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Make loan overpayments

Make loan overpayments

Flexible overpayment options to help you pay off your loan sooner

Can I make an overpayment to my loan and how do I do this?

You can make overpayments when you have some extra money to pay your loan off faster and it could also save you money.

The overpayments you make to your personal loan can either reduce your loan term or monthly repayments. 

If you would like to keep your loan term the same and reduce your monthly repayments, you’ll need to call us before you make the overpayment. Please note that your original direct debit will remain the same and you’ll need to set up another payment method for the extra amount. However, if you wanted the overpayment to reduce your loan term, you can transfer the overpayment straight into your loan account.

Payments can be sent via bank transfer to your Sainsbury’s Bank loan sort code and account number, with your name as the payee’s name. Remember to send the payment as a personal payment, not business and you can choose what you’d like to put as the payee reference. We can’t accept payments from overseas accounts, but you can transfer funds to your account from any UK bank or building society.

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. 

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.


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 and mobiles and may be recorded for security purposes and monitored under our quality control procedures.

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.