Can I make extra repayments towards my loan?

Updated 9 months ago

Yes, you can pay more towards your loan at any time. The easiest way to pay more is by using the Zopa app. Select your loan, then ‘Make an extra payment’ and follow the steps. We currently don't charge any fees for this.

Things to keep in mind

  • You'll still need to make your regular monthly repayment

  • Paying more will reduce your loan size, the amount of interest you pay and the cost of your monthly repayments but 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.

  • Once your payment's cleared, we'll send you an email confirming your new loan balance and any adjustments to your monthly repayments.

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