FAQ Tags: Interest

How is monthly interest accrual handled?

Created February 17, 2021 - 19,895 Views

Interest is automatically accrued (added to the balance of your account once a month) - you do not need to manually add the interest charges. The day of your account's due date is used as the accrual date. For example, if you have an account that is due on 3/29, the interest will be accrued every mo...read more

Does Undebt.it support multiple interest rates?

Created February 19, 2021 - 25,300 Views

Undebt.it does not yet support multiple, tiered interest rates. However, it's high on my list of things to do. One thing you can do in the meantime is figure out the weighted interest rate of the tiers and use that as your interest rate. Tiered interest rates are when you have an account with some ...read more