How Does Earnest Calculate Interest?

To calculate your accrued interest, we use the "simple daily interest" method. This means that interest accrues each day in an amount equal to 1/365 times your APR multiplied by your remaining principal owed.

Because Earnest does not charge origination fees, our interest rates are usually equal to our APR, or "annual percentage rate."

Contact us!

We're not around, but we'd love to chat another time. Feel free to email hello@meetearnest.com if you need help now!