Can you make repayments faster than a fixed loan will allow?

29 May 2008

A fixed loan will usually not allow you to make extra repayments during the fixed interest rate period, which means you could end up paying more than you have to. If you believe you can pay more than a fixed loan will allow in repayments, then you may wish to consider a variable loan instead, or else you may wish to save the extra in a high interest savings account to be used for payments in the future.

Please visit our comparison page of personal loans if you would like to see what kind of fixed loan a lender could offer you.


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