Repaying your loan early

You can repay your loan in full any time before the final payment is due by requesting a settlement figure from us. If you repay your loan early in full, you’ll be charged 30 days’ additional interest.

Read our ‘Your settlement figure’ section below to find out how to request a settlement figure and what will be included in your quote. 

If you have two or less repayments remaining on your loan, the cost to settle your loan early will be more than what is owed, so it won’t be cost-effective for you. We can help if you need to refinance your existing loan or need a ‘top up’ loan. Please contact us if you’d like to talk to us about either of these options.

You can easily make an overpayment with a transfer.

Transferring from your Santander account

To make a payment from your Santander account, you’ll need the following details.

  • Sort code: 09-00-30
  • Account number: 10002108
  • Reference: Use your loan sort code and account number without any spaces.

Transferring from another bank

Please note that we don’t accept international payments.
To make a payment from another bank, you’ll need to pay it to us with the following details.

  • Sort code: your loan sort code
  • Account number: your loan account number
  • Reference: Use your loan sort code and account number without any spaces.

Alternatively, you can do the following.

  • Settle your loan using funds from a new Santander personal loan.
  • Contact us and make an overpayment.
  • Visit a branch and pay by cash or cheque.

Will my Direct Debit reduce if I pay off some of my loan?

If you pay off part of your loan and it doesn't clear the outstanding balance, your loan term will be reduced, but your monthly repayment will stay the same.

If you want to reduce your monthly repayment but keep the same loan term after you've made an overpayment, please contact us and make an overpayment with any of the following.

  • Debit card payment.
  • Standing order.
  • Faster payment.
  • Transfer from an existing Santander savings account.

Your settlement figure will include:

  • your outstanding balance
  • interest up to the date of settlement.

We don't charge a fee to settle your loan early, though we will charge 30 days' interest depending on the remaining term of your loan.

Your settlement figure will be available for 28 days. If you don’t pay during this time, you’ll need to contact us again for a new settlement figure.

How do I get my settlement figure?

You can get an estimated settlement figure in Mobile or Online Banking although this may not be the full settlement figure. To get your exact settlement figure, you’ll need to call us on 0800 028 4055.

Once you get your settlement figure, the easiest way to pay is to call us on 0800 028 4055 within 28 days to make a debit card payment.

What do I do with my Direct Debit?

You don’t need to do anything. If you decide to settle your loan early, you shouldn’t cancel your Direct Debit until your loan account has been repaid in full and the settlement period has passed.

What if I’ve paid too much?

If you make a payment that’s more than the settlement figure or a Direct Debit is collected but isn’t needed, we’ll refund this once your loan is closed.

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