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Paying off RBS Loan Early
thefatcontroller
Posts: 38 Forumite
in Loans
Dear MSE's
I was recently refunded a good chunk of PPI money (thanks in no small part to this site!) - more than enough to pay off the remaining balance of my RBS Loan circa £1.3k
Payments are £334 a month. Is it worth getting a settlement figure to pay off in full or given the small number of payments remaining is it really worth the while , and indeed would it even save any interest payments?
Value any advice greatly.
With thanks
TFC
I was recently refunded a good chunk of PPI money (thanks in no small part to this site!) - more than enough to pay off the remaining balance of my RBS Loan circa £1.3k
Payments are £334 a month. Is it worth getting a settlement figure to pay off in full or given the small number of payments remaining is it really worth the while , and indeed would it even save any interest payments?
Value any advice greatly.
With thanks
TFC
0
Comments
-
You need to find out what your early settlement clauses are. Sometimes it is better to just early settle. Sometimes it is better to make a large over payment and then finish off the term paying a quid a month. Sometimes best to over pay, agree a quid a month and then clear the following month but it all depends on terms0
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