Celsius is now automating this process and it will be an in app feature soon.
But for now, here is what you need to do. Send an email to our loans team at email@example.com stating all of the 3 pieces of information below.
- Ensure that at least 6 months of the loan interest payments have been paid. This is a minimum requirement for all of our loans. If you haven't paid 6 months of interest, just let us know in which coin you'd like to pay the missing interest payments and we can deduct it from your Celsius wallet.
Have enough of the stablecoin in your wallet to cover your principal payment. Keep in mind that we need to receive your principal payment in the same currency that we send it to you (i.e. if your loan is a USDC loan, you'll need to have enough USDC in your Celsius wallet to repay the loan).
Reason for closing the loan.
And that is all you need to do. Our team will take it from there!
Please note that it can take up to 7 days to close your loan.
Also keep in mind that, when paying off your stablecoin loan, you must remember that regarding principal payments, you pay the loan back as a lump sum, in one go, at the end of a loan's term, not in monthly payments. What you do pay on a monthly basis is the interest on your loan.
For any additional information, please contact our loans team at firstname.lastname@example.org.