Does Meixing Microfinance have interest before capital?

Yes Bank of America Microfinance is a financial company specializing in the field of microfinance, and is committed to providing convenient financial services to individuals and small and micro enterprises in need. In Meixing microfinance, the borrower needs to calculate the monthly interest payable according to the interest rate and loan amount agreed in the contract, and pay the interest to the lending institution before the monthly repayment date. The loan principal is paid off in one lump sum on the maturity date, which is a loan method that pays interest on a monthly basis, repays the principal at maturity, pays the interest first, and then pays the principal. Interest before capital refers to the repayment method of paying interest first and then paying the principal according to the repayment agreement after the loan is issued.