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Which calculation method matters for early repayment?
Interest can be structured differently across products, and the schedule may not reveal the entire settlement method.
Read the provisions describing how the outstanding amount is calculated.
Request an actual settlement illustration using your agreement's terms. A simple teaching calculator should not substitute for a dated provider figure where charges or product rules differ.
Open the loan comparison guides
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.