dermot
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Post by dermot on Jan 8, 2018 11:22:21 GMT
Most of this loan starting December 8 has just repaid today.
In the loan description, it says that "lenders will receive a commitment of 3 months", although only two months have passed.
Does this mean that lender interest will continue to accrue until 8th Feb and be repaid then?
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Post by GSV3MIaC on Jan 8, 2018 14:06:33 GMT
If you really mean DECEMBER 8th, then it is just one month today, and three months takes you out to March, unless leap-seconds are well out of control.
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stub8535
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Post by stub8535 on Jan 8, 2018 14:10:52 GMT
Most of this loan starting December 8 has just repaid today. In the loan description, it says that "lenders will receive a commitment of 3 months", although only two months have passed. Does this mean that lender interest will continue to accrue until 8th Feb and be repaid then? My maths makes the interest payment 2.4% which is 3 months at .8% a month. Are you getting it as something else dermot?
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stub8535
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Post by stub8535 on Jan 8, 2018 14:11:44 GMT
Most of this loan starting December 8 has just repaid today. In the loan description, it says that "lenders will receive a commitment of 3 months", although only two months have passed. Does this mean that lender interest will continue to accrue until 8th Feb and be repaid then? My maths makes the interest payment 2.4% which is 3 months at .8% a month. Are you getting it as something else dermot? Loan started Nov 8th.
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dermot
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Post by dermot on Jan 8, 2018 14:58:52 GMT
My maths makes the interest payment 2.4% which is 3 months at .8% a month. Are you getting it as something else dermot ? Loan started Nov 8th. Yep, my mistake - started Nov 8th so, as I mentioned in my original post, only two months have passed so far.
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dermot
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Post by dermot on Jan 8, 2018 15:01:20 GMT
If you really mean DECEMBER 8th, then it is just one month today, and three months takes you out to March, unless leap-seconds are well out of control. November and, as mentioned in my original post, the loan has run for two months so far. My original question still stands, however, do we get paid for a total of three months interest at the end of the "three months commitment" period in February?
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
Posts: 1,442
Likes: 945
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Post by stub8535 on Jan 8, 2018 16:18:44 GMT
If you really mean DECEMBER 8th, then it is just one month today, and three months takes you out to March, unless leap-seconds are well out of control. November and, as mentioned in my original post, the loan has run for two months so far. My original question still stands, however, do we get paid for a total of three months interest at the end of the "three months commitment" period in February? At 2.4% paid in interest on today's returned funds it would seem we have had our early interest on the bulk repaid. The rest will continue to accrue interest until repaid.
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