Term Loans
Term loans are paid in monthly instalments, which are due on either the 1st or 15th of the month to allow for GIRO deductions from the borrower's bank account. 

Term loan repayments are updated to your available account balance twice a month, either 8th of the month (or next business day if it falls on a weekend) for all loans due on 1st of the month, or 23rd of the month (or next business day if it falls on a weekend) for all loans due on the 15th of the month. 

The monthly amount is calculated by the formula:

[(principal invested + simple interest earned) / number of months in tenor] - 18% of interest component of instalment as service fees

Invoice Financing
Invoice financing are repaid in bullet form (i.e. one-off full payment at the end of contract), which be 30 days, 45 days, 60 days, 90 days, or 120 days after the funds have been disbursed. These repayments do not follow the 1st or 15th due dates that term loan installments do. These are usually reflected in your available account balance the next business day from when we receive the borrower's repayments. 

The repayment amount is calculated by the formula:

(principal invested + simple interest earned) - 18% of interest component as service fees

The status of each loan you invested in can be found on the 'Portfolio' page of your account. Scroll down to the loan table section of the page to view all of your invested loans and their repayment details.

UNPAID - repayment not due yet

PAID - paid on time

PARTIAL PAID - paid partially and remainder is still due

P.E.R - paid early repayment 

LATE REPAID - paid past the 7 day grace period

MISSED - repayment has missed the due date and 7 day grace period

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