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Pay off your loan early

Before you can pay off your loan before the end of its term, you'll need to ask us for a settlement figure. There are no charges for making overpayments or settling your loan early.

Settlement figures

A settlement figure is the amount left to pay, including any interest. It’s valid for 28 days and we won’t add any interest during this time.

If you decide not to pay off your loan early, we’ll add the interest that would have applied during the 28 days to your loan.

How to get a settlement figure

Chat to us online

  1. Log in to our Internet Bank (opens in a new window)
  2. Select Need help? Send us a message from the left-hand menu
  3. Select Chat with us
  4. Type personal loan settlement figure once you have started a conversation
  5. You'll be transferred to one our team members, who will be happy to help you

Over the phone

Monday to Friday, 8am to 6pm.
Saturday, 9am to 2pm.
Closed Sundays and Bank Holidays.

UK: 03457 30 20 11
Abroad: +44 1793 65 67 89

Understanding your settlement figure

Your balance might be lower than your settlement figure because of a Direct Debit payment you’ve made.

A Direct Debit could still go out after you get a settlement figure and before you pay off your loan. This will reduce the amount you owe and make your balance lower.

If this happens, you can either:

  • deduct the Direct Debit amount from your settlement figure when you pay off your loan, or
  • wait 9 working days after settling your account and we’ll refund you.

Pay off your loan

Once you have your settlement figure, you have 28 days to pay off the loan.

Note:

You cannot use a credit card to pay off your loan.

Option 1: Transfer money from a Nationwide account, using the Internet Bank

  1. Log in to the Internet Bank
  2. Find the Quick Transfer option
  3. Choose the accounts to transfer to and from
  4. Add the amount to transfer
  5. Use the Go button
  6. Check the details and, if you're happy to make the transfer, choose Yes.

Option 2: Transfer money from a Nationwide account, using the Banking app

  1. Log in to the Banking app
  2. Use the menu and choose Payments & Transfers
  3. Choose Pay or move money
  4. Choose the accounts to transfer to and from
  5. Add the amount to transfer
  6. Use the Next button
  7. Check the details and, if you're happy to make the transfer, choose I confirm that the details above are correct
  8. Use the Make transfer button.

Option 3: Make a payment from a non-Nationwide current account

If you're paying us for the first time, you'll need to set up a new payee. You may be asked to confirm a few details about the account before you can make the payment.

  1. Choose personal account, when asked to select the account type.
  2. Enter your full first name and last name. So that's 'Thomas', not 'Tom'. For joint accounts, you'll only need to use the full name of one of the account holders.
  3. Enter the account's sort code and account number. You'll need to pay the following Nationwide account: sort code 07 00 70 and account number 00001760.
  4. Add your payment reference. Use the sort code followed by the last 8 digits of your loan account number, for example: 070070/XXXXXXXX.

Option 4: Send us a cheque

Please make your cheque payable to Nationwide Building Society 070070, followed by your 8-digit loan account number, for example:

Nationwide Building Society 070070/XXXXXXXX

Please post the cheque to:

Personal Loans Admin,
Nationwide Building Society,
Kings Park Road,
Moulton Park,
Northampton,
NN3 6NW.

Option 5: Visit us in branch

You can visit any branch to pay off your loan.

When you visit a branch, please bring with you some photo ID, like your passport or driving licence.

If you don’t have photo ID, please bring:

  • a statement from a UK-based bank or building society (must be less than 3 months old, and not a Nationwide Building Society account), and
  • a utility bill (such as a gas, electricity or landline phone bill that's less than 3 months old).

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