- Knowledge Base
- Loans
- Understanding loans
How are Unchained loan payments structured?
Payments are interest only and due every 30 days with a final lump sum payment due at the end of the term. There are no penalties for early payoff.
The below table shows the following loan term:
- Principal: 10,000 USD
- Term: 360 days
- Interest Rate: 15.00%
- Origination Fee: 1.50% (paid upon disbursement of funds)
- APR: 16.66%
Billing Period* | Payment Due | Remaining Principal |
1 | $123.29 | $10,000.00 |
2 | $123.29 | $10,000.00 |
3 | $123.29 | $10,000.00 |
4 | $123.29 | $10,000.00 |
5 | $123.29 | $10,000.00 |
6 | $123.29 | $10,000.00 |
7 | $123.29 | $10,000.00 |
8 | $123.29 | $10,000.00 |
9 | $123.29 | $10,000.00 |
10 | $123.29 | $10,000.00 |
11 | $123.29 | $10,000.00 |
12 | $10,123.29 | $0.00 |
*Please note that each billing period is 30 days in length. This table is for illustration purposes only and may not be representative of approved loan terms.