Good news! You can repay your Zip Personal Loan in full at any time, there are fees or penalties for repaying early. Once your loan is repaid, it will automatically close.
To fully repay your loan early in the Zip app, follow these steps:
- Navigate to the 'Home' tab
- Tap the “Profile” icon (top right handle corner)
- Select “Manage Zip Personal Loan”
- Select “Pay out & Close”
- You will be prompted to “Generate payout figure” to see your final balance.
- Tap 'Continue to Payment'.
- After reviewing the final payment amount and selecting your preferred payment method, tap “Pay & Close loan”.
What Happens Next?
Your remaining loan balance will be cleared.
Your Zip Personal Loan account will close automatically.
There are no fees or charges for repaying your loan early.