We strongly encourage you to select a due date that aligns with your income cycle and to repay your loan on or before your selected due date. You can also make partial payments to reduce your balance. However, if you aren’t able to pay by midnight on your due date, you will be charged a one-time 5% late fee on your outstanding balance. While other lenders charge a late fee for every day that you are late, Tala’s only charges a one-time late fee and the sooner you pay back, the better your chances of getting another loan with Tala.