Rounding your regular payment up to the nearest convenient figure — paying a little more than the exact instalment each time — is a painless way to chip away at an interest-bearing balance. The small extra adds up over a term.
How it works
You pay the scheduled instalment plus a modest top-up. On an interest-bearing facility that extra reduces the balance faster, so less interest accrues from then on. See how overpayments are applied and does paying early save interest.
Setting it up
The simplest way is a small standing order alongside your Direct Debit, or an increased regular collection if we can arrange it. See setting up regular automatic overpayments and how to set up a standing order. Tell us whether you want the extra to shorten the term or reduce future payments.
Keep it sustainable
Only round up by an amount the company can comfortably keep paying. If a month is tight, drop back to the exact instalment rather than risking a miss. See paying ahead to build a buffer.
Credicorp lends to companies rather than to you personally, so this is business finance outside the consumer-credit regime. That does not change the practical steps below.
See also: Setting up regular automatic overpayments, Making a partial overpayment, Can I overpay to clear faster?.