How do I repay the loan and associated fees on the platform?

How do I repay the loan and associated fees on the platform?

Repaying a loan, including any associated fees, on the Aconomy platform is essential to maintaining your financial obligations and ensuring a smooth lending and borrowing experience. Follow these steps to repay the loan and fees:


  1. Borrower's Responsibility

As a borrower, you are responsible for repaying the borrowed funds and any applicable fees before the due date outlined in your lending agreement.


  1. Access Your Borrowed NFT

Log in to your Aconomy profile, where you can manage your borrowed Pi-NFTs. Find the Pi-NFT that you borrowed against.


  1. Initiate Repayment

On the details page of the borrowed Pi-NFT, you'll see an option to "Payback" or "Repay." Click on this option to start the repayment process.


  1. Confirm Repayment Details 

A repayment card or message will appear, displaying the total amount to be repaid, including the loan amount and any associated fees. Review these details carefully to ensure everything is correct.


  1. Confirm and Sign

To complete the repayment, sign the transaction using your wallet. This confirms your intent to repay the loan and associated fees according to your lending agreement.


  1. Funds Repaid

Once you have successfully confirmed and signed the repayment transaction, the borrowed funds and fees will be returned to the lender, fulfilling your financial obligation and concluding the lending agreement.


By following these steps, borrowers can easily repay their loans and associated fees, ensuring a positive experience on the Aconomy platform. Timely repayment is crucial for building trust and maintaining a reliable reputation within the platform's lending and borrowing ecosystem.

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