You can repay loans from your Crypto.com Exchange Spot Wallet. Repayments of any amount can be made at any time during the loan term. Your repayments will be pro-rata (outstanding loan principal and interest) and can only be made in the borrowed crypto asset.
Loan Principal Repayment
= (Outstanding Loan Principal ÷ Outstanding Balance) × (Repayment)
Interest Repayment
= (Outstanding Interest ÷ Outstanding Balance) × (Repayment)
To make a repayment:
Log In to your Crypto.com Exchange account
Go to Dashboard > Lending > Loans
Tap Repay Now to make repayment to your outstanding loan
For example:
A user has an active loan with the following outstanding loan principal and interest.
Outstanding Loan Principal
= 10,000.00000000 USDT
Outstanding Interest
= 3.28767200 USDT
Outstanding Balance
= Outstanding Loan Principal + Outstanding Interest
= 10,003.28767200 USDT
The user now decides to make a repayment of 5,000 USDT. The repayment will be allocated to pay the loan principal and interest on a pro-rata rate.
Repayment
= 5,000 USDT
Loan Principal Repayment
= (Outstanding Loan Principal ÷ Outstanding Balance) × (Repayment)
= (10,000.00000000 USDT ÷ 10,003.28767200 USDT) × 5,000 USDT
= 4998.35670426 USDT
Interest Repayment
= (Outstanding Interest ÷ Outstanding Balance) × (Repayment)
= (3.28767200 USDT ÷ 10,003.28767200 USDT) × 5,000 USDT
= 1.64329574 USDT
After the repayment of 5,000 USDT, the outstanding balance is as follows.
Outstanding Balance
= 10,003.28767200 USDT - 5,000 USDT
= 5,003.28767200 USDT
Outstanding Loan Principal
= 10,000.00000000 USDT - 4998.35670426 USDT
= 5001.64329574 USDT
Outstanding Interest
= 3.28767200 USDT - 1.64329574 USDT
= 1.64437626 USDT