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Early repayment savings depend on a dated calculation
The effect of settlement depends on the agreement's treatment of interest and applicable charges.
A remembered balance or generic calculator can miss adjustments at the payment date.
A provider breakdown lets the borrower compare remaining scheduled cost with the actual exit amount. This explains the method without promising that every early settlement is free or saves the same way.
Work through the repayment planning guide
Definitions
- Total repayable
- Sum payable under the stated schedule and its assumptions; contingent charges and changes must be considered separately.
- Amount received
- Money actually made available to the borrower, which can differ from the stated loan amount if a charge is deducted.