Need a hand?

Just pop your question below to get an answer.

Can I prepay Statement Financing instalments?

Customers can prepay one or more instalments in a ‘Statement Financing’ plan by anticipating future instalments to the ongoing statement.

This means paying not just the next instalment due, but also any amount of the following instalments you wish to‌ make. For example, instead of paying the next instalment, you may choose to pay the next three instalments.

By doing this, starting with the next instalment due, you'll have a reduction on the interest that applies to your instalments plan. Anticipating instalments will reduce the total amount due and this is what decreases the interest due, as interest is calculated based on your outstanding balance due.