AIB loan - save money by paying off early?

rcanpolat · 2020-09-29 17:18:18

I have an AIB personal loan. It was 8000 when i got it, i have around 1200 left to pay off. If i pay it off early will i save money vs continuing to pay monthly until the balance reaches zero? AIB have no penalty for paying off early but would i end up paying the same in interest either way?

29-09-2020 06:18PM

#1

rcanpolat

Registered Users, Registered Users 2 Posts: 146 ✭✭

Join Date: January 2009

Posts: 109

I have an AIB personal loan. It was 8000 when i got it, i have around 1200 left to pay off.

If i pay it off early will i save money vs continuing to pay monthly until the balance reaches zero?

AIB have no penalty for paying off early but would i end up paying the same in interest either way?

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Comments

#2 29-09-2020 06:28PM

Henry Ford III

Moderators, Business & Finance Moderators Posts: 18,197 Mod ✭✭✭✭

Join Date: January 2006

Posts: 17850

Possibly. Ask them.

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