Interest on your open loan starts accruing daily when you open a loan, and is debited at the end of each month during the life of your loan. There is no action you will need to take during interest payment periods; we will debit owed interest directly from the collateral you deposited at the collateral's fair value. This means that you will not need to make regular interest payments using the USD Digital you borrowed. It’s yours to use.
The interest rate that you agree to when opening your loan will not change as long as that loan remains open. The rate presented to you on the confirmation screen is a fixed annual percentage rate (APR). This is the fixed yearly interest rate applied to the loan that you have received.