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Pay off chunk of loan and alter monthly payment amount

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  • 04-07-2019 11:35pm
    #1
    krazymuthafuka
    Registered Users Posts: 98 ✭✭


    Hi,

    I'm a couple of months into a five year loan. I would like to know if I pay off a chunk of my loan, say about a quarter of it, is it possible to get my monthly payments reduced over the same term rather than keeping them the same with shorter duration?


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    #2
    Bank of Ireland: Kathryne
    Closed Accounts Posts: 218 ✭✭Bank of Ireland: Kathryne


    Hi there,


    Thanks for getting in touch with us here.

    You can certainly make a payment to the loan account. If the loan is visible on your Online Banking you can do a Quick Transfer into it whenever you'd like. If you can't see the loan then you simply add the loan as a payee and transfer money that way.

    If you'd like to restructure the loan, it's best to link in with them directly on 1850222200.

    I hope this information helps.


    Many thanks,
    Kat


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