How much will it cost to settle my loan and close it early?

The quickest way to get your settlement figure and close your loan account is by using the App or Anytime Internet Banking, where you can get your quote straight away.

 

Here are the steps to follow for the App:

1. Log in to the App

2. Tap on your ‘loan account’.

3. Tap ‘See payment options’

4. Tap ‘Repay loan in full’.

5. On the ‘Pay off your loan’ screen, tap ‘How to pay’ and then tap ‘Get my quote’.

6. Your settlement quote including any early repayment fees will be shown in the journey (you will be able to download a PDF – as well as decide whether you want your quote delivered digitally as a PDF to your secure inbox, or a paper copy sent by post).

7. If you then decide to pay off your loan, follow on-screen instructions to repay by using an internal account, an external account, or how to contact us for other ways to pay.

 

Here are the steps to follow for Anytime Internet Banking:

1. Log into Anytime Internet Banking and you will see your Account Summary page and your loan account

2. Next to your loan account, click “Manage my loan”

3. On “My loan” screen, click “Repay in full”

3. On “Review Quote” screen:

4. Select “Continue with payment”

5. If you then decide to pay off your loan, follow on-screen instructions to repay by using an internal account, an external account, or how to contact us for other ways to pay.

 

It’s important to remember that if you repay your loan early, you will be charged an Early Repayment Fee. The amount you will be charged will be equal to 58 days’ interest on the amount you repay early (28 days’ interest if the period of the Loan is one year or less).
If there is less than 58 days (or 28 days if applicable) remaining on the loan, the calculation will be based on the actual number of days remaining. This is in addition to your outstanding loan amount and any outstanding interest.