At Nebeus, we understand that financial situations can change, and you may wish to repay your loan earlier than planned. We're here to provide clarity on how early loan repayments work and what to expect when choosing this option.
Please note: Early repayment is only available for Flexible Loans and applies to loan amounts less than €75,000. Mirror loans, bullet loans, and interest-only loans do not qualify for early repayment.
Early Loan Repayment Explained
Q: Can I repay my loan before the full term is completed?
A: Yes, you can repay your loan early if you have a Flexible Loan under €75,000. We encourage our customers to take advantage of this option for greater financial flexibility.
Early Repayment Penalty
Q: Will there be any charges for repaying my loan early?
A: If you repay your loan within the first month, an early repayment fee may apply. This fee covers administrative costs associated with processing early repayments.
To clarify, the early repayment calculation is as follows:
1 month = full loan amount + a certain percentage of the loan amount / 365 days of use + 2.5%.
Interest Calculation for Early Repayments
Q: Do I have to pay the full interest for the entire period if I repay my loan early?
A: No, you do not have to pay the full interest for the entire period if you decide to make an early loan repayment. Unlike some conventional loan setups, Nebeus calculates interest based on the time you actually use the loan. This means that you will only be charged interest for the duration during which you have the loan funds in your possession.
Making Early Repayments
Q: How do I go about making an early loan repayment?
A: To initiate an early loan repayment, you can log in to your Nebeus account and navigate to the loan section. From there, you will find options to manage your loan, including making early repayments. Keep in mind that our customer support team is available to assist you throughout this process should you encounter any issues or have questions.
At Nebeus, we are committed to providing transparent and fair lending experiences. We want our customers to benefit from flexible loan terms that suit their needs, and that includes early repayments. We aim to make the process as straightforward as possible while ensuring you understand the implications and benefits of early loan repayment.
Need Further Assistance?
If you have any more questions or require additional information about making an early loan repayment, our customer support team is here to assist you. You can reach out to us through our support channels, and we'll be more than happy to provide the guidance you need.