Can I pay make extra repayments or pay my loan back early?

Yes, you can pay more towards your loan at any time.

The easiest way to do this is in the Zopa app. Head to the 'Borrow' tab, select your loan, tap ‘Make an extra payment’, then follow the steps.

An early repayment charge will apply if you:

• Make a one-off payment of more than £1,000.

• Repay 95% or more of your outstanding balance.

We'll tell you the what the early repayment charge will be in the app before you confirm the payment, so there are no surprises.

Things to keep in mind 

• You'll still need to make your regular monthly repayment. 

• Extra repayments will reduce your outstanding balance, the amount of interest you pay and your monthly repayment amount. Your loan term will stay the same. 

• Extra repayments must be at least £10. 

• If a regular repayment is being processed, you’ll need to wait until it clears before making an extra repayment. 

• Once your payment has cleared, we'll email you to confirm your new loan balance and any changes to your monthly repayments.