Can you overpay a loan?

Yes, with us, you can. We give you the option to make loan overpayments to pay your loan off faster than originally agreed. You can add an extra lump sum or repay more each month – whatever works for you.

It’s all about being flexible with your finances. Taking out a personal loan is a big decision. And making sure you have enough money to pay for whatever life throws at you is important. Over time your financial situation may change. So if you want pay back a bit more, you can make personal loan overpayments.

With all of our personal loans, you can pay them off early. We call it an overpayment or partial early settlement.

Why make an overpayment?

It could save you money. Making overpayments to your personal loan will reduce the loan term, so you'll pay it back faster which will save you money overall. You’ll also be pay less interest on the outstanding balance. Before you make an overpayment, you’ll need to let us know first as otherwise your interest rate or total amount won’t change. Find out how to get touch with us here.

Paying off a loan faster is a great option if you have some extra money each month or an extra lump sum.

How is the reduction in interest calculated?

When paying back an additional amount, either by making an extra lump sum payment or more each month, you’ll only pay interest on the outstanding balance. In order to do this, you need to let us know in advance that you'd like to make an overpayment. The balance and interest due will be calculated automatically to tell you the new costs. If you haven’t told us in advance your interest rate or total amount may not change.

Loan calculator

Unsure about taking out a loan and making overpayments? Use our loans calculator and see the amount of interest you could pay on a loan and how long it will take to pay it off.

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How to make an overpayment on your loan?

Whether you want to make an extra lump sum payment, or pay more each month, give us a call on 0800 096 0543*.

Get in touch

Please note that your original direct debit will still continue, and you will need to set up a second payment method.

Want to pay your loan in full?

We also give you the option to do that. If you want advice on repaying your loan in full, we’ve got you covered.

Loan guides

Need more information? Our helpful guides break down everything you need to know about loans, lending and more.

Loan application checklist

Our checklist helps you tick off everything you need for a loan application.

Planning your financial future

We all need a little help when planning our financial future. Our guide can help.

Guide to personal loans

Questions about personal loans? Our handy guide is a good place to start.

Any questions?

We’re here to help. Please check out our most commonly asked questions about loans. If you still need to talk to us our friendly team will be happy to help.

*Lines are open 8am – 8pm Monday to Friday, 8am – 6pm Saturday and Sunday and calls are free from landlines. Telephone calls are free from landlines and mobiles and may be recorded for security purposes and monitored under our quality control procedures.

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We treat all our customers and their applications on an individual basis. The APR we offer is determined by the details you supply and the loan you are applying for, along with an independent verification of your credit and repayment history.