Settling a bank loan early?

[Deleted User]

I was once told (by a bank employee oddly enough), that if you want to settle a bank loan early, you should pay everything but the final payment, which you should allow to be taken at the next DD.

It was a long time ago but, IIRC, it had something to do with avoiding an Early Settlement Charge, or something on those lines.

Is there something in this, or am I remembering wrongly?

DCFC79

Surely it depends what you signed your name to ?

Yes there can be a fee involved if you settle early and i think ive read on here about paying the loan off early minus the last payment and let it be paid by DD as normal.