We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Early settlement rebate
Options
I took out a loan with my bank just over 4 months ago and made payments on time every month etc.
I got an early settlement figure from my bank stating that if I repaid the £2794.58 owing I would get a loan rebate of just over £1000 does this in term mean I would get that money back.?
Regardless I have paid off the final figure it would just be nice to know what the rebate is and if I get that money back for making early repayment in full.
I got an early settlement figure from my bank stating that if I repaid the £2794.58 owing I would get a loan rebate of just over £1000 does this in term mean I would get that money back.?
Regardless I have paid off the final figure it would just be nice to know what the rebate is and if I get that money back for making early repayment in full.
0
Comments
-
The settlement figure would already reflect any saving in interest.0
-
the £1,000 is the saving you make by paying it off now v's continuing to make payments until the end of the loan term0
-
The rebate is what you would have paid in interest had the loan run to its full length.
You won't get a £1k cheque in your hot little hands."There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.9K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards