A Slice schedule is a fixed plan, not a running balance that grows. When you accept your offer, the total you will repay is already settled: the amount we advanced to pay your supplier, plus the cost of credit set out in your agreement. That total is divided into a set number of instalments with a fixed date and amount for each one. Nothing is added later for simply having the credit, so the figure you sign up to is the figure you finish on.
What the planned cost means
The planned cost is the agreed total across the whole schedule, worked out up front rather than accruing day by day. Because it is fixed, the schedule does not get more expensive if the credit runs its full term — it is the same total whether you reach the last instalment exactly on plan or a little ahead. You can see every date and amount before you commit, which is covered in how Slice pricing is shown before you commit.
How each payment is allocated
When an instalment is collected by Direct Debit, it is applied to your Slice agreement in a set order:
- First to any charge already due on the account, such as a missed-instalment charge from a previous collection that failed
- Then to the cost-of-credit portion built into that instalment
- Then to the advanced principal — the part of the bill we paid your supplier
This order is why keeping each collection funded matters. If a payment fails and a charge is raised, the next collection clears that charge before it reduces principal, which is set out in what happens if a Slice instalment is missed.
What an overpayment does
If you pay more than an instalment asks for, the extra comes off your outstanding balance rather than sitting as credit on the account. Because Slice has a fixed planned cost, reducing the balance early can reduce the unused portion of the cost of credit — you are not charged for time you no longer use. An overpayment does not, by itself, cancel future Direct Debit collections; if you want to change the shape of the plan, speak to us first. Adjusting individual dates is covered in changing your Slice instalment dates.
Settling the whole agreement early
You can clear the full balance at any point. When you settle early, the schedule stops and the unused part of the cost of credit is removed from the figure, so you pay less than the planned total — explained in can I repay Credicorp Slice early. The portal shows the exact settlement amount for the date you choose, so there is no guesswork.
A fixed plan, start to finish
The point of structuring Slice this way is predictability. A limited company or LLP taking Slice knows the number of instalments, the date and size of each, the allocation order, and exactly what early action does to the balance — all before accepting. Slice is business lending from Credicorp as an FCA-exempt business lender, not consumer credit, so the protections of the Financial Ombudsman Service and FSCS do not apply; the safeguard here is that the plan is fixed and visible rather than open-ended. If anything about your schedule is unclear, our team can walk through it before you commit.
See also: Can I use Slice more than once?, Does Slice require a personal guarantee?, How many instalments does Slice spread a bill over?.