How interest is computed for Product Loan?

For Product Loans, interest is based on the amount you borrowed, usually from 3.9% up to 7%, plus a one-time origination fee {link} that helps cover processing costs. The exact rate is shown in your loan agreement, boss.

This fee is added to your loan and spread out across your monthly payments.

Interest is calculated daily based on your remaining balance. On your due date, the interest for the period is added to your bill and paid first. As your balance goes down, the interest charged also gets smaller.