Absolutely! PayBright payment plans are repayable in full or in part at any time, with no penalty. Every penny from your extra payment goes directly toward the principal loan balance. This means that you'll pay less interest overall (if applicable) and may even pay off your loan early.
Extra payments won't lower your monthly payments, but they can reduce the term of your loan, your final payment, or both.
To schedule extra payments or a full balance payoff, please log into your PayBright Portal and select the loan you want to pay off. You will have the option to either make a partial prepayment or payoff your agreement in full.
3. What method of payment does PayBright accept?
The methods of payment available to make your automatic PayBright payments are determined by the retailer.
Here are the options for setting up your automatic payments:
- Pre-authorized debit transactions where you connect to your online bank account
- Credit Card (Visa or Mastercard)
Available payment methods may vary depending on the payment plan selected.
For more information, visit the PayBright Help Centre or contact PayBright.