While interest is charged monthly, M1 Margin Loans do not have a fixed repayment schedule, and you can repay the principal on your terms (except in the case of a maintenance call).
To make a payment, visit Borrow and select "Pay Back."
You will be shown your current amount borrowed. Enter the amount you would like to pay back and select whether you would like to pay back the amount from your external bank, your Individual/Joint Brokerage Account or Trust Account the Margin Loan is from.
If you select your Individual/Joint Brokerage Account or Trust Account the Margin Loan is from, your cash will be used first, but if your cash balance is lower than the amount you want to pay back, we will sell from your portfolio to make up the difference.
After you review and confirm your changes, you will be able to view the payback schedule under Transfers.
Brokerage accounts on the M1 platform are either fully disclosed to APEX Clearing or cleared through M1 Finance LLC. Please look at your account statement to determine how your account is cleared.
All investing involves risk, including the risk of losing the money you invest. Past performance does not guarantee future performance. Using margin can add to these risks. Users utilizing APEX cleared margin accounts should review the APEX margin account risk disclosure before borrowing. Users utilizing M1 cleared margin accounts should review the M1 margin account risk disclosure before borrowing. M1 Margin Loans are available on margin accounts with at least $2,000 invested per account. Not available for Retirement or Custodial accounts. Margin rates may vary.
Brokerage products and services are offered by M1 Finance LLC, Member FINRA / SIPC, and a wholly owned subsidiary of M1 Holdings, Inc.
All examples above are for informational purposes and should not be considered an offer to buy or sell certain securities. M1 does not provide investment advice.