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Paying personal loan back early

  • 16-02-2021 11:54pm
    #1
    anyanka
    Registered Users, Registered Users 2 Posts: 19 ✭


    Hi, I recently took out a €20000 loan (Aug 2020) which is payable back over 5 yrs, I am reviewing my finances and feel I could afford to pay back approx €100 extra a month on this loan. I have couple of queries.

    1. If I pay back loan earlier than 5 yrs will I be charged a fee and if yes roughly what would that be?
    2. If say I did set up to overpay €100 monthly could I also then randomly pay back more than that if I found I had a bit extra cash at end of a month also?
    Thanks


Comments

  • #2
    anyanka
    Registered Users, Registered Users 2 Posts: 19 ✭anyanka


    Hi, anyone in BOI able to get back to me on this??????


  • #3
    Bank of Ireland: Aisling
    Closed Accounts Posts: 487 ✭✭Bank of Ireland: Aisling


    Hi There,

    Thanks for getting in touch with us here on Board.ie. We're so sorry you missed your original post.

    In this instance, it would be best to link in with our Lending Team directly about this, they will be more than happy to advise you on this and how best to pay back your loan earlier than originally expected. They can be contact on 1850 22 22 00, the team are available Monday to Friday 9am-5pm.

    Thanks, Aisling


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