Save on fees by repaying your loan principal before the scheduled due date.
Understanding Early Repayment
Tupel charges daily fees based on your outstanding principal. By repaying early, you reduce the total number of days you're charged fees, saving you money.
Step 1: Navigate to Loans
From your entity dashboard, click "Loans" in the left sidebar.
Step 2: Select Your Loan
Click on the loan you want to repay from your loans list. You'll see loans with their day rate, principal amount, current balance, and due date.
Step 3: View Loan Details
On the loan details page, you'll see:
- Outstanding principal amount
- Daily rate (e.g., 0.012%)
- Current balance
- Due date
Step 4: Initiate Early Repayment
Click the repayment option and select "Repay Principal."
Specify how much principal you want to repay. You can make:
- Full repayment: Pay off the entire remaining principal
- Partial repayment: Pay down some of the principal
Use the payment details and reference to make a bank transfer.
Fees Saved
The system will calculate how much you save in fees by repaying early. The earlier you repay, the more you save since daily fees stop accruing on the repaid amount.