Your Right to Repay Early

Your Right to Repay Early

You have the legal right to pay out your Jingle loan early at any time. This right is protected under Australian consumer credit law and can help you save money.

What This Means for You

No penalties or early repayment fees – You will not be charged a penalty or fee to close your loan early. You’ll still need to pay any fees or interest that have already accrued, your outstanding principal balance, and any overdue/default fees (if applicable).

Small Loans (SACC) – Because these loans only have an establishment fee (20% of the loan) and a monthly fee (4% of the loan), paying early stops any future monthly fees from being charged.

Medium and Large Loans (MACC & LACC) – These loans include interest as well as fees. Paying out early reduces the interest you’ll pay, because interest is calculated across the loan term. Repaying your loan early means you avoid some of that future interest.

How to Pay Out Early

Step 1: Request a Payout Figure

Contact us to get your current payout amount:

• Phone: 1300 654 230
• Email: hello@jingle.com.au

Step 2: Receive Your Statement

We’ll provide you with a written payout figure within 7 days of your request (as required by law). This will show:

• The exact amount needed to close your loan
• The date the figure is valid until
• How to make the payment

Step 3: Make the Payment

You can pay out using:

• Bank transfer
• Direct debit (if arranged)
• PayID

Example – Small Loan (SACC)

• Original loan: $1,000 over 6 months
• Establishment fee (20%): $200
• Monthly fees (4% × 6 months): $240

Total repayable if held full term: $1,440

After 3 months you’ve repaid: $620

($500 principal + $120 monthly fees)
Payout figure: $500 (remaining principal only)

You save: $120 in monthly fees that would have applied over the final 3 months.

Important Things to Know

• Timing matters – Get a current payout figure before paying, as the amount changes daily as fees/interest accrue.
• No minimum term – You can repay from day one if you like.
• Requesting a payout figure doesn’t commit you – It’s simply an up-to-date quote.
• No notice required – But it’s best to request a figure so your repayment closes the loan cleanly.

Ready to Pay Out Early?

Get in touch today:

• Phone: 1300 654 230 (Mon–Fri, 9am–5pm AEST)
• Email: hello@jingle.com.au
• Online: Submit your query online here

We’ll provide you your payout figure within 7 days of request.

This information is general in nature. The exact payout amount will depend on your specific loan terms and current balance.