No payments, no interest if paid in full within 12 months. Interest accrues during the promotional period but all interest is waived if the purchase amount is paid in full within 12 months. After the 12-month promotional period, the loan converts to a 9.99% installment loan for an additional 48 months, being 60 months in total. There is no payment required during the promotional period, but payments are required after the promotional period expires. There are no prepayment penalties at any time.