If you have taken out a top-up loan but wish to return it within your 14-day cooling-off period, you must notify us of your decision within 14 days of signing your top-up loan agreement and return the funds within 30 days.

As a top-up loan involves closing your current loan and opening a new loan, the new loan is not just for the extra cash but also for the settlement figure that will close your current loan. Hence when returning your top-up loan, you will need to return both the cash advance and the settlement figure that closed your previous loan.

This means, after withdrawing from your top-up loan, you won't have any further loan repayments or an open loan account with us.

If you are unable to return both the cash advance and the settlement figure, please contact our Servicing team.

If you signed your loan agreement longer than 14 days ago and haven’t notified us that you wish to withdraw, then you will need to request an early settlement figure.

A Plata top-up loan is for our existing customers who wish to access additional funds. You can apply through your online account.

If you are approved, we will close your current loan and set up a new one, combining the additional funds you need with the amount required to settle your previous loan. This means you will only have a single monthly repayment to maintain. Importantly, the interest rate on the top-up loan will always be the same as the existing loan and in some cases, the interest rate will be even lower, depending upon individual circumstances.

You may be eligible to borrow more money with a Plata top-up loan. We look at a range of factors to determine eligibility, and if you qualify, you will see the option to apply when you log in to your online account. ​

If your application is approved, your new loan will replace the current one. It will cover both the extra amount you want to borrow and what is left on your existing loan (called the settlement figure). This keeps things simple, you will continue to have just one monthly repayment. ​

Your interest rate won’t be higher than what you’re currently paying - and you might even qualify for a lower rate, depending on a fresh credit check. The amount you can borrow will depend on your personal circumstances.​

You can check your eligibility at any time via your Plata loan account.​

Important things to consider before you apply for a top-up loan:​

• It is important that you can comfortably afford the loan repayments and that it won’t cause you any financial difficulty in the future.​
• A top-up loan is subject to fresh credit and affordability checks.