How much additional interest will I incur for scheduling a recurring late payment?

Because interest accrues daily on the unpaid principal balance, this amount will vary. If you schedule a recurring payment which falls past your due date every month, it is possible that a higher share of your payment will go towards interest than originally calculated, and a lower share will go to principal, and your final payment may be higher than expected. 

Please contact First Federal Bank of Kansas City if you’d like to know the approximate amount of daily interest accrued.

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