How it works?
CustomPay helps borrowers take real control of their core loans, retire their debts faster, and manage their finances more effectively. Today, NPNs CustomPay program is being used by consumers on nearly every loan payment imaginable. From mortgages to car loans to student loans. Even personal loans are being paid the CustomPay way. It’s simply the easiest way to get ahead with your finances and successfully manage your personal debts.
Our most popular payment option is a fully customizable Biweekly plan. When your clients select this option for their loan, they will see an automatic withdrawal from their checking or savings account every other Friday. Although fully customizable, these withdrawals are typically for half of a monthly loan payment amount.
Because these withdrawals are occurring Biweekly, additional prepayments will be made to the loan's principal balance. This happens because there are 26 Biweekly periods during the course of a year, roughly equal to 13 monthly payments. These prepayments are applied to the borrower’s principal balance in the following month to ensure maximum savings.
