Flexibility and Control
The great news is, you are in control. If there are times when you can spare a little more money you can make additional repayments, up to the same amount of your minimum repayment. By doing so, you will actually control the amount of overall interest charged, because we only charge interest on your outstanding balance.
So, as the length of the loan period reduces with additional payment, so does the amount of interest you would otherwise have had to pay. |