Can I pay off my loan early?

Modified on Fri, 19 Apr 2024 at 10:00 AM

The short answer is - yes!

You are able to pay off your Fig loan at any time without paying any additional fees. Fig is proud to provide loans that work for you! Part of that means providing open loans that can be closed at any time by paying the remaining balance, regardless of your term.

If you'd like to make a manual payment, check out our help centre article: Make a manual payment

What fees will I pay?

  • None! Zero! Fig charges no early repayment fees, no loan closing fees, and no payment processing fees, whether paying a partial lump sum, or full loan pay off.

What will my interest charges be?

  • Fig charges daily interest to be sure you only pay interest on what your current balance is. When a lump sum payment is made, only interest from the date of your last payment up until the date you are submitting your payment is owed.
  • Once your balance reaches $0, no further interest payments are due.

How can my bank pay off my loan for me?

  • If you are consolidating your finances and including your Fig loan, your bank may want to submit your loan payment for you, please contact us and our support team would be happy to help!

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