Whether you want to see how much you have left to pay or you’re ready to clear your loan entirely, you can find all the information you need in your Abound dashboard.
Checking your current balance
Your live balance is always visible on your home screen.
Log in to your Abound account.
Your Remaining Balance is displayed at the top of the dashboard.
This figure includes the original loan amount plus any interest that has been added up to today’s date.
Getting a Settlement Figure
A "Settlement Figure" is the total amount required to pay off your loan in full and close your account today.
Why it’s different: Because interest is calculated daily, your settlement figure may be slightly different from your current balance if you plan to pay it off on a future date.
How to get it: Click on 'Manage Loan' and select 'Get Settlement Figure'.
Validity: Your settlement figure is usually valid for 28 days. If you don't pay by the expiry date, you will need to generate a new one to account for the additional daily interest.
Early Settlement: No Penalties
At Abound, we don't believe in trapping you in debt.
No Early Exit Fees: You can pay off your loan in full at any time. We do not charge "early repayment" or "exit" fees.
Save on Interest: Because we only charge interest for the time you actually have the money, settling early means you will pay less in total than if you had kept the loan for the full term.
How to pay your settlement amount
Once you have your figure, you can pay it instantly using your registered debit card:
Select 'Pay Settlement Amount' on your dashboard.
Confirm the payment.
Your account will be updated to 'Closed - Paid in Full' immediately, and you will receive a confirmation email for your records.
Need a formal letter?
If you require a formal "Settlement Letter" for a mortgage application or another lender, you can download a PDF version directly from the 'Documents' section of your dashboard once the figure has been generated.
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