How much additional interest will I incur for scheduling a recurring late payment?

Because interest accrues daily on the unpaid principal balance, this amount will vary. If you schedule a recurring payment which falls past your due date every month, it is possible that a higher share of your payment will go towards interest than originally calculated, a lower share will go to principal, and your final payment may be higher than expected.

Was this article helpful?

Can’t find what you’re looking for?

Our customer care team is here for you.