Loan Defaults

Loan repayment can be made at any point during the lifetime of the loan, and the interest will be calculated effectively to the repayment date.

Loan repayment must be made at the latest on the last day of the duration period. Otherwise if the loan duration has lapsed the loan will default and the collateral is seized. This means the collateral is transfered to the Lender in lieu of the loan repayment.