Some companies like to chip away at the balance faster by paying a fixed amount extra each month on top of the scheduled instalment. It is a sensible way to reduce the cost of an interest-bearing facility, and it can be arranged.
Two ways to do it
You can either set up a standing order from your own online banking for the extra amount, alongside the Direct Debit that takes the scheduled instalment, or ask us whether the regular collection can be increased. A standing order you control is often simplest because you can start, change or stop it yourself — see how to set up a standing order for repayments.
How the extra is applied
Tell us whether you want the regular overpayment to shorten your term or reduce future scheduled payments — the default is usually to reduce the balance and therefore the term. See does an overpayment reduce my payment or term and how overpayments are applied.
Keep it affordable
Only commit to a regular overpayment the company can sustain — it is easy to stop a standing order, but the point is to build a habit you can keep. If a month is tight, pause the extra rather than risking the scheduled collection. 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: How to set up a standing order for repayments, Making a partial overpayment, Can I pay extra towards my balance?.