Eagle Loan charges no prepayment penalty. You can pay off your loan early at any time, stop interest from accruing, and get your collateral released faster.
Ask specifically for a "payoff quote." Have your account number ready. The quote includes your remaining principal plus interest accrued to a specific date.
The online portal at account.eagle.com shows your current balance and allows you to request payoff information 24/7.
Make the full payoff payment by calling your branch, visiting in person, or transferring from your linked bank account. Confirm the payment clears completely.
After payoff, contact your branch to initiate the lien release process. If you used a vehicle title as collateral, Eagle Loan will remove the lien and return the clean title to you.
| Loan amount | Original term | Pay off 6 mo early | Estimated interest saved (at 60% APR) |
|---|---|---|---|
| $1,500 | 12 months | Month 6 | ~$180 saved |
| $3,000 | 18 months | Month 12 | ~$480 saved |
| $5,000 | 24 months | Month 18 | ~$1,100 saved |
| $10,000 | 24 months | Month 18 | ~$2,200 saved |
Estimates at 60% APR for illustrative purposes. Your actual savings depend on your approved rate. Use our Eagle Loan calculator to estimate your specific loan.
Within a few days of your final payment clearing, contact your branch to confirm payoff and begin the lien release process. If you used a vehicle title as collateral, the lender submits a lien release to your state DMV. Processing times vary by state: Indiana typically 2–4 weeks, Kentucky 3–5 weeks, Ohio 2–3 weeks, though these vary by county.
Keep your payoff confirmation in a safe place — letter, email, or portal receipt. This proves the obligation is satisfied and is important if a discrepancy ever appears on your credit report. Your paid-off account will show as positive history for up to 10 years, continuing to benefit your score long after the loan is closed.