You can repay loans from your Crypto.com Exchange Wallet. Repayments of any amount can be made at any time during the loan term. Your repayments of the outstanding loan principal and interest can only be made in the borrowed crypto asset.

Your repayment will be used to first repay all the outstanding interest followed by the outstanding loan principal.

For Example:

Case 1: Outstanding Interest > Repayment

A user has an active loan with the following Outstanding Loan Principal and Interest.

Outstanding Loan Principal

= 10,000.000000000 USDT

Outstanding Interest

= 15.287672000 USDT

Outstanding Balance

= Outstanding Loan Principal + Outstanding Interest

= 10,0015.287672000 USDT

The user now decides to make a repayment of 10 USDT which is less than the outstanding interest amount. The repayment will be allocated to pay the interest first and there will be insufficient repayment amount for the outstanding loan principal.

Since the repayment amount is less than the Outstanding Interest,

Repayment will be allocated fully to Interest Repayment,

= 15.287672000 - 10.000000000

= 5.287672000

Outstanding Interest

= 5.287672000

Repayment allocated to Outstanding Loan Principal

= 0

Outstanding Loan Principal

= 10,000.000000000

Outstanding Balance

= Outstanding Loan Principal + Outstanding Interest

= 10,000.000000000 + 5.287672000

= 10,005.287672000

Case 2: Outstanding Interest <= Repayment

A user has an active loan with the following Outstanding Loan Principal and Interest.

Outstanding Loan Principal

= 10,000.000000000 USDT

Outstanding Interest

= 15.287672000 USDT

Outstanding Balance

= Outstanding Loan Principal + Outstanding Interest

= 10,0015.287672000 USDT

The user now decides to make a repayment of 5000 USDT which is more than the outstanding interest amount. The repayment will be allocated to pay the interest first followed by the repayment of the outstanding loan principal.

Repayment will be allocated fully to Interest Repayment

= 5000.000000000 - 15.287672000

= 4,984.712328000

Outstanding Interest

= 0

Remaining repayment amount after payment of Outstanding Interest

= 4,984.712328000

Repayment allocated to Outstanding Loan Principal

= 4,984.712328000

Outstanding Loan Principal after repayment

= 10,000.00000000 - 4,984.712328000

= 5,015.287672000

Outstanding Balance

= Outstanding Loan Principal + Outstanding Interest

= 5,015.287672000 + 0

= 5,015.287672000

Can I make an early repayment?

You can repay any amount at any time with no early repayment fees. The interest is calculated based on your outstanding loan principal and the number of hours borrowed.

Hourly Interest

= (Outstanding Loan Principal) × (Hourly Interest Rate)

= (Outstanding Loan Principal) × (APR ÷ 365 ÷ 24)

To make a repayment:

  1. Log In to your Crypto.com Exchange account

  2. Go to Dashboard > Lending > Loans

  3. Tap Repay Now to make repayment to your outstanding loan

Did this answer your question?