Your repayment date will be the first payday (when you receive your paycheck) falling at least 8 days from the date of approval of the loan, in order to ensure that you can repay the loan conveniently.

For example, if the loan is approved on the 21st of March, and your first payday following this date is April 1st, then April 1st is your repayment date. However, if your loan is approved on the 25th of March, and the first payday is April 1st (which falls less than 8 days from the date of approval of the loan), your repayment date will be May 1st.

Repayment Date - Extended Cycles

When you’re unable to repay the loan amount in full on the first repayment date and the loan is refinanced for additional pay cycles, we debit only the interest due for the first month. From the second month onwards, till the final repayment date, we debit a fraction of the principal, which will be split in equal instalments, along with the corresponding interest (calculated on the outstanding principal).

At any point during this extended repayment cycle, you can choose to make an early repayment to keep the interest to a minimum. We charge no prepayment penalties.

If you have an active loan and wish to make an early repayment, call us at 0844 251 0530.