With the new Tala loan features, you have the freedom to select your repayment date, up to a max of 61 days. The good thing is, you’re not locked to your selected date and you can adjust your repayment depending on your needs. Below are some tips on how to repay early to pay less on your Tala loan.
1. The earlier you repay, the less interest you will owe
Your interest is charged daily, so when you repay earlier, you’ll pay less interest. This way, you will be able to save more and use your cash for other important expenses.
2. Repaying earlier or on time can help grow your Tala loan limits over time
The best way to grow your Tala loan limit is to consistently repay your loans on or before your selected date. Over time your loan limit will grow. Your first loan with Tala is only the initial stepping stone!
Most Tala customers double their loan limits in only 2 months. You can achieve that too!
3. Strengthens your credit
By repaying early and often, you are strengthening your credit standing with Tala.
Now that you know how the new Tala loans give you more flexibility and control, you can maximize its features to your advantage.
Borrow what you need, set a personal target date to repay, repay early when you can to pay less, and practice healthy financial habits to lead you on the path to financial growth and success!
You can learn more about our new Tala loans here.