There are three options to repay your loan:

Let’s take a closer look at each option.

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.

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

⠀⠀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.

⠀⠀4. Pick the Regular Scheduled Repayment option.

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

⠀⠀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.

⠀⠀3. Choose the desired loan.

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

⠀⠀5. Pick the Regular Scheduled Repayment option.

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

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

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

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

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

⠀⠀4. Pick the Full Early Repayment option.

⠀⠀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.

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

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

⠀⠀3. Choose the desired loan.

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

⠀⠀5. Pick the Full Early Repayment option.

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

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

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

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.

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.

⠀⠀4. Pick the Partial Repayment option.

⠀⠀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.

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

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

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

⠀⠀2. Go to the Loans module.

⠀⠀3. Choose the desired loan.

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

⠀⠀⠀5. Pick the Partial Repayment option.

⠀⠀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.

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

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.

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