If you already have a loan with us, we've a range of flexible ways to help you. If your needs have changed, we're here to help.
Making additional payments to your loan can reduce the overall interest you’ll pay and may reduce your loan term. If you make additional payments to your loan you must continue to pay your monthly repayments.
CloseMonthly repaymentsWith a loan, we give you a sum of money up front and each month after that you pay back some of what you owe. That monthly sum is called your repayment. With our personal loans, your repayments are fixed. That means you’ll owe the same amount each month for the entire life of your loan.
Please note, manual payments will not take the place of your monthly payment. We will still take your Direct Debit as planned on your usual payment date.
You can make additional payments by:
You can choose to pay off your remaining balance from a Lloyds Bank current or savings account with Internet Banking.
Make sure you're paying the right amount, including any loan interest. To find out how much you should pay, please ask us for an early settlement quote.
You can pay off your loan by:
Keep in mind there's no early settlement adjustmentCloseEarly settlement adjustmentYou can fully or partly repay your loan at any time during the repayment period. If you choose to settle your loan before it’s completed its full term some of our loans may charge an early settlement adjustment. If you’ve taken out a Flexible Loan you agree to repay the capital plus the interest as it accrues. If you pay off your loan in full before the end of the agreed term, we’ll calculate what you owe us at the time which will include capital plus interest accrued but no additional charge. If you’ve taken out any of our other loans including the Personal Loan, the amount you agree to repay include the interest that is charged to the end of the loan term. If you make an early settlement we’ll reduce the charge for credit you have agreed to pay us which means you don’t have to pay all the interest. This reduction may be adjusted by up to 58 days’ interest – this is the early settlement adjustment. on an existing Flexible Loan but there is on the Personal Loan.
You can request an early settlement quote by:
Depending upon the type of loan you have with us, if you repay your loan in full we will make an early settlement adjustment of up to 58 days' interest.
This adjustment of interest won't be made if your loan has less than 90 days to run to its original maturity date.
If your circumstances have changed, you can alter the repayment date of your existing loan. Repayment dates cannot be accepted for the 29th, 30th and 31st of the month. You can also change the account from which your loan repayments are made.
You can change the repayment date of your loan, or the account which it is paid from, by:
A repayment holiday gives you a one-month break from your loan repaymentsCloseRepaymentsWith a loan, we give you a sum of money up front and each month after that you pay back some of what you owe. That monthly sum is called your repayment. With our personal loans, your repayments are fixed. That means you’ll owe the same amount each month for the entire life of your loan..
You have the option to apply for up to two repayment holidays of one month in a rolling 12 month period, subject to approval.
Interest will be charged if you take a repayment holiday, so you'll pay more interest overall and your original term will be extended.
We'll advise you of the additional interest before we finalise your repayment holiday.
You need to inform us at least five days before your next loan repayment is due for this to be applied to your next payment.
You can request a repayment holiday at any time, providing you:
You can request a repayment holiday by:
We want to find a product that’s right for your circumstances, which is why we adhere to the Standards of Lending Practice, which are monitored and enforced by the Lending Standards Board.
To find out more you can read the statement of responsibilities, which details what’s expected of us, the lender and you the borrower.