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RBS Loan - 58 days intrest with less then 50 days to go?
I've nearly finished paying back my stupid early twenties days
I decided that I would like to pay the last payment back early - thinking it was the right thing
However for some daft reason RBS have said if I pay the loan back early, I will be charged a additional 58 days intrest?!?!?:mad:
And it is irrespective of the time to the end date.
what they hell is going on?
It just feels daft.
Has anyone else experianced this and is there any way around it? Other then just letting it finish
I decided that I would like to pay the last payment back early - thinking it was the right thing
However for some daft reason RBS have said if I pay the loan back early, I will be charged a additional 58 days intrest?!?!?:mad:
And it is irrespective of the time to the end date.
what they hell is going on?
It just feels daft.
Has anyone else experianced this and is there any way around it? Other then just letting it finish
0
Comments
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No way round it I'm afraid, its in their terms and conditions (which you will have agreed to when getting the loan) that early repayment attracts an early settlement fee of 58 days interest.
0 -
Don't pay it earlier then just pay the last two payments as normal - the saving will be minimal as most of the interest will have already been charged to the loan.0
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I believe its 58 days interest on the amount outstanding, so you could overpay and just leave £1, then pay that and it would generate 58 days interest on £1 which would be next to nothing.
Or maybe RBS have wisened up to that one.0 -
It won't cost you more than the last two payments add up to.0
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