When you take out a loan, you’re making a long-term financial commitment — but what if we told you there’s a way to save money and reduce your financial stress at the same time? At C1, we actively encourage our customers to pay off their loans early — and here’s why.

 

The Benefits of Paying Off Your Loan Early

  1. Save on Interest
    The biggest benefit of repaying your loan ahead of schedule is the interest savings. The faster you reduce your principal balance, the less interest you pay over the life of your loan. It’s that simple.
  2. Boost Your Financial Freedom
    Imagine what you could do without a loan payment each month — build your savings, invest in your future, or simply enjoy more financial breathing room. Paying off your loan early puts you in control.
  3. Improve Your Credit Health
    Reducing your overall debt can positively impact your credit score. It shows lenders that you’re a responsible borrower, which can help with future borrowing or credit opportunities.

 

No Early Payout Fees – Ever

Unlike some lenders, we don’t believe in penalising our customers for being financially responsible. That’s why we don’t charge early payout fees. Whether you want to make extra repayments regularly, make lump sum payments or clear your balance entirely ahead of schedule, you’re free to do so — without any hidden costs.

 

Tips to Pay Off Your Loan Early

Here are a few smart strategies to help you get ahead:

  • Make Extra Payments: Even small additional payments can make a big difference over time.
  • Round Up Your Repayments: Rounding up to the nearest $10, $50 or $100 can help chip away at the principal faster.
  • Use Windfalls Wisely: Tax refunds, bonuses, or any unexpected income can go a long way toward reducing your loan balance.

 

We’re Here to Help

We believe financial wellbeing starts with flexibility and transparency. Whether you’re just starting your loan journey or you’re ready to pay it off early, we’re here to support your goals — not stand in the way of them.

Have questions or want to know how much you could save by paying off your loan early? Get in touch with our team — we’d love to help.