rebates

dave1664

can any body give some advise about loan rebates,have a doorstep loan would like to know if by law i am entitled to a rebate if i clear the loan early

Tixy

A rebate - no.

You would usually pay less interest overall if you pay off the loan early than if you let it run for the full term. Certainly you would with a long term loan from a mainstream bank. Though you wouldn't for something like a payday loan which is for a short fixed period of time.

So you'd need to check your original loan agreement for early repayment terms.