Thinking about paying off your Zip Personal Loan early? You can do that anytime and we don’t charge early repayment fees. Once it’s repaid in full, your loan will be closed.
Here’s how to do it step by step in the Zip app:
- Navigate to the 'Home' tab
- Tap the “Profile” icon in the top right handle corner
- Select “Manage Zip Personal Loan”
- Select “Pay out & Close”
- You will be prompted to “Generate payout figure”.
- Tap 'Continue to Payment'.
- After reviewing the final payment amount and selecting your preferred payment method, tap “Pay & Close loan”
What Happens Next?
Your loan balance will be cleared.
Your Zip Personal Loan account will be closed automatically.
There are no early exit or payout fees, so you won’t be charged anything extra for closing early.