Can I cancel my loan within 14 days after signing the loan agreement?
Yes, you can cancel the loan within 14 days of signing the agreement. In this case, the entire loan amount must be repaid, plus all the interest accumulated up to the repayment date. You don't have to pay a contract fee. However, the contract fee will be added after 14 days.
To cancel the loan within 14 days, follow these steps:
- On your dashboard, scroll down to the 'Loans' section and click on 'Overview.'
- Then select 'View details.' There you will see the Balance that you need to pay to cancel your loan. Remember, the amount changes every day due to the interest calculation. Make sure you have the full amount on your Bondora account to cancel your loan. (Here's a refresher on how to add money to your Bondora account.)
- Once you have the right amount on your Bondora account, click on the "Cancel Loan" button on the right-hand side of your loan overview.
- You must then confirm and 'sign' the agreement's termination with a PIN code, which will be sent to your registered phone number. The loan agreement will only expire after you've agreed with the PIN.