Q: How is interest calculated on the Credit Account?
A: Interest is charged on your used credit starting from the day after you borrow (T + 1).
Daily rate: 0.05 %
Method: Simple interest (interest is always calculated on the original principal).
Note: If a transaction is refunded or reversed, any interest already accrued is not refunded.
Q: How can I make a repayment?
A: You can repay in either of these ways:
Use the balance in your Funding Account.
Use assets held in your Credit Account.
For partial repayments, the system pays interest first, then principal.
Q: Can I repay at any time?
A: Yes — you can repay whenever you like; there is no time limit.
Q: What is simple interest?
A: With simple interest, each day's interest is calculated only on the original principal, not on accumulated interest.
Example:
Principal: 10,000 USD
Daily rate: 0.05 %
Daily interest: 10,000 USD × 0.05 % = 5 USD (The 5 USD from Day 1 is not added to the principal on Day 2.)