A repayment schedule details how the borrower will pay back the loan over time. Common types include:
Installment Payments: Regular, fixed payments (usually monthly) that include both principal and interest.
Lump Sum Payment: The entire principal and any accrued interest are repaid on a specific date.
Interest-Only Payments: Regular payments covering only the interest, with the principal due on a later date.
Me2You’s template allows you to customize the repayment schedule to suit your arrangement.