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Re: Bank Loan Question
As above, but there is this info on the Lloyds Bank website.
https://www.lloydsbank.com/loans/exi...-customer.html
Quote:
Making additional payments
Making additional payments to your loan can reduce the overall interest you’ll pay and may reduce your loan term.
If you make additional payments to your loan you must continue to pay your monthly repayments. Our calculator can help by showing you how.
Please note, making an additional payment will not take the place of your monthly repayment. We will still take your Direct Debit as planned on your usual payment date.
You can make additional payments by:
logging on to Internet Banking and selecting your loan from the account overview page
calling us on 0330 123 3890 (Mon–Sun 8am–10pm)
visiting your local branch
paying from a current account, in the same way you pay a bill or a person. Please use these payment details:
Account number: 90000468
Sort code: 77-77-90
Reference number: this is your 12 digit loan account number - you can find this on your Internet Banking or any letters about your loan you've received from us.
Pay off your loan early
You can choose to pay off your remaining balance from a Lloyds Bank current or savings account with Internet Banking.
Make sure you're paying the right amount, including any loan interest. To find out how much you should pay, please ask us for an early settlement quote.
You can pay off your loan by:
Logging on to Internet Banking and selecting your loan from the account overview page
calling us on 0330 123 3890 (Mon–Sun 8am–10pm)
visiting your local branch
paying from a current account, in the same way you pay a bill or a person. Please use these payment details:
Account number: 90000468
Sort code: 77-77-90
Reference number: this is your 12 digit loan account number - you can find this on your Internet Banking or any letters about your loan you've received from us.
Early settlement quote
Keep in mind there's no early settlement adjustment on an existing Flexible Loan but there is on the Personal Loan.
You can request an early settlement quote by:
Logging on to Internet Banking and selecting your loan from the account overview page
calling us on 0330 123 3890 (Mon–Sun 8am–10pm)
visiting your local branch.
Important information when paying off your loan early
Depending upon the type of loan you have with us, if you repay your loan in full we will make an early settlement adjustment of up to 58 days' interest.
This adjustment of interest won't be made if your loan has less than 90 days to run to its original maturity date.
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