You have two options to pay off your loan faster:
- Make extra repayments every month
- One-time additional repayments
Paying off your loan faster means that you will pay less interest , your debt will be lower and you will be debt-free sooner.
Repay earlier is to your advantage
When taking out your loan, you agreed on an amount that you will repay per month. The monthly amount has been chosen in such a way that it fits within your options. Do you think you can now pay a higher monthly amount? Or do you want to repay an extra amount in one go? This is always possible!
Borrowing is a temporary solution. The sooner you get rid of your loan, the lower the costs!
- You pay less interest.
- Your debt decreases.
- Your loan is more likely to be "0 euros". A nice feeling!
- As soon as your loan has been repaid, you have additional financial options for other fun things.
Pay off an extra amount in one go?
That is also possible, if you have a revolving credit, this is possible without costs and without penalty interest, if you have a personal loan, you pay a maximum of 1% penalty interest on the extra amount that you repay. You do not need to have won the State Lottery, because you can also repay a smaller amount extra.
How much will you save?
That depends on a number of things:
- what type of loan you have (Personal Loan or Revolving Credit)
- the amount of your loan
- the moment you make the extra repayment
- of your monthly installment and of the additional amount you wish to repay
Are you looking for a suitable loan, but are you not yet sure which loan is best for you? Use our loan wiser to find a suitable loan that is adjusted to your needs.
You can also directly specify the desired loan amount and request a quote for your loan completely free of charge and without obligation: