The loan is paid off in one lump sum, and interest needs to be paid when repayment is made. Users choose to pay off the loan in advance, and the loan interest usually ends on the day of repayment or the day before repayment. At the time of repayment, the remaining principal to be repaid and the generated interest shall be paid off together. Only the loan principal is repaid, but the interest is not paid off, so users need to continue to repay in the future.

If the user chooses to pay off the loan in advance, the lending institution will directly calculate the amount paid off in advance, and the user can directly repay the loan according to the amount. As for whether to pay liquidated damages, the loan contract shall prevail.

Interest will also be paid in full in installments in the second month, because interest will be calculated according to the number of installments and the interest rate.