You can pay off a Credicorp Slice early at any point before the final instalment date, and there is no early-repayment charge. Because the fee is flat and fixed at the start, your total repayment does not increase if you hold the facility to term, and it does not decrease if you clear early — you simply stop the instalment schedule and settle the outstanding balance in one payment.
How to request an early settlement
Contact Credicorp through your account portal or by getting in touch with your account manager. We will confirm the remaining balance — which is the instalments still to fall due — and arrange to collect that amount, or provide payment details for a single BACS transfer. Once received, the Slice is marked as closed and no further collections are made.
Why early repayment makes sense
If an unexpected payment comes in from a customer, clearing your Slice early frees up cash-flow headroom and removes a scheduled outgoing from your diary. Because there is no cost penalty for doing so, it is a sensible option whenever liquidity allows. It also means you can apply for a fresh Slice — or a different Credicorp facility — against a clean slate if another bill needs spreading.
What early repayment does not do
Settling early does not entitle you to a refund or reduction of the 6% flat fee already charged. The fee is the cost of the facility being put in place, not a time-based charge. If you want a structure where costs reduce with faster repayment, a Credicorp Business Loan with its own terms may be worth considering instead.
We lend only to UK limited companies and LLPs, and the loan is to the company with no director personal guarantee. As business finance outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS.
See also: What is the weekly instalment schedule for a Slice?, Can my company use Credicorp Slice more than once?.