Early settlement discount

dpaice

Hello I would like to know whether I'm entitled to early settlement discount. My loan repayment was for a 30 month period. If I want to settle the amount 6 months early, do I get a discount?
Thanks 
Dawn

Nebulous2

Almost certainly, yes you will pay less than you would do if you let it run for the next 6 months. More detail would help, which type of loan, how much for, but if it is a regulated personal loan there is a limit of how much they can charge for early settlement. 

TadleyBaggie

You will not have to pay the interest that the next 6 months payments would have built into them, but since you are close to the end of the term this might not be very much. There might be a 2 months interest "fee" added for early payment, check the t&c's.