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Looking for a loan I can pay off early
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saveallmymoney wrote: »I have a Zopa loan and have been paying it off early, the interest is calculated daily.
You can pay what you like, when you like with Zopa.
Sounds like a no brainer compared to the banks and theres no catches...so it seems?
So lets say the interest is 300quid on a 5grand loan. If you pay off 2k after say one month, that 300quid interest actually comes DOWN instead of up with a bank for paying over the monthly amount? Thats great!
How do you make payments also? Can you just send them to a certain sort code via online banking as and when you please or is it a phone thing?0 -
The payments are done online - there is no early settlement charges at all.
By paying bits and pieces off i'm expecting to pay off my car in half the time.0
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