Interest is calculated on a daily basis and it is based on the amount you have invested in loans on the respective day. The formula for calculating interest is as follows: Invested Amount * Days since Investment * (Interest Rate / 360).
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How is interest calculated?
Articles in this category
- When do I receive penalty fees?
- An investment was late but I did not receive a penalty fee. How can that happen?
- What is a penalty fee?
- Will I continue to get interest if a loan is late?
- What is skin in the game?
- Can I make a deposit from a bank account that is not in my name?
- What is cashback?
- Can I see which company am I funding?
- What happens if a borrower decides to pay back earlier?
- What default rate can I expect? See more