How does the interest work and can I make extra payments? | Guarantor Loans, Australia, Online | ClearLoans

How does the interest work and can I make extra payments?

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The most important thing to know about our guarantor loans is that you only pay interest for the time you have the loan, because we calculate our interest daily.

For example, if you borrow $5000 over 36 months but decide to repay the loan in 12 months, you'd only pay interest for those 12 months.

There are no early settlement fees or charges for making extra payments, so you're free to make as many extra payments, alongside your set monthly repayments, as you like.

To make any extra payments online simply log in to your ClearLoans account here

From the Dashboard you can ‘Make a payment’ from your Quick Links or View your payment details and make a payment through there.

To settle your loan early, you can call us directly on 1300 430 935 (9am - 6pm (AEST Mon-Fri)

To view your settlement figure log in to your ClearLoans account here and from the Dashboard under ‘Quick Links’ you can view your current settlement figure by selecting the ‘View Settlement figure’.

Please note that your settlement figure is only valid for 24 hours so if you would like to settle the loan please call us within 24 hours to ensure you have the up-to-date figure.

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