How is the monthly due amount calculated?

The monthly due amount shown on your statement is how much you will need to pay per month, over the full repayment term (the length of your loan) in order to repay all fees, principal amounts and interest accrued over time.

For the purposes of loan repayment estimates, this monthly amount assumes that the base rate (Libor index) of your loan does not change over time.

Each of your monthly repayments goes towards paying back a portion of your principal loan amount and interest accrued to date (plus any outstanding payments should you be behind schedule with your repayments).

Was this article helpful?
3 out of 4 found this helpful
Have more questions? Submit a request


Article is closed for comments.