Will Making a Large One-Time Payment Reduce My Monthly Payment?

While making a large one-time payment toward your PatientFi loan can lower your overall balance and reduce the length of your repayment term, it does not reduce your scheduled monthly payment amount.

How Payments Are Structured

When you accept a PatientFi loan, your monthly payment is calculated based on:

The total amount financed.
The loan term length.
The interest rate (if applicable).

These factors are fixed for the duration of your loan agreement, ensuring consistency in your payment schedule.

Benefits of Making a Large One-Time Payment

Even though your monthly payment amount won’t change, a large one-time payment offers other advantages:

Lower Total Interest Paid: By reducing your principal balance early, you’ll accrue less interest over the life of the loan (if interest applies).
Faster Loan Payoff: A large payment can shorten the time it takes to fully repay your loan.

FAQs

Can I Request to Lower My Monthly Payment After a Large Payment?

No, PatientFi does not allow changes to the agreed-upon monthly payment amount.

How Do I Make a Large Payment?

You can make a large one-time payment through your Payment Portal or by calling our Payment Department at (877) 312-3625.

Will My Loan Be Paid Off Sooner?

Yes, making a large one-time payment can reduce the remaining term of your loan by lowering your principal balance.

If you have additional questions about your loan payments or want assistance making a one-time payment, contact our Support Team at (866) 734-5979. We’re here to help!