If you no longer need the loan, you can choose to pay it back early. You’ll then pay less interest. There are no early repayment charges and you won’t pay any interest if you pay the full amount before the end of your initial 12 month repayment holiday.
Or, you can make a one-off repayment, as well as additional payments on a regular basis, and doing so will also help save you money on your interest payments.
To make a repayment the easiest way to do this is via Online Banking, Bankline or the Mobile App. For business customers the limit for payments via Online Banking and the Mobile App per working day is £50,000.00.
If you wish to settle your loan early, please speak to your usual Bank contact. Please note there may be accrued interest to pay in addition to the outstanding capital balance. The loan cannot be redrawn once repaid.