Can I make extra repayments towards my loan?

Updated 4 months ago

Yes, you can pay more towards your loan at any time. We currently don't charge any fees for this. Simply follow the steps in the guide below. 

Things to keep in mind

  • Paying more will reduce your loan size, the amount of interest you pay and the cost of your monthly repayments.
  • Your loan term will stay the same.
  • You’ll need to pay at least £10.
  • If one of your regular repayments is going through, you’ll need to wait a few days until that’s cleared before making an extra repayment.

The Guide

  1. Sign in to the Zopa app. If you need to, you can download the app. 

2. Select your loan

3. Choose 'Make an extra repayment'

4. Enter the amount you wish to pay

5. Continue to payment

6. Review and confirm

7. All done!

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