{"id":110012,"date":"2018-05-25T10:01:10","date_gmt":"2018-05-25T09:01:10","guid":{"rendered":"https:\/\/www.finder.com\/uk\/?p=110012"},"modified":"2025-04-15T09:56:29","modified_gmt":"2025-04-15T08:56:29","slug":"personal-loan-early-payoff","status":"publish","type":"post","link":"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff","title":{"rendered":"Repaying a personal loan early"},"content":{"rendered":"<p>Whether you\u2019ve currently got a personal loan or are looking to take one out, it\u2019s important to understand how easy it is to overpay and what doing so will save you on repayments. But frustratingly, UK lenders are not always as upfront about the costs and savings as they could be. The good news is that they\u2019re all bound by the same rules.<\/p><h3 id=\"learn\">Can I pay off my personal loan early?<\/h3><p>Yes. Under the Consumer Credit Regulations 2004, you\u2019re entitled to fully or partially repay your personal loan early in the UK, but lenders can still charge you up to an additional two months interest on any sums paid ahead of time.<\/p><p>So while many lenders advertise that you won\u2019t pay an early repayment charge (ERC) or fee if you pay off your loan sooner than agreed, chances are you\u2019ll still be charged up to two months interest on whatever sums you repaid early. Some lenders will classify this additional interest as an ERC, others won\u2019t. It means you may be in for a surprise when you request a final settlement figure and find you haven\u2019t saved quite as much as you might have imagined.<\/p><p>Whether it\u2019s because you\u2019ve been responsible with your spending and saving, have come into an unexpected inheritance or have even won the lottery, it generally still makes financial sense to try and pay off your loan as soon as possible. After all, nobody knows what\u2019s around the corner, so it\u2019s smart to get yourself in a strong financial position while the going\u2019s good!<\/p><h3>How much does it cost to repay my loan early?<\/h3><p>This can vary from lender to lender and can also depend on the length of time remaining on your loan:<\/p><ul class=\"has-margin-bottom\"><li><strong>If you have up to 12 months left on your loan<\/strong>, you can be charged up to 28 days interest from the date you inform your lender you want to repay your loan early. This would be in addition to any interest that had been accrued since your last repayment.<\/li><li><strong>If you have more than 12 months left on your loan<\/strong>, you can be charged up to 58 days interest from the date you let them know you want to pay off your loan early. Again, you would also need to pay any interest that has accrued since you last made a payment.<\/li><\/ul><p>Additionally, if part of your monthly repayments goes towards the product fee (this is normally the case with peer-to-peer loans), then you\u2019ll need to clear the fee in full when you settle the loan.<\/p><p>If you\u2019re part-way through a loan and want to find out the exact amount, contact your lender and request a \u201cfinal settlement figure\u201d.<\/p><h3>How much will I save by repaying early?<\/h3><p>Thanks to the <a href=\"http:\/\/www.legislation.gov.uk\/uksi\/2004\/1483\/regulation\/4\/made\" rel=\"follow noopener noreferrer\" target=\"new\">Consumer Credit Act<\/a>, borrowers who repay early are entitled to a rebate equivalent to the difference between the total remaining projected cost of the loan and the amount given by the following formula (explanations of the various elements of this formula can be found at the link above):<\/p><p><img decoding=\"async\" src=\"https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/3\/2018\/05\/loan_rebate.png\" alt=\"Excerpt from the formula for a personal loan rebate figure.\" width=\"357\" height=\"66\" class=\"alignnone size-full wp-image-110019\" srcset=\"https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/3\/2018\/05\/loan_rebate.png?fit=180 180w, https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/3\/2018\/05\/loan_rebate.png?fit=360 360w, https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/3\/2018\/05\/loan_rebate.png?fit=600 600w, https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/3\/2018\/05\/loan_rebate.png?fit=900 900w, https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/3\/2018\/05\/loan_rebate.png?fit=1071 1071w\" sizes=\"(max-width: 1071px) 100vw, 1071px\" loading=\"lazy\"><\/p><p>Got that? Glad that\u2019s sorted then. Don\u2019t worry if that looks a bit complicated. The long and short of it is that the amount you\u2019ll save by repaying early is likely to vary from lender to lender, but they\u2019re all subject to the restrictions of the above formula. You can use our calculator to get a rough idea.<\/p><article class=\"luna-card luna-card--border\" id=\"early-repayment-calculator\">\n<div class=\"luna-card__block\">\n<h3>Personal loan early repayment calculator<\/h3>\n<form class=\"luna-form\" onsubmit=\"return false\">\n<fieldset class=\"luna-form__fieldset\">\n\n<div class=\"luna-form__group\">\n<div class=\"luna-form__field\" id=\"ercinput1fld\">\n<label class=\"luna-label luna-label--fluid\" for=\"ercinput1\">How much is outstanding on your loan?<\/label>\n<div class=\"luna-affix\">\n<span class=\"luna-affix__label\">\u00a3<\/span>\n<input class=\"luna-input\" type=\"number\" step=\"any\" placeholder=\"0\" id=\"ercinput1\">\n<\/div>\n<\/div>\n<\/div>\n\n<div class=\"luna-form__group\">\n<div class=\"luna-form__field\" id=\"ercinput2fld\">\n<label class=\"luna-label luna-label--fluid\" for=\"ercinput2\">How many months are remaining on your loan term?<\/label>\n<div class=\"luna-affix\">\n<input class=\"luna-input\" type=\"number\" placeholder=\"0\" id=\"ercinput2\">\n<span class=\"luna-affix__label\">months<\/span>\n<\/div>\n<\/div>\n<\/div>\n\n<div class=\"luna-form__group\">\n<div class=\"luna-form__field\" id=\"ercinput3fld\">\n<label class=\"luna-label luna-label--fluid\" for=\"ercinput3\">What interest rate are you paying?<\/label>\n<div class=\"luna-affix\">\n<input class=\"luna-input\" type=\"number\" step=\"any\" placeholder=\"0\" id=\"ercinput3\">\n<span class=\"luna-affix__label\">%<\/span>\n<\/div>\n<\/div>\n<\/div>\n\n<div class=\"luna-form__group\">\n<div class=\"luna-form__actions\">\n<button class=\"luna-button luna-button--primary\" onclick=\"ukfplErcShowResults();\">Calculate<\/button>\n<\/div>\n<\/div>\n\n<\/fieldset>\n<\/form>\n\n\n\n\n\n\n\n\n\n\n<article class=\"luna-card luna-card--alt has-margin-top-small\">\n<div class=\"luna-card__block text-x-large\"><p id=\"resultmessage\" class=\"no-margin-bottom\">Enter the details of your outstanding loan to estimate how much you could save by repaying early.<\/p><p id=\"caveats\" class=\"no-margin-bottom fin-text-grey text-x-small\"><\/p>\n\n<\/div>\n<\/article>\n\n<\/div>\n<\/article>\n\n\n\n\n\n\n\n\n\n<script>\nfunction ukfplErcShowResults() {\n\nvar ercinput1fld = document.getElementById(\"ercinput1fld\");\nvar ercinput2fld = document.getElementById(\"ercinput2fld\");\nvar ercinput3fld = document.getElementById(\"ercinput3fld\");\n\ntry { ercinput1fld.classList.remove('is-invalid'); ercinput2fld.classList.remove('is-invalid'); ercinput3fld.classList.remove('is-invalid'); } catch { }\n\nvar useramt = Number(document.getElementById(\"ercinput1\").value);\nvar userterm = Number(document.getElementById(\"ercinput2\").value);\nvar userrate = Number(document.getElementById(\"ercinput3\").value);\n\nif (userterm > 0 && userrate > 0 && useramt > 0) {\nvar nosaving = 0;\nvar monthlyrate = (((userrate\/100) + 1) ** (1 \/ 12)) - 1;\nif (userterm > 12) {\nvar calculatedresult = (useramt * Math.pow(1 + (userrate \/ 365 \/ 100), 58));\n} else {\nvar calculatedresult = (useramt * Math.pow(1 + (userrate \/ 365 \/ 100), 28));\n}\nvar naturalpayment = useramt * (monthlyrate + (monthlyrate \/ (((1 + monthlyrate) ** userterm) - 1)));\nvar naturalresult = naturalpayment * userterm;\nvar difference = (Math.round((naturalresult - calculatedresult) * 100)) \/ 100;\nnaturalresult = (Math.round(naturalresult * 100)) \/ 100;\ncalculatedresult = (Math.round(calculatedresult * 100)) \/ 100;\nif (calculatedresult > naturalresult) {\ncalculatedresult = naturalresult;\nnosaving = 1;\n}\n\nvar resultmessage = document.getElementById(\"resultmessage\");\nvar caveats = document.getElementById(\"caveats\");\nif (nosaving == 1) {\nresultmessage.innerHTML = \"Your settlement figure today could be around \" + calculatedresult.toLocaleString(\"en-GB\", {style:\"currency\", currency:\"GBP\",minimumFractionDigits: 2}) + \". Unfortunately, repaying early at this stage may not save you money in interest.\";\n} else {\nresultmessage.innerHTML = \"Your settlement figure today could be around \" + calculatedresult.toLocaleString(\"en-GB\", {style:\"currency\", currency:\"GBP\",minimumFractionDigits: 2}) + \", compared to a total payable of around \" + naturalresult.toLocaleString(\"en-GB\", {style:\"currency\", currency:\"GBP\",minimumFractionDigits: 2}) + \" if you don't repay early. That's a saving of around \" + difference.toLocaleString(\"en-GB\", {style:\"currency\", currency:\"GBP\",minimumFractionDigits: 2}) + \".\";\ncaveats.classList.add(\"has-margin-top-xsmall\");\ncaveats.innerHTML = \"These figures are approximate estimates and you should contact your lender to request an exact figure. Our calculations assume that you have just made a repayment (if it has been some time since your last repayment, the figure will be higher), that your loan did not involve a fee which now forms part of your monthly repayments, that there is not an early repayment charge (ERC) other than additional interest on sums repaid early and that prior to this point your repayments were in line with the agreed repayment schedule.\";\n}\n} else {\n\nif (useramt == 0) { ercinput1fld.classList.add('is-invalid'); }\nif (userterm == 0) { ercinput2fld.classList.add('is-invalid'); }\nif (userrate == 0) { ercinput3fld.classList.add('is-invalid'); }\n\n}\n}\n\n<\/script><article class=\"luna-card luna-card--border\" id=\"early-repayment-calculator\">\n<div class=\"luna-card__block\">\n<h3>58 days' interest calculator<\/h3>\n<form class=\"luna-form\" onsubmit=\"return false\">\n<fieldset class=\"luna-form__fieldset\">\n\n<div class=\"luna-form__group\">\n<div class=\"luna-form__field\" id=\"ukfpl58input1fld\">\n<label class=\"luna-label luna-label--fluid\" for=\"ukfpl58input1\">Amount<\/label>\n<div class=\"luna-affix\">\n<span class=\"luna-affix__label\">\u00a3<\/span>\n<input class=\"luna-input\" type=\"number\" step=\"any\" placeholder=\"0\" id=\"ukfpl58input1\">\n<\/div>\n<\/div>\n\n<div class=\"luna-form__field\" id=\"ukfpl58input2fld\">\n<label class=\"luna-label luna-label--fluid\" for=\"ukfpl58input2\">Rate<\/label>\n<div class=\"luna-affix\">\n<input class=\"luna-input\" type=\"number\" step=\"any\" placeholder=\"0\" id=\"ukfpl58input2\">\n<span class=\"luna-affix__label\">%<\/span>\n<\/div>\n<\/div>\n<\/div>\n\n<div class=\"luna-form__group\">\n<div class=\"luna-form__actions\">\n<button class=\"luna-button luna-button--primary\" onclick=\"ukfpl58ShowResults();\">Calculate<\/button>\n<\/div>\n<\/div>\n\n<\/fieldset>\n<\/form>\n\n<article class=\"luna-card luna-card--alt has-margin-top-small\">\n<div class=\"luna-card__block text-x-large\" id=\"ukfpl58resultmessage\">Enter an amount and an annual interest rate to estimate 58 days' interest.<\/div>\n<\/article>\n\n<\/div>\n<\/article>\n\n\n\n\n\n\n\n<script>\nfunction ukfpl58ShowResults() {\n\nvar ukfpl58amt = Number(document.getElementById(\"ukfpl58input1\").value);\nvar ukfpl58rt = Number(document.getElementById(\"ukfpl58input2\").value);\n\nvar ukfpl58amtfld = document.getElementById(\"ukfpl58input1fld\");\nvar ukfpl58rtfld = document.getElementById(\"ukfpl58input2fld\");\n\ntry { ukfpl58amtfld.classList.remove('is-invalid'); ukfpl58rtfld.classList.remove('is-invalid'); } catch { }\n\nif (ukfpl58amt > 0 && ukfpl58rt > 0) {\n\nvar calculatedresult = (ukfpl58amt * Math.pow(1 + (ukfpl58rt \/ 365 \/ 100), 58)) - ukfpl58amt;\nvar resultmessage = document.getElementById(\"ukfpl58resultmessage\");\n\nresultmessage.innerHTML = calculatedresult.toLocaleString(\"en-GB\", {style:\"currency\", currency:\"GBP\",minimumFractionDigits: 2});\n\n} else {\nif (ukfpl58amt == 0) { ukfpl58amtfld.classList.add('is-invalid'); }\nif (ukfpl58rt == 0) { ukfpl58rtfld.classList.add('is-invalid'); }\n}\n\n}\n<\/script><h3 class=\"has-margin-bottom\">Early pay-off examples<\/h3><h4>Example #1<\/h4><ul class=\"has-margin-bottom\"><li>Amount borrowed: <strong>\u00a310,000<\/strong><\/li><li>Loan term: <strong>5 years<\/strong><\/li><li>Interest rate (APR): <strong>5.9%<\/strong><\/li><\/ul><p>After 6 months, you decide you want to repay the loan in full. Up to this point, you\u2019ve actually repaid around \u00a3876 of the original \u00a310,000 (as well as around \u00a3277 in interest).<\/p><p>This means you still owe around \u00a39,124 on your original loan amount. As you\u2019ve still got more than 12 months left on your loan, your lender charges you an additional 58 days interest. So as well as that outstanding \u00a39,124 you\u2019ll pay around a further \u00a386 in interest.<\/p><p>If you repay now, then the overall cost of the loan will have been approximately <strong>\u00a310,363<\/strong>.<\/p><p>If you leave the loan to run its natural course, then the overall cost of the loan will be approximately <strong>\u00a311,529<\/strong>.<\/p><h4>Example #2<\/h4><ul class=\"has-margin-bottom\"><li>Amount borrowed: <strong>\u00a310,000<\/strong><\/li><li>Loan term: <strong>5 years<\/strong><\/li><li>Interest rate (APR): <strong>12.5%<\/strong><\/li><\/ul><p>As with the first example above, you decide you want to repay your loan after 6 months. So far, you\u2019ve repaid around \u00a3756 off your initial loan amount (as well as \u00a3573 in interest). You still have more than 12 months remaining on your loan term, so the lender charges you an additional 58 days of interest.<\/p><p>You still owe \u00a39,244 on your original loan amount, and the 58 days interest on this equates to around \u00a3185 in interest.<\/p><p>If you repay now, then the overall cost of the loan will have been approximately <strong>\u00a310,758<\/strong>.<\/p><p>If you leave the loan to run its natural course, then the overall cost of the loan will be approximately <strong>\u00a313,297<\/strong>.<\/p><p>As you can see from the examples above, you may save hundreds or even thousands of pounds by repaying your loan early. However, even repaying a 5-year loan after 6 months can still end up being quite expensive.<\/p><p>Because of the way interest repayments work, the amount of interest you pay each month decreases over the course of the loan. This means you\u2019re paying off less of your principal in the early months of the loan, but this amount will still need to be repaid when you decide to pay off your loan early.<\/p><p>As a general rule of thumb, you\u2019ll likely save money in interest by repaying your loan early if you have at least 2 months left on your loan term, but the amount you save overall may be less than you expected.<\/p><p>It\u2019s worth contacting your lender directly and ask for a calculation of how much you\u2019d owe in fees and interests if you were to repay your loan early.<\/p><h3>What if it\u2019s a peer-to-peer loan?<\/h3><p>Most peer-to-peer platforms (these are online marketplaces where investors lend money to borrowers) \u2013 like Zopa or RateSetter \u2013 charge a \u201cloan fee\u201d or \u201clender fee\u201d as well as interest. Normally a small part of each monthly repayment will go towards this fee, and if you want to pay off your loan early, you\u2019ll need to clear this fee in full.<\/p><h3>Check your credit agreement<\/h3><p>Your credit agreement sets out the terms which both the lender and the borrower must stick to. It\u2019s this document that\u2019s covered by the Consumer Credit Act (bear in mind that certain types of loan are exempt from this, such as loans from an employer, mortgages and credit union loans). This should detail how you can repay your loan early, as well as any interest charges or ERCs you may need to pay.<\/p><p>Below is an excerpt from one popular lender\u2019s agreement document:<\/p><article class=\"luna-card luna-card--shadow\"><div class=\"luna-card__block text-center\"><img decoding=\"async\" src=\"https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/3\/2018\/05\/Screen-Shot-2018-05-25-at-08.14.32.png\" alt=\"Section of a loan agreement document\" width=\"714\" height=\"354\" class=\"alignnone size-full wp-image-110022\" srcset=\"https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/3\/2018\/05\/Screen-Shot-2018-05-25-at-08.14.32.png?fit=180 180w, https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/3\/2018\/05\/Screen-Shot-2018-05-25-at-08.14.32.png?fit=360 360w, https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/3\/2018\/05\/Screen-Shot-2018-05-25-at-08.14.32.png?fit=600 600w, https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/3\/2018\/05\/Screen-Shot-2018-05-25-at-08.14.32.png?fit=900 900w, https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/3\/2018\/05\/Screen-Shot-2018-05-25-at-08.14.32.png?fit=1200 1200w, https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/3\/2018\/05\/Screen-Shot-2018-05-25-at-08.14.32.png?fit=2142 2142w\" sizes=\"(max-width: 2142px) 100vw, 2142px\" loading=\"lazy\"><\/div><\/article><p>The early repayment policy above is quite typical \u2013 any sums paid early may incur up to about 2 month\u2019s interest beyond the date on which the lender received notice from you. Some lenders, especially many of the \u201cpayday\u201d lenders, will only charge you for the days on which you borrowed the money.<\/p><h3>How do I pay off my loan early?<\/h3><p>Here are the steps you\u2019ll need to follow if you want to settle your loan ahead of time.<\/p><ol><li><strong>Contact your lender.<\/strong> Request an \u201cearly settlement amount\u201d for the loan. If your lender is especially awkward, they could make you do this in writing, but more often than not you can set the wheels in motion through your internet banking (as per the example above) or over the phone.<\/li><li><strong>Your lender must give you a figure and 28 days to pay it.<\/strong> You are under no obligations at this point, and can simply continue with the loan as previously agreed should you wish.<\/li><li><strong>Make the payment.<\/strong> Congratulations \u2013 you\u2019ve cleared your loan!<\/li><\/ol><h3>How do I make an overpayment on my loan?<\/h3><p>If you\u2019re aiming to make overpayments here and there when you\u2019ve managed to save a little extra or spend a little less that month, or if you\u2019ve come into some money and want to pay a chunk off your debt, here\u2019s what you should do.<\/p><p>It many cases, it should be possible to simply transfer funds to your loan account. In a few, more old-school cases, you may need to let your lender know verbally or in writing of your intention, and then make your overpayment within 28 days (you are under no obligations at this point, and can simply continue with the loan as previously agreed should you wish).<\/p><p>Either way, your payment schedule for the rest of the loan will be adjusted accordingly. Lenders can either keep your remaining instalment amounts the same, and your loan will simply end earlier; or reduce your instalment amounts so that the loan still ends at the same point. Your lender should clarify in the loan agreement which of these they will do by default, and you may allowed to specify which of the two you\u2019d rather.<\/p><h3>Can I just cancel my loan?<\/h3><p>Potentially, yes. After signing the loan agreement you\u2019ll have 14 days in which to cancel \u2013 this is your \u201ccooling off\u201d period. What\u2019s more, you don\u2019t even have to give a reason. Naturally, the lender will want you to return the all money straightaway \u2013 legally you have 30 days in which to do so. Just remember that even if you cancel the loan, the lender is allowed to charge you interest until it receives the funds back from you.<\/p><p><a class=\"more-link-arrow\" href=\"https:\/\/www.finder.com\/uk\/credit-cards\/balance-transfer-credit-cards\/balance-transfer-a-personal-loan-to-a-credit-card\">Moving a balance from a personal loan to a credit card.<\/a><\/p><p>Perhaps you haven\u2019t yet taken out a personal loan, and you\u2019re simply at the stage of shopping around. If you\u2019re hoping to be able to make overpayments on the loan here and there, or if you have a lump sum of cash coming your way sometime soon, you should factor early repayment terms into your comparison.<\/p><p>Favourable early settlement terms could well be more useful to you than a slightly lower rate. Remember, if a lenders states \u201cthere are no charges for repaying your loan early\u201d that\u2019s not the same as saying that repaying your loan early will save you money. As well as looking for favourable terms, look at how easy it actually is to overpay.<\/p><p>Simply put, lenders usually prefer it if you don\u2019t pay off your loan too soon. Sure, they get their money back safely ahead of time, but they\u2019ve made less money than they expected to. That\u2019s why they don\u2019t always make it as easy as they should to overpay\/repay early, and that\u2019s why they may want to charge interest beyond the date of repayment.<\/p><h3>Bottom line<\/h3><p>Wondering which lenders charge an early repayment fee? The vast majority of banks and personal loan companies in the UK (including HSBC, Santander, Tesco Bank, Halifax and Nationwide) offer unsecured loans with no early repayment fees. However this can seem misleading, in that they are likely to charge up to two months additional interest on sums repaid early.<\/p><p>Loans that are secured against property are much more likely to involve early repayment charges.<\/p><article class=\"luna-card luna-card--alt\"><div class=\"luna-card__block has-padding-small\">We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms \"best\", \"top\", \"cheap\" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our <a href=\"https:\/\/www.finder.com\/uk\/terms-of-use\" class=\"fin-text-navy\">terms of use<\/a>. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables is provided by Defaqto. In other cases, Finder has sourced data directly from providers.<\/div><\/article>","protected":false},"excerpt":{"rendered":"<p>If you have a personal loan and you want to make overpayments or simply pay it off in full ahead of time, you&#8217;re protected by the Consumer Credit Act. Here&#8217;s what you need to know.<\/p>\n","protected":false},"author":195,"featured_media":110020,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[2603],"tags":[],"asset_tag":[],"class_list":["post-110012","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-personal-loans"],"apple_news_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.9 (Yoast SEO v24.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to repay your personal loan early: Interest costs and savings calculator<\/title>\n<meta name=\"description\" content=\"If you have a loan and want to make overpayments or pay it off in full ahead of time, you&#039;re protected by the Consumer Credit Act. Learn your rights, how to repay early plus what you could save.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Repaying a personal loan early\" \/>\n<meta property=\"og:description\" content=\"If you have a loan and want to make overpayments or pay it off in full ahead of time, you&#039;re protected by the Consumer Credit Act. Learn your rights, how to repay early plus what you could save.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff\" \/>\n<meta property=\"og:site_name\" content=\"Finder UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/findercomuk\" \/>\n<meta property=\"article:published_time\" content=\"2018-05-25T09:01:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/3\/2018\/05\/happy_debt_free_250_250.png\" \/>\n\t<meta property=\"og:image:width\" content=\"250\" \/>\n\t<meta property=\"og:image:height\" content=\"250\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Chris Lilly\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/ChrisLillyCL\" \/>\n<meta name=\"twitter:site\" content=\"@findercomUK\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Chris Lilly\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff\"},\"author\":{\"name\":\"Chris Lilly\",\"@id\":\"https:\/\/www.finder.com\/uk\/#\/schema\/person\/2bcd9231d1c1e8ed47cffe934574b9ad\"},\"headline\":\"Repaying a personal loan early\",\"datePublished\":\"2018-05-25T09:01:10+00:00\",\"dateModified\":\"2024-05-14T18:24:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff\"},\"wordCount\":1908,\"commentCount\":3,\"publisher\":{\"@id\":\"https:\/\/www.finder.com\/uk\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cdn.finder.com.au\/finder-us\/wp-uploads\/sites\/3\/2018\/05\/happy_debt_free_250_250.png\",\"articleSection\":[\"Personal Loans\"],\"inLanguage\":{\"@type\":\"Language\",\"name\":\"English\",\"alternateName\":\"en\"},\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff#respond\"]}],\"comment\":[{\"@id\":\"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff#comment-25314\"},{\"@id\":\"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff#comment-8164\"},{\"@id\":\"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff#comment-6833\"}],\"copyrightYear\":\"2018\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.finder.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff\",\"url\":\"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff\",\"name\":\"How to repay your personal loan early: Interest costs and savings calculator\",\"isPartOf\":{\"@id\":\"https:\/\/www.finder.com\/uk\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cdn.finder.com.au\/finder-us\/wp-uploads\/sites\/3\/2018\/05\/happy_debt_free_250_250.png\",\"datePublished\":\"2018-05-25T09:01:10+00:00\",\"dateModified\":\"2024-05-14T18:24:40+00:00\",\"description\":\"If you have a loan and want to make overpayments or pay it off in full ahead of time, you're protected by the Consumer Credit Act. Learn your rights, how to repay early plus what you could save.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff#primaryimage\",\"url\":\"https:\/\/cdn.finder.com.au\/finder-us\/wp-uploads\/sites\/3\/2018\/05\/happy_debt_free_250_250.png\",\"contentUrl\":\"https:\/\/cdn.finder.com.au\/finder-us\/wp-uploads\/sites\/3\/2018\/05\/happy_debt_free_250_250.png\",\"width\":250,\"height\":250,\"caption\":\"Carefree, young man giving his partner a piggyback and laughing\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"UK\",\"item\":\"https:\/\/www.finder.com\/uk\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Personal Loans\",\"item\":\"https:\/\/www.finder.com\/uk\/personal-loans\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Repaying a personal loan early\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.finder.com\/uk\/#website\",\"url\":\"https:\/\/www.finder.com\/uk\/\",\"name\":\"Finder UK\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.finder.com\/uk\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.finder.com\/uk\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.finder.com\/uk\/#organization\",\"name\":\"Finder\",\"url\":\"https:\/\/www.finder.com\/uk\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.finder.com\/uk\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/3\/2025\/05\/Finder-Logo-696x696-1.png\",\"contentUrl\":\"https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/3\/2025\/05\/Finder-Logo-696x696-1.png\",\"width\":1392,\"height\":1392,\"caption\":\"Finder\"},\"image\":{\"@id\":\"https:\/\/www.finder.com\/uk\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/findercomuk\",\"https:\/\/x.com\/findercomUK\",\"https:\/\/www.linkedin.com\/company\/finder\/\",\"https:\/\/en.wikipedia.org\/wiki\/Finder_(website)\"],\"description\":\"Every month more than 2 million unique visitors turn to Finder to save money and time, and to make important life choices. We compare everything from bank accounts, personal loans, investing platforms and much more.\",\"email\":\"heythere@finder.com\",\"legalName\":\"Finder\",\"foundingDate\":\"2006-01-01\",\"numberOfEmployees\":{\"@type\":\"QuantitativeValue\",\"minValue\":\"51\",\"maxValue\":\"200\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.finder.com\/uk\/#\/schema\/person\/2bcd9231d1c1e8ed47cffe934574b9ad\",\"name\":\"Chris Lilly\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.finder.com\/uk\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/cdn.finder.com.au\/finder-us\/wp-uploads\/2025\/11\/ChrisLillyF1_Finder_600x600.png\",\"contentUrl\":\"https:\/\/cdn.finder.com.au\/finder-us\/wp-uploads\/2025\/11\/ChrisLillyF1_Finder_600x600.png\",\"caption\":\"Chris Lilly\"},\"description\":\"Chris Lilly is Head of publishing at finder.com. He's a specialist in personal finance, from day-to-day banking to investing to borrowing, and is passionate about helping UK consumers make informed decisions about their money. In his spare time Chris likes forcing his kids to exercise more.\",\"sameAs\":[\"https:\/\/twitter.com\/ChrisLillyCL\",\"https:\/\/www.linkedin.com\/in\/chris-lilly-46a15627\/\"],\"url\":\"https:\/\/www.finder.com\/uk\/author\/chrislilly\",\"jobTitle\":\"Head of publishing\",\"knowsAbout\":[{\"@type\":\"Thing\",\"name\":\"Loans & credit cards\"},{\"@type\":\"Thing\",\"name\":\"Building credit\"},{\"@type\":\"Thing\",\"name\":\"Financial health\"},{\"@type\":\"Thing\",\"name\":\"Share trading\"}],\"worksFor\":{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.finder.com\/uk\/#organization\",\"name\":\"Finder\"}},{\"@type\":\"Comment\",\"@id\":\"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff#comment-25314\",\"author\":{\"@type\":\"Person\",\"name\":\"Tom Stelzer\"},\"text\":\"Hi Ian,\\n\\nThanks for your question. Unfortunately, without knowing the full terms, conditions and type of your loan, it's hard to know exactly how your lender arrived at that figure. As discussed in this guide, lenders are free to charge up to 58 days in additional interest if you decide to repay your loan early, and may also charge an early settlement fee. \\n\\nAs you mentioned, you're unlikely to have made much of a dent in your principal loan amount (\u00a32,000), due to how interest repayments work. As you continue to make repayments over the course of your loan term, the amount of interest you pay should go down, and instead you should be paying off more of your principal. \\n\\nIt would definitely be worth contacting your lender and asking for a breakdown of how they arrived at the \u00a32,130 figure, including any fees or interest they may have charged. \\n\\nPlease let me know if you have any other questions. \\n\\nRegards,\\n\\nTom\",\"datePublished\":\"2020-01-09 09:20:06\"},{\"@type\":\"Comment\",\"@id\":\"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff#comment-8164\",\"author\":{\"@type\":\"Person\",\"name\":\"Pearlsandbows\"},\"text\":\"Is it better to repay nearly all of a loan and leave a small amount to be paid by next direct debit or all together as final settlement?\",\"datePublished\":\"2018-11-19 15:58:19\"},{\"@type\":\"Comment\",\"@id\":\"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff#comment-6833\",\"author\":{\"@type\":\"Person\",\"name\":\"Alex\"},\"text\":\"How much roughly would you save by repaying a \u00a34500 loan off? I have 19 months left at \u00a3190.\",\"datePublished\":\"2018-09-29 09:49:36\"}]}<\/script>\n<meta property=\"article:modified_time\" content=\"2024-05-14T18:24:40+00:00\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"How to repay your personal loan early: Interest costs and savings calculator","description":"If you have a loan and want to make overpayments or pay it off in full ahead of time, you're protected by the Consumer Credit Act. Learn your rights, how to repay early plus what you could save.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff","og_locale":"en_GB","og_type":"article","og_title":"Repaying a personal loan early","og_description":"If you have a loan and want to make overpayments or pay it off in full ahead of time, you're protected by the Consumer Credit Act. Learn your rights, how to repay early plus what you could save.","og_url":"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff","og_site_name":"Finder UK","article_publisher":"https:\/\/www.facebook.com\/findercomuk","article_published_time":"2018-05-25T09:01:10+00:00","og_image":[{"width":250,"height":250,"url":"https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/3\/2018\/05\/happy_debt_free_250_250.png","type":"image\/png"}],"author":"Chris Lilly","twitter_card":"summary_large_image","twitter_creator":"@https:\/\/twitter.com\/ChrisLillyCL","twitter_site":"@findercomUK","twitter_misc":{"Written by":"Chris Lilly","Est. reading time":"9 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff#article","isPartOf":{"@id":"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff"},"author":{"name":"Chris Lilly","@id":"https:\/\/www.finder.com\/uk\/#\/schema\/person\/2bcd9231d1c1e8ed47cffe934574b9ad"},"headline":"Repaying a personal loan early","datePublished":"2018-05-25T09:01:10+00:00","dateModified":"2024-05-14T18:24:40+00:00","mainEntityOfPage":{"@id":"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff"},"wordCount":1908,"commentCount":3,"publisher":{"@id":"https:\/\/www.finder.com\/uk\/#organization"},"image":{"@id":"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff#primaryimage"},"thumbnailUrl":"https:\/\/cdn.finder.com.au\/finder-us\/wp-uploads\/sites\/3\/2018\/05\/happy_debt_free_250_250.png","articleSection":["Personal Loans"],"inLanguage":{"@type":"Language","name":"English","alternateName":"en"},"potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff#respond"]}],"comment":[{"@id":"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff#comment-25314"},{"@id":"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff#comment-8164"},{"@id":"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff#comment-6833"}],"copyrightYear":"2018","copyrightHolder":{"@id":"https:\/\/www.finder.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff","url":"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff","name":"How to repay your personal loan early: Interest costs and savings calculator","isPartOf":{"@id":"https:\/\/www.finder.com\/uk\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff#primaryimage"},"image":{"@id":"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff#primaryimage"},"thumbnailUrl":"https:\/\/cdn.finder.com.au\/finder-us\/wp-uploads\/sites\/3\/2018\/05\/happy_debt_free_250_250.png","datePublished":"2018-05-25T09:01:10+00:00","dateModified":"2024-05-14T18:24:40+00:00","description":"If you have a loan and want to make overpayments or pay it off in full ahead of time, you're protected by the Consumer Credit Act. Learn your rights, how to repay early plus what you could save.","breadcrumb":{"@id":"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff#primaryimage","url":"https:\/\/cdn.finder.com.au\/finder-us\/wp-uploads\/sites\/3\/2018\/05\/happy_debt_free_250_250.png","contentUrl":"https:\/\/cdn.finder.com.au\/finder-us\/wp-uploads\/sites\/3\/2018\/05\/happy_debt_free_250_250.png","width":250,"height":250,"caption":"Carefree, young man giving his partner a piggyback and laughing"},{"@type":"BreadcrumbList","@id":"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"UK","item":"https:\/\/www.finder.com\/uk\/"},{"@type":"ListItem","position":2,"name":"Personal Loans","item":"https:\/\/www.finder.com\/uk\/personal-loans"},{"@type":"ListItem","position":3,"name":"Repaying a personal loan early"}]},{"@type":"WebSite","@id":"https:\/\/www.finder.com\/uk\/#website","url":"https:\/\/www.finder.com\/uk\/","name":"Finder UK","description":"","publisher":{"@id":"https:\/\/www.finder.com\/uk\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.finder.com\/uk\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/www.finder.com\/uk\/#organization","name":"Finder","url":"https:\/\/www.finder.com\/uk\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.finder.com\/uk\/#\/schema\/logo\/image\/","url":"https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/3\/2025\/05\/Finder-Logo-696x696-1.png","contentUrl":"https:\/\/www.finder.com\/finder-us\/wp-uploads\/sites\/3\/2025\/05\/Finder-Logo-696x696-1.png","width":1392,"height":1392,"caption":"Finder"},"image":{"@id":"https:\/\/www.finder.com\/uk\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/findercomuk","https:\/\/x.com\/findercomUK","https:\/\/www.linkedin.com\/company\/finder\/","https:\/\/en.wikipedia.org\/wiki\/Finder_(website)"],"description":"Every month more than 2 million unique visitors turn to Finder to save money and time, and to make important life choices. We compare everything from bank accounts, personal loans, investing platforms and much more.","email":"heythere@finder.com","legalName":"Finder","foundingDate":"2006-01-01","numberOfEmployees":{"@type":"QuantitativeValue","minValue":"51","maxValue":"200"}},{"@type":"Person","@id":"https:\/\/www.finder.com\/uk\/#\/schema\/person\/2bcd9231d1c1e8ed47cffe934574b9ad","name":"Chris Lilly","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.finder.com\/uk\/#\/schema\/person\/image\/","url":"https:\/\/cdn.finder.com.au\/finder-us\/wp-uploads\/2025\/11\/ChrisLillyF1_Finder_600x600.png","contentUrl":"https:\/\/cdn.finder.com.au\/finder-us\/wp-uploads\/2025\/11\/ChrisLillyF1_Finder_600x600.png","caption":"Chris Lilly"},"description":"Chris Lilly is Head of publishing at finder.com. He's a specialist in personal finance, from day-to-day banking to investing to borrowing, and is passionate about helping UK consumers make informed decisions about their money. In his spare time Chris likes forcing his kids to exercise more.","sameAs":["https:\/\/twitter.com\/ChrisLillyCL","https:\/\/www.linkedin.com\/in\/chris-lilly-46a15627\/"],"url":"https:\/\/www.finder.com\/uk\/author\/chrislilly","jobTitle":"Head of publishing","knowsAbout":[{"@type":"Thing","name":"Loans & credit cards"},{"@type":"Thing","name":"Building credit"},{"@type":"Thing","name":"Financial health"},{"@type":"Thing","name":"Share trading"}],"worksFor":{"@type":"Organization","@id":"https:\/\/www.finder.com\/uk\/#organization","name":"Finder"}},{"@type":"Comment","@id":"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff#comment-25314","author":{"@type":"Person","name":"Tom Stelzer"},"text":"Hi Ian,\n\nThanks for your question. Unfortunately, without knowing the full terms, conditions and type of your loan, it's hard to know exactly how your lender arrived at that figure. As discussed in this guide, lenders are free to charge up to 58 days in additional interest if you decide to repay your loan early, and may also charge an early settlement fee. \n\nAs you mentioned, you're unlikely to have made much of a dent in your principal loan amount (\u00a32,000), due to how interest repayments work. As you continue to make repayments over the course of your loan term, the amount of interest you pay should go down, and instead you should be paying off more of your principal. \n\nIt would definitely be worth contacting your lender and asking for a breakdown of how they arrived at the \u00a32,130 figure, including any fees or interest they may have charged. \n\nPlease let me know if you have any other questions. \n\nRegards,\n\nTom","datePublished":"2020-01-09 09:20:06"},{"@type":"Comment","@id":"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff#comment-8164","author":{"@type":"Person","name":"Pearlsandbows"},"text":"Is it better to repay nearly all of a loan and leave a small amount to be paid by next direct debit or all together as final settlement?","datePublished":"2018-11-19 15:58:19"},{"@type":"Comment","@id":"https:\/\/www.finder.com\/uk\/personal-loans\/personal-loan-early-payoff#comment-6833","author":{"@type":"Person","name":"Alex"},"text":"How much roughly would you save by repaying a \u00a34500 loan off? I have 19 months left at \u00a3190.","datePublished":"2018-09-29 09:49:36"}]},"article_modified_time":"2024-05-14T18:24:40+00:00"},"custom_fields":{"_content_type":["niche-content\/information\/how-to"],"_masthead_variant":["{\"id\":\"standard-blue\",\"showFeaturedImage\":false,\"presetId\":\"\",\"shouldUsePrimaryCTAFieldName\":false,\"shouldUseSecondaryCTAFieldName\":false,\"primaryCTA\":null,\"secondaryCTA\":null,\"widgetShortcode\":\"\",\"widgetHeading\":\"\",\"widgetStats\":\"\",\"hasPrioritizedWidget\":false,\"hasMaximizedWidget\":false,\"shouldUseOverrideCTALabel\":false,\"overrideCTA\":null,\"cleanTopPicks\":\"\"}"],"_masthead_subheading":["{\"text\":\"It&#039;s very rare to have to pay fees when you clear an unsecured loan ahead of time, but you may not save as much as you expected to.\"}"],"custom_post_template":["single-masthead-two-column.php"]},"amp_enabled":false,"_links":{"self":[{"href":"https:\/\/www.finder.com\/uk\/wp-json\/wp\/v2\/posts\/110012"}],"collection":[{"href":"https:\/\/www.finder.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.finder.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.finder.com\/uk\/wp-json\/wp\/v2\/users\/195"}],"replies":[{"embeddable":true,"href":"https:\/\/www.finder.com\/uk\/wp-json\/wp\/v2\/comments?post=110012"}],"version-history":[{"count":7,"href":"https:\/\/www.finder.com\/uk\/wp-json\/wp\/v2\/posts\/110012\/revisions"}],"predecessor-version":[{"id":531921,"href":"https:\/\/www.finder.com\/uk\/wp-json\/wp\/v2\/posts\/110012\/revisions\/531921"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.finder.com\/uk\/wp-json\/wp\/v2\/media\/110020"}],"wp:attachment":[{"href":"https:\/\/www.finder.com\/uk\/wp-json\/wp\/v2\/media?parent=110012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.finder.com\/uk\/wp-json\/wp\/v2\/categories?post=110012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.finder.com\/uk\/wp-json\/wp\/v2\/tags?post=110012"},{"taxonomy":"asset_tag","embeddable":true,"href":"https:\/\/www.finder.com\/uk\/wp-json\/wp\/v2\/asset_tag?post=110012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}