At Unloan, we calculate repayments by dividing the monthly payment amount by two for fortnightly payments or by four for weekly payments.

This approach results in slightly higher repayments, allowing you to pay off more of your loan sooner and reduce the total interest paid overtime. Additional payments will further decrease the interest you owe, as interest is calculated daily and charged monthly. Your regular repayment amount remains consistent, based on the initial loan balance, but the actual interest charged can vary due to several factors.

Learn more about the different types of repayments and how to set up AutoPay to ensure you never miss a repayment with us.

Check out our Repayments Calculator to see how much you repayments could be if you switched to Unloan.