Career Development Loan early payment

jackthela

Hey there guys, I wanted to ask can I pay off my Barclays CDL before my repayment start in January, i took out £7,602.50 and from 18th january i have to start paying £160.91 per month (69 months) which would make me pay back £9,654 all together.

So would I have to pay back the loan i took out only which is £7,602.50 (which i have the funds to pay thankfully) or the £9,654 im looking to pay it off by this week, do you think if i ring barclays and say to them take it out off my account they can do it? Or would it be cheque only?

Hope somebody can reply, would mean alot :j

atypical

jackthela wrote: »

So would I have to pay back the loan i took out only which is £7,602.50 (which i have the funds to pay thankfully) or the £9,654 im looking to pay it off by this week, do you think if i ring barclays and say to them take it out off my account they can do it? Or would it be cheque only?

Check the terms of your loan. There may be an early settlement fee, but according to Barclays website there isn't one currently:
http://www.barclays.co.uk/Loans/Graduateandprofessional/ProfessionalandCareerLoan/P1242557963934

I don't think Barclays will be particularly fussed how you pay the money back.