Existing Personal Loan customers

Yes, you can settle your agreement early in-full or in-part, at any time. Please be aware if you make an early settlement in full, we will charge up to 58 days' interest.

If you wish to pay off your loan in-full you will firstly need to request a settlement quotation by calling us on 0800 169 2000.

To make a partial settlement you can call us to make a debit card payment. As a result of any repayment we will reduce the term of your agreement unless you tell us otherwise.

Your Post Office Loan is regulated by the Consumer Credit Act 1974 (CCA) which gives you certain protections and entitlements when entering into a credit agreement. One of these entitlements is that you can choose to repay your loan either partially or in full before the end of the term you originally signed up for. What is the difference between a Partial and Full Early Settlement?

• Partial Early Settlement – This is where you make a payment towards the sum you owe to us which is over and above your normal contractual monthly repayment amount. There is no limit to the number of early settlements you can make during the term of your loan and there is no minimum or maximum amount you can pay.

• Full Early Settlement – This is where you pay the full amount you owe to us and clear your loan before the end of the original agreed term.

In both cases, you will be entitled to a rebate (further information on rebates can be found below).

You can make a payment in either of the following ways:

• By telephoning us and using your debit card

• By Bank Transfer, once a settlement quote has been obtained. You must include your agreement number as a reference on your payment so that we can correctly apply the payment to your loan.

We will automatically cancel your direct debit once your loan has been settled. If you want to cancel it with your bank you should wait until we have confirmed to you that your loan agreement with us has been closed. If we receive any payments after your loan has closed we will return these to your bank.

Already have a personal loan and need to borrow more? It's quick and easy to apply online for additional borrowing. Need a new car? Improving your home? Paying off your debts? Whatever you’re borrowing for, a Personal Loan from Post Office could be right for you.

You can either:

- Replace your existing loan with a new one and you will have one new monthly payment, or

- Choose to take out a separate loan that sits alongside your existing one.