Keep 13k or pay off loan

FIRSTTIMER

Agreed! I think for peace of mind I have now decided to be totally debt free. If I need money, I can take out a loan, 0% card, extend mortgage etc.

ethranes

Get that loan payed off

ReadingTim

Seriously, what sort of emergency are you realistically going to face which requires you to find more than £5k within a day or two? Short of share dealing or other forms of gambling, I'm struggling to think of anything legal which needs cash that quick. Pricey things like cars and houses are covered by insurance, so make sure that cover is good and up to date.

Other than that, pay off the loan: you'll save more in interest doing that than you'll ever earn with it in the bank. And get (but don't use) a credit card for the unexpected emergencies if you're worried about them. And whilst they say the past is no guide to the future, if you haven't faced any £5k+ emergencies thus far, you're unlikely to face them in the near future!

Lumanous

Good choice. You've immediately got that 140 per month which you can put into savings straight away instead of paying towards the loan. Plus the figures you're looking at are now actual £ which I think is so much better for the mind. You don't need to constantly be thinking about what you actually have offsetting what you owe.

Just think how good you'll feel down the line when you buy something outright from your savings, don't get/have a loan and then both own something and have/keep on saving

Supersaver88

Why is this even a question
Pay it off NOW and you still have a sizable emergency fund!
Good luck.
SS88!