diff --git a/common/loans.ts b/common/loans.ts
index cb956c09..05b64474 100644
--- a/common/loans.ts
+++ b/common/loans.ts
@@ -10,7 +10,7 @@ import {
 import { PortfolioMetrics, User } from './user'
 import { filterDefined } from './util/array'
 
-const LOAN_DAILY_RATE = 0.01
+const LOAN_DAILY_RATE = 0.02
 
 const calculateNewLoan = (investedValue: number, loanTotal: number) => {
   const netValue = investedValue - loanTotal
diff --git a/web/components/profile/loans-modal.tsx b/web/components/profile/loans-modal.tsx
index 945fb6fe..07853162 100644
--- a/web/components/profile/loans-modal.tsx
+++ b/web/components/profile/loans-modal.tsx
@@ -15,7 +15,7 @@ export function LoansModal(props: {
         <Col className={'gap-2'}>
           <span className={'text-indigo-700'}>• What are daily loans?</span>
           <span className={'ml-2'}>
-            Every day at midnight PT, get 1% of your total bet amount back as a
+            Every day at midnight PT, get 2% of your total bet amount back as a
             loan.
           </span>
           <span className={'text-indigo-700'}>
@@ -34,12 +34,12 @@ export function LoansModal(props: {
           </span>
           <span className={'text-indigo-700'}>• What is an example?</span>
           <span className={'ml-2'}>
-            For example, if you bet M$1000 on "Will I become a millionare?" on
-            Monday, you will get M$10 back on Tuesday.
+            For example, if you bet M$1000 on "Will I become a millionare?", you
+            will get M$20 back tomorrow.
           </span>
           <span className={'ml-2'}>
-            Previous loans count against your total bet amount. So on Wednesday,
-            you would get back 1% of M$990 = M$9.9.
+            Previous loans count against your total bet amount. So on the third
+            day, you would get back 2% of M$(1000 - 20) = M$19.6.
           </span>
         </Col>
       </Col>