What happens if I decide to repay early?
We will only charge you early repayment fees within the first three months of each loan. Please find some examples below:
You are settling your loan in full in month two of your twelve month loan agreement. You’ve only paid your first loan repayment and are now fourteen days away from your second repayment and forty-four days away from your third loan repayment.
Because you are settling your loan within the first three months, we will charge you the remaining interest you were expected to be charged on your next two loan repayments.
You are settling your loan in full in month six of your tweleve month loan, you are fourteen days away from your seventh repayment date. You inform us that you would like to settle your loan in full. We give you the option to settle your loan immediately or settle your loan on your next repayment date.
If you decide to settle immediately, we’ll only ask you to pay the interest you’ve incurred up until the next working day. Alternatively, you may decide to settle your loan on your next repayment date. In that case we take the full expected monthly repayment as usual and close your loan.
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