new ulsterbank anytime -paying off personal loan?

[pernickety]

Hi all,
I've seen the other discussion about the new UB anytime system and have been taking a look around. I have a personal loan account that I see for the first time with a minus figure (obviously) and enough to pay it off in my current account. I have previously written to UB over several matters and am still awaiting replies (grrrr!), one of those was how much was remaining on my personal loan.
So, I just transferred the amount from current to personal, leaving a balance of zero, and cancelled the standing order. Anyone know if that's the end of the story? Or will I hear from them saying I owe interest....

The new facilities look good, great being able to see the credit card and pay it off online, but it's too little too late for a very dissatisfied customer, who will be closing all accounts as soon as they sort out their mess!

 

[Satanta]

Anyone know if that's the end of the story? Or will I hear from them saying I owe interest....

It depends on the Ts&Cs of the loan. What fees/penalties are due for early redemption of the loan?
Given the information provided, nobody can give a meaningful answer to the question, best to keep checking with UB until you get a meaningful answer.

 

[Bgirl]

All you see there is the amount outstanding not accrued interest. They will come and look for the interest.

 

[Bgirl]

meant to say there is no penalty for paying off a fixed loan with them earlier.

 

[ClubMan]

That sounds very unusual - not to have early encashment penalties on a fixed rate loan.

 

[Bgirl]

am sure on this Clubman. Have done it in the past myself once I get my loans to a reasonable amount I pay them off in full. I have never been penalised.