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How do I close my loan account?


You can make overpayments at any time and this could shorten your loan term.

For loans applied for from 15 November 2010 we charge:

  • 58 days interest if the original loan term was more than 12 months.
  • 28 days if the original loan term was 12 months or less.
  • The remaining number of days interest if there are less than 58 days (or 28 days) left in the loan term.
  • Interest is charged on the amount by which your outstanding balance is reduced.

We recommend you contact our lending team or visit a branch along with your Debit Card, Pin (if one has been issued) and proof of ID if you would like to discuss the impact of the overpayment before you make it. If you don't have a Debit card relating to your loan account, please bring in an active Debit card on any account you hold with us.

If you bank online

You can set up a new payee to make additional payments into your loan. You may be asked to use your card-reader when setting up a new payee. You can order your card-reader from within your Online Banking service.

You will receive a letter confirming the change to your loan.

Early closure/repayment

If you wish to settle your loan early, please contact our lending team. The balance you see on Online Banking is not the amount needed to pay off your loan in full. We charge a fee on the same basis as for overpayments, except that the fee is charged on the amount of the loan that is repaid ahead of the due date.

If you're taking additional borrowing, apply for the total amount you require to pay off your existing loan plus any additional funds you require:

  • Your existing loan will be repaid and closed down and the remaining balance released to you.
  • The total borrowing will then be at the new interest rate, as your previous loan will have been repaid.

NatWest Lending
0800 200 400
overseas: +44 121 929 0323
Minicom: 0800 404 6161
Open Monday to Friday 8am - 8pm, Saturday 9am - 3pm (excluding public holidays)
Calls may be recorded.