There are three options to repay your loan:

  • regular scheduled repayment (by default)

  • partial repayment

  • full early repayment

Let’s take a closer look at each option.

Regular Scheduled Repayment

You don’t need to take additional steps to choose this repayment method, as it’s the default option. It’s great for those who borrow funds and make payments according to the schedule.

How to make a Regular Scheduled Repayment

Note: If you have the needed sum for a Regular Scheduled Repayment in your Wallet, it will be automatically deducted without any fees.

Web platform

  1. Log in to your CoinLoan account.

  2. Go to the Loans module or follow the link.

  3. Choose your loan to make a payment for and click the Repay button.

Loans — Web platform

⠀⠀4. Pick the Regular Scheduled Repayment option.

Loan Repayment options — Web platform

⠀⠀5. Select the most convenient repayment option: in loan currency, loan collateral, or other asset, depending on the assets you have in your Wallet.

Regular Scheduled Repayment — Web platform

⠀⠀6. Confirm your repayment by hitting the Confirm Repayment button.

Mobile app

  1. Open the app on your iOS or Android device.

  2. Go to the Loans module.

Loans — Mobile app

⠀⠀3. Choose the desired loan.

⠀⠀4. Scroll down the module and hit the Repay the Loan button.

Repay the Loan button — Mobile app

⠀⠀5. Pick the Regular Scheduled Repayment option.

Loan repayment options — Mobile app

⠀⠀6. Choose the repayment option: in loan currency, loan collateral, or other asset, depending on the assets you have in your Wallet.

Regular Repayment options — Mobile app

⠀⠀7. Check the Repayment Summary and click the Pay button.

Pay button — Mobile app

⠀⠀8. All done! Your repayment is completed.

Repayment confirmation screen — Mobile app

Note: If your Interest Payment amount is less than the minimum exchange amount for a certain asset, you won’t have an option to pay in that asset.

Full Early Repayment

The full early repayment option is available without any fees or penalties. It is mostly used in two cases:

  • When a customer borrows money for a specific purpose and repays the loan fully when it’s no longer relevant

  • When a collateral asset’s value drops significantly and a user makes a full early repayment to avoid loan liquidation.

How to make a Full Early Repayment

Web Platform

  1. Log in to your CoinLoan account.

  2. Go to the Loans module or follow the link.

  3. Choose your loan and click the Repay button.

Loans — Web Platform

⠀⠀4. Pick the Full Early Repayment option.

Loan Repayment options — Web platform

⠀⠀5. Select the most convenient early repayment method: in loan currency, loan collateral, or other asset, depending on the assets you have in your Wallet.

Full Early Repayment options — Web platform

⠀⠀6. Confirm repayment by hitting the Confirm Repayment button.

Confirming Full Early Repayment — Web platform

⠀⠀7. All done! Your Full Early Repayment is complete.

Mobile app

  1. Open the app on your iOS or Android device.

  2. Go to the Loans module.

Loans — Mobile app

⠀⠀3. Choose the desired loan.

⠀⠀4. Scroll down the module and hit the Repay the Loan button.

Repay the Loan button — Mobile app

⠀⠀5. Pick the Full Early Repayment option.

Loan repayment options — Mobile app

⠀⠀6. Choose the repayment option: in loan currency, loan collateral, or other asset, depending on the assets you have in your Wallet.

Full Repayment options — Mobile app

⠀⠀7. Check Repayment Summary and tap the Pay button.

Pay button — Mobile app

⠀⠀8. All done! Your repayment is completed.

Repayment confirmation screen — Mobile app

Partial Repayment

The Partial Repayment option is beneficial for the users who want to deposit a flexible sum ahead of the scheduled payment. The feature is also meant to decrease interest rate and LTV. The lower the LTV, the less the loan liquidation risk, which is important in case of a market crash. See our article about LTV for more info.

Note: You can repay partially in the loan currency only.

How Partial Repayment works

When repaying a loan partially, first, the remaining interest is repaid. If the repaying amount exceeds it, the residual amount is used to repay the remaining principal. If the remaining interest has been fully repaid, the entire amount is used to repay the remaining principal.

Web platform

  1. Log in to your CoinLoan account.

  2. Go to the Loans module or follow the link.

  3. Choose your loan and click the Repay button.

Loans — Web Platform

⠀⠀4. Pick the Partial Repayment option.

Loan Repayment options — Web platform

⠀⠀5. Enter the amount of your loan currency in the repayment form. The sum you pay might contain interest and principal repayment, depending on the amount you deposit.

Note: There’s no minimum limit – you can pay as much as you’re comfortable with.

Partial Repayment — Web platform

⠀⠀6. Confirm repayment by hitting the Confirm Repayment button.

Confirming Repayment — Web platform

⠀⠀7. All done! Your partial repayment is complete.

Mobile app

  1. Open the app on your iOS or Android device.

  2. Go to the Loans module.

Loans — Mobile app

⠀⠀3. Choose the desired loan.

⠀⠀4. Scroll down the module and hit the Repay the Loan button.

Repay the Loan button — Mobile app

⠀⠀⠀5. Pick the Partial Repayment option.

Loan repayment options — Mobile app

⠀⠀6. Enter the amount of your loan currency in the repayment form. The sum you pay might contain interest and principal repayment, depending on the amount you deposit.

Note: There’s no minimum limit – you can pay as much as you’re comfortable with.

Partial Repayment — Mobile app

⠀⠀⠀⠀7. All done! Your repayment is completed.

Repayment confirmation screen — Mobile app

Repayment Schedule

You can always find your payment schedule by going to the Loans module. Just choose the desired loan on the web platform and switch to the Repayment Schedule section.

Repayment Schedule — Web platform

In the mobile app, choose the desired loan, scroll down the Active Loan screen, and click View Schedule.

View Schedule — Mobile app

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