There are three main repayment methods of Xiaomi loan, namely, equal monthly payment-with the loan, equal monthly payment-on schedule, interest first and then principal. The interest of different repayment methods is also different, as follows:

1, equal amount per month-you can borrow it and pay it back, that is, within the repayment period, you can repay the loan with equal amount (including principal and interest) every month, and there is no penalty for early repayment.

2. Equal monthly payment-repayment on schedule, that is, within the repayment period, the same amount of loans (including principal and interest) will be repaid every month. However, it should be noted that if you choose this repayment method, you will be charged a penalty of 3% of the prepayment principal for prepayment.

3. Pay interest first, that is, pay interest every month during the repayment period, and return the principal in the last installment.

It should be noted that the time of the first loan may be less than or more than one month, and the repayment amount of the first loan may be inconsistent with the number of subsequent loans. Therefore, before the repayment date indicated in the App, sufficient amount needs to be reserved in the bound loan bank card, and Xiaomi loan will be automatically deducted on the repayment date.