Principal and Interest Components on Payments

A borrower can make payments of any amount up to the total due amount towards the loan. On each payment, the borrower’s payment is first counted towards the interest incurred up to and including the payment date, and any leftover amount is counted towards the principal payment. The start of day for the interest calculation purposes is aligned to the time the loan was borrowed.

Key payments statistics including the interest and principal paid so far is tracked in the loan detail.