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

Large One-Time Payments

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 automatically reduce your monthly payments.

To make a one-time payment click “Login with PatientFi" on our Payment Portal or call our Billing Team directly at (877) 312-3625 Monday - Friday 5am-5pm Pacific time

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.

Disclaimer: Some providers may require a down payment and any questions regarding an upfront cost should be discussed directly with your provider. Additionally, some approvals require down payments based on creditworthiness.

Benefits of Making a Large One-Time Payment

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

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