Repayment is done via monthly instalments composing of the principal and interest over the duration of the loan tenor.
When is my due date?
The first (1st) Periodic Repayment Date shall be due and payable in the following manner according to the Disbursement Date:
Disbursement/Funding Date | (1st) Repayment Date |
1st - 7th of the month | 1st of the following month |
8th - 22nd of the month | 15th of the following month |
23rd - 31st of the month | 1st of month after the following month |
Please refer to your loan agreement for the funding/disbursement date, and use the table above to determine repayment date of each periodic repayment date.
How do I check my repayment schedule and the amount?
You can refer to your loan agreement for amount of repayment for each periodic repayment or login to Elevate website and navigate to the Financing section to view the repayment schedule.
What happened when I missed my repayment due date?
Missing a repayment can lead to a few extra charges, as outlined in your loan contract:
Late interest / Late Repayment Interest, please refer to your loan contract for detailed information on fees and charges.
Late Administrative Fees / Late Repayment Administrative Fees, please refer to your loan contract for detailed information on fees and charges.
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