So I'm thinking about taking out a 18/24 month 0% interest credit agreement with Paypal.
I was wondering what happens to the repayments if I pay a sum of this off early.
For example;
if I was to borrow £700 on an 24 month term, repaying £29.17 pcm.
And then say a month or 2 down the line I made a early repayment of £400.
My question is, in the scenario above, does the remaining balance get spread across the remaining months (basically reducing the monthly payment required).
OR
Does the term of the agreement reduce, maintaining the original monthly payment at the start of the agreement.
Thanks in advance for your help!
