If you choose to pay the loan off early, the total cost could be lower than the disclosed finance charge amount stated in your Truth-in-Lending Disclosure. Loans offered through Upgrade do not have prepayment fees, so you can pay your loan off at any time!
The interest on your loan accrues daily. It is calculated on a 30 day month/360 day year basis for each partial month based on the annual percentage rate disclosed on your Truth-in-Lending Disclosure. For example, if you choose to pay off the loan in a year, you will only pay interest for that year.