Interest begins accruing on the date of each advance. Interest is calculated using the daily balance method:

  • We start with the unpaid balance for each day (after any payments or credits) since the last payment
  • The balance is then multiplied by the daily periodic rate listed on the loan agreement addendum
An Advantis line of credit typically involves a variable interest rate, which may change on a monthly basis.

Learn more about our line of credit rates.