# Can I repay a personal loan early?

> Quick answer · Last updated 5 July 2026

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## In short

Yes on most regulated UK loans, but lenders may charge up to two months' interest as an early settlement fee.

Request a settlement figure before lump-sum repayment.

Early repayment cuts total interest — often worthwhile despite fees.

Unregulated loans may have harsher penalties — read terms.

See compare personal loans guide.

## Related

- [Compare personal loans](https://moneyguide.org.uk/credit/compare-personal-loans-guide/)
- [Personal loan eligibility](https://moneyguide.org.uk/credit/personal-loan-eligibility-explained/)

## Primary source

fca.org.uk/consumers/loans

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Independent UK money guidance from [Money Guide](https://moneyguide.org.uk). Money Guide is not a financial adviser and does not currently earn commission on credit cards. This guide is educational information only — always check the issuer's own terms, eligibility checkers and fees before applying. 18+, subject to status. Credit is a commitment: only borrow what you can repay in full each month, because interest charges erase every reward on this page.