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HSBC Personal Loan - Early repayment
Just took out a HSBC personal loan for 12 months as a means of consolidating other loans (In particular a nasty payday loan!), which has worked out great.
Anyway I have a fairly good income which means I should in theory be able to pay this loan off a lot earlier than the 12 months, would this save me money? I did try and read some of the HSBC documentation but it went straight over my head!
(I think the 'interest' over the 12 months works out around £277, the loan is £2500)
Anyway I have a fairly good income which means I should in theory be able to pay this loan off a lot earlier than the 12 months, would this save me money? I did try and read some of the HSBC documentation but it went straight over my head!
(I think the 'interest' over the 12 months works out around £277, the loan is £2500)
0
Comments
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ask them for a settlement figure and compare it with the outstanding payments
there should be a small benefit is repaying early0
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