be seen as a sign that your need for borrowing has diminished。

Will the interest on loan or early repayment be reduced

How do you do this in advance? It's very simple, first you need to log in and then choose the option on the front page. After entering the loan-to-pay page, select [the amount due in the current period] and then click on the early repayment option. In this process, the principal amount of your current arrears, as well as the interest incurred, will be automatically calculated and will be paid in conjunction with your repayment。

Please note, however, that even if you had returned all of the current period's arrears, the remaining principal would continue to generate interest and would need to be reimbursed upon expiry. If you have opted for a one-time settlement of all the borrowings, then, of course, the interest payable is calculated on the basis of the number of days you actually spent. In general, the borrowing of early repayment services can help you to return some or all of the loans in order to reduce the interest to be paid。