Pay Off Your Loan

How do I pay off my loan early?

If you are going to make a partial prepayment or pay off the total amount of your loan, go to "My Account > Borrowing" and click "Make payment". There is never a fee for making prepayments or paying off your loan early.

The principal balance, along with any interest accrued to the date on which the payment will be initiated (which may be one or more days in the future), will be added together to determine the amount required to pay off the loan.

Once payment in full is made, your loan obligation is finished and monthly withdrawals from your bank account will stop. Thank you for using Prosper!

Is there any cost or penalty to paying the loan early?

Nope. You will only pay for the interest that you have used up until the date on which you pay your loan off, and you're done. There are no fees or penalties for paying your loan off early.

What if I just want to make an extra loan payment?

No problem. Learn more about making a loan payment.

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