In order to spread out their payments, borrowers can repay in equal monthly installments over a period of 1 month. Make sure you understand the implications of not paying back. Extra interest may accumulate if you are unable to repay your loan on time. Additionally, your credit rating would drop, thus harming your prospects of obtaining a loan in the future. If you'd want to, you can always make an early repayment. You can avoid paying interest if you do.