Interest is calculated daily. The amount you repay each interval - weekly, fortnightly or monthly will be the same.
We calculate these repayments based on the duration of your loan, the number of repayment instalments and the rate of interest.
While the amount paid for each repayment remains the same, the principal increases each interval while the interest element drops until the loan is fully repaid. You only ever pay interest on the amount outstanding.
An example repayment schedule can be found at https://business.zip.co/