# How do I pay off my loan?

> Your loan payoff will happen automatically after you’ve made all your scheduled payments over the 12-month term of the loan. You can pay off your loan ...

Source: https://help.moneylion.com/en_us/how-do-i-pay-off-my-loan-B1uXnfRfY

Last updated: 2026-06-22T17:52:42.790Z

You can pay off your loan over 12 months with automatic scheduled payments. We always recommend making the full schedule of payments to get the full credit-building benefit, however, we understand you may want to pay off your loan early. To pay your loan in full via the mobile app:  
  

1.  Click on the bank icon at the bottom of the screen and select Credit Builder Plus 
    
2.  Select “Make a payment” 
    
3.  Choose the “Pay loan in full” option and follow the steps provided
    

4.  Choose the payment method you would like to use and click “Next.” Or, if you haven’t yet added the bank account or debit card you want to use to your Wallet, please click “Add a Payment Method,” add your bank account or debit card there, and click “Next”
    

  
We accept the following payment methods for paying off your Credit Builder loan in full: 

*   Debit card — The fastest way to pay off your loan and receive your Credit Reserve account funds is to make your final payment on the loan via debit card. To use a debit card, 
    
    *   Select payoff via debit card once you click the “Pay loan in full” button described above.
        
    *   If you pay off your loan from your MoneyLion Spend account or via any debit card, the balance in your Credit Reserve account will typically be disbursed to either your MoneyLion Spend account or your external linked bank account within 7 business days.
        
*   Credit Reserve account — You may use the funds in your Credit Reserve account to pay off your Credit Builder loan only if the funds available exceed the outstanding balance on your loan. The funds in your Credit Reserve account may only be used to pay off a Credit Builder loan, not for any other outstanding payments. 
    
    *   If you pay off your loan with your Credit Reserve account, any remaining Credit Reserve funds will typically be disbursed to either your MoneyLion Spend account or your external linked bank account within 7 business days.
        
*   Bank account payments (ACH) — To make an ACH payment from a linked bank account, you must have the bank account linked in your MoneyLion wallet. To add a new bank account, tap your profile picture in the top left-hand side of the app to open the Main Menu. 
    
    *   Select [Wallet](https://moneylion.kustomer.help/en_us/how-do-i-add-a-checking-account-to-my-moneylion-wallet-ryUpsM0MY) and click “+ Add Payment method.” 
        
    *   If you pay off your loan using an electronic ACH transfer, the balance in your Credit Reserve account will typically be disbursed to either your MoneyLion Spend Account or your external linked bank account within 7 business days.
        

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**_Keep in mind…_**

*   If you have a loan payment “In Process”, please wait until that payment has been completed before attempting to pay the loan in full. 
    
*   To help ensure the security of your account, you may not be able to apply for a new Credit Builder Loan for some time after you pay your previous loan. This period could last up to 60 days. 
    
*   If you are still experiencing issues, please delete your chosen payment method from your Wallet and re-enter your payment information to complete the request, or try again with another payment method.
    
*   If you have funds in your Credit Reserve account to be released, you'll be informed of where the funds will be disbursed. If you have an active MoneyLion Spend account and MoneyLion Debit MastercardⓇ, we will disburse your funds there automatically. 
    
    *   If not, we will disburse the funds to the same external checking account you used for your loan payments. You will not be able to complete your payment if there is no destination account listed in your MoneyLion Wallet. If this happens, please reach out to our Customer Care team for assistance.
        

  
As mentioned above, the ACH and Credit Reserve payoff methods have longer processing times. Depending on your payment method, the payment can take up to 5 business days to fully process. Once your final payment clears, we will release your Credit Reserve account funds to your selected account.

  
If you have trouble arranging a full payoff on our app, please contact our customer care team at 1-844-224-0087.

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Credit Builder Plus membership ($19.99/mo) unlocks eligibility for Credit Builder loans and other exclusive services.   
  
Credit Builder loans have an annual percentage rate (APR) ranging from 5.99% APR to 29.99% APR, are offered by affiliates of MoneyLion and subject to approval. The Credit Builder loan may require a portion of the loan proceeds to be deposited into a Credit Reserve Account maintained by ML Wealth LLC and held in non-marginable securities by DriveWealth LLC, member SIPC and FINRA. Not available in all states.  
  
Credit Reserve Accounts Are Not FDIC Insured • No Bank Guarantee • Investments May Lose Value. For important information and disclaimers relating to the MoneyLion Credit Reserve Account, see Investment Account FAQs and ML Wealth LLC’s FORM ADV. Please also refer to your Loan Agreement.  
  
Credit score improvement is not guaranteed. Credit scores are independently determined by credit bureaus, and on-time payment history is only one of many factors that such bureaus consider. Your credit score may be negatively impacted by other financial decisions you make, or by activities or services you engage in with other financial services organizations.