Interest
The Wallet Line of Credit has an annual interest rate of 10% APR. Interest will post daily so you can always see your exact outstanding balance. (Interest starts accruing the day after your payout.)
Monthly Payments
Your monthly minimum payment each month is 2% of the outstanding balance at the end of the previous month.
Example: If you borrow $10,000.00 on June 1, and borrow no more money and do not make any repayments in June, your closing balance on June 30 will be $10,079.62, and your minimum monthly payment for July will be $201.59
All payments made reduce the current outstanding balance as soon as they are posted.