[sznnblood]

computed from the due date or the actual date of payment? I can't seem to find any banking regulations on this. My bank starts with date of payment, so when I pay early, then the next month's interest is even higher if I pay on due date.

[bobby d]

It's usually computed on average monthly balance (i.e. balance each day divided by 30). So, it's usually better to pay early and thus lower the average balance.

[stan c]

If you have a simple interest loan, If the payment is due on the first of each month, it must be received on or before the first. If you go past that date, you are charged add'l interest every day until paid. It's called per-diem. You should request an amortization that will give you a break down between interest/principal.