Banking
Can I repay a personal loan early?
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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.
Last reviewed:
Reviewed by Kaiser Khan
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.
Primary source: fca.org.uk/consumers/loans
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