| Product | Interest due | Interest payment methods3 | Principal due6 | Principal payment methods |
|---|---|---|---|---|
| Line of credit | Billed on the 1st and due on the 15th1 unless rolled over2 |
|
No principal due date |
|
| 12-month loan | Monthly or at maturity |
|
12-month maturity date, unless refinanced |
|
1 You can also pay current-cycle accrued interest early.
2 If you roll interest into your line of credit principal, you must use another payment method at least once every rolling 12 months. Otherwise, interest accrued on the 12th month is charged to your cash balance. If using your line of credit would trigger a margin call, or you are already in one, your cash balance is charged instead.
3 You can change the interest payment method at any time. You can't split a payment between methods.
4 Paying from bitcoin balance or collateral sells bitcoin to process the payment in cash. Fees may apply, and the sale may be a taxable event.
5 With direct deposit, each paycheck first pays down your outstanding line of credit principal balance. Any remainder is then deposited according to your Get Paid in Bitcoin allocation.
6 You can repay any percentage of your loan or line of credit at any time, and any principal you repay stops accruing interest.
Monthly statements are available in the mobile app at Documents > Loan documents and in the Strike Dashboard.
Interest or maturity payments can fail due to insufficient cash or bitcoin balance, a disconnected or invalid linked bank account, or if the deposit limit has been reached. If you experience repeated issues, contact support.
If you miss a payment, you have a 10-day grace period. After that, enough bitcoin collateral will be liquidated to cover the overdue amount.