Monzo Loan management

I currently have a small loan and Happy that you can pay a little off early and payments before the pay date.
Making loans as flexible are key to why I choose this on my account.
I would like to suggest another flexibility for consideration.
An option to pay a particular month off ie I have been making both extra and early monthly payments but would like the facility to to pay the last payment date which would effectively shorten the loan term.
Hope this is of interest to you

I have never had a Monzo loan so I don’t know exactly how it works but surely if you’re paying off extra then it will shorten it anyway?

If you borrow £1200 over 12 months and pay off £100 a month, then if you pay off an extra £100 during that, then you won’t need the extra month?

(Interest ignored for sake of ease)

It reduces the remaining payments rather than reducing the loan length

That’s how the one I use with Currys works, their finance partner allows you to either reduce the amount or reduce the term.

I’ve not paid any extra off on my Monzo loan just yet, but probably start that half way through 2021. I’ll just have to increase my manual payments on a monthly basis, to counteract the reduced payment they take because of additional payments.