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Interest on your personal loan is calculated daily, and then charged at the end of each month. Which means that each day you have a reduced balance on your loan account, you are paying less interest.
Say for example, you get a tax return and are not sure what to do with it. Consider putting it towards your personal loan and you'll save on interest charges. With the redraw available on your personal loan you'll have the option to redraw the funds again if and when you need them.