Partial Loan Repayment is now live
Loan repayment usually requires making a transfer monthly by the end of the term or covering the entire amount prematurely. CoinLoan was no exception. However, we saw a rising demand for a flexible system allowing partial repayment. We believe that a great product comes from an even greater understanding of our users. So, we answered the call.
From now on, you have three loan coverage options to choose from:
- Full early repayment
- Regular scheduled payment
- Partial repayment
If you took out loans using our platform, you are already familiar with the first two options. If you did not, learn more about them here.
Partial Loan Repayment
With partial loan repayment, you can cover a certain part of the loan early. It may contain an interest for the current period plus a loan principal. The amount has no assigned minimum – you can deposit as much as you like.
Note: currently, the feature is available on the web platform only. It will arrive in the mobile app with subsequent updates.
How to Repay Partially
- Go to My Loans and press the Repay button.
2. On the new page, choose the Partial Repayment option.
3. Adjust the payment settings.
4. Press Confirm Repayment.
Note: You can repay partially in the loan currency only.
If you have any additional questions on the topic, please don’t hesitate to reach out to our support team at firstname.lastname@example.org – we will be happy to assist. Stay tuned!