How to repay your loan
Repayment options
Bitnob offers flexible repayment options:
- Interest-only payments: Pay only the interest each month
- Partial principal payments: Pay down the loan gradually
- Full repayment: Pay off the entire loan anytime without penalties
- Auto-pay: Set up automatic monthly payments
How to make a payment
To repay your loan:
- Go to Lending > My Loans
- Select the loan you want to repay
- Click "Make Payment"
- Choose the payment amount (minimum, partial, or full)
- Select the wallet to pay from
- Confirm the payment
Payments are processed immediately and your collateral is adjusted accordingly.
After full repayment
When you fully repay your loan:
- Your collateral is automatically released from escrow
- The crypto is returned to your Bitnob wallet
- The loan is marked as paid in your history
- You can withdraw or use your crypto immediately
- You're eligible to apply for new loans
Note: Early repayment has no penalties. You can save on interest by paying off your loan early.