Repaying
This page walks you through how to repay a loan on Silo. We will repay an ETH loan from the USDC Silo as an example.

1. Navigate to Dashboard to view open positions

Connect your wallet and click on the ‘Dashboard’ icon at the top of the page to view all your open deposit and borrow positions.

2. Click the ‘Repay’ button on the Token Asset you wish to repay

The screen now shows all your open deposit and borrow positions under each Silo.
Click the ‘Repay’ button next to the asset you wish to repay.

3. Repay ETH

This will take you to the ‘Repay’ page of the USDC Silo.

4. Look at the effect of the withdrawal on your Health Factor

When you enter an amount to repay, the Health Factor changes depending on the amount you wish to repay.
You can adjust your withdrawal amount to see its effect on your Health Factor. Click on ‘Max’ if you wish to repay your entire outstanding loan. Repaying your entire loan brings your Health Factor back to 100%.
If you decide to make a full repayment of your borrowings, clicking on 'Max' will display a total amount that includes both the principal sum and the interests accrued at that point of time.

5. Submit your Repay transaction

If you are happy with your repayment amount and new Health Factor, click the ‘Repay’ button. You will be required to pay a gas fee for the transaction.
Once your repayment is successful, you will receive a prompt saying ‘Transaction Successful’.
Your borrow position in the Silo will now be updated for your repayment.

Amount Owed vs. Amount Borrowed

When you look at your Amount Owed compared to your Amount Borrowed, you will notice that these two amounts are different. The Amount Borrowed reflects your initial borrow amount only and does not account for interest you may have accrued.
Amount Owed is the sum of your Amount Borrowed and any interest you have accrued due to your borrow position. Clicking on Max will set your repay amount to Amount Owed, allowing you to fully clear your loan position.

Full Repayment

When you choose to repay your loan fully, Silo will help you pay the entire amount without leaving behind a small unpaid amount, also called dust.
How can you leave behind unpaid amounts when you repay fully?
That can happen in two ways:
  • You manually enter a slightly smaller amount than the value of your outstanding loan.
  • You enter the correct amount you owe but your loan has accrued more interest by the time you submitted the transaction—your loan accrues debt every block (roughly 12-14 seconds).
To prevent leaving dust behind, Silo will close your entire loan when it is within $1 of the amount you are attempting to repay. Although the UI might display a slightly larger amount than your total outstanding loan, you will always repay the exact amount you owe.