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?Pay off loan v's keep in savings

Aanon · 2020-03-10 12:08:37

Hi I would love some advice please - I have an outstanding loan with Lloyds (originally £5000) there is still 18 months outstanding on the loan with £177.18 repayments monthly. Lloyds have advised the settlement amount is £3980.87. I currently have £6700 saved (in a normal non savings account). Should I pay off my loan…

Comments

enthusiasticsaver Posts: 16,139 Ambassador

15 March 2020 at 7:36PM edited 15 March 2020 at 7:38PM

Check if there is an early settlement fee as that looks high for only 18 months remaining at your current repayment level.

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