Coming up to the end of a facility is a good feeling, and the last month or two are usually the most straightforward — but there are a couple of things worth knowing so the finish is clean.
The final instalment may differ
The very last payment is often a slightly different amount from the rest, because it rounds the balance to exactly zero. This is normal. See why your final instalment differs.
Collections stop once cleared
Once the balance reaches zero, there are no further collections — the Direct Debit will not draw against a settled account. Confirm the account is closed rather than assuming. See confirming your final payment cleared the loan.
If you want to finish a little early
Near the end, settling the small remaining balance early can be tidy — request a settlement figure. See how to pay off your facility in full. Keep the closing statement as your record. See what your statement shows after settlement.
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: Why your final instalment differs, Confirming your final payment cleared the loan, Getting a refund after settlement.