From: "Tim" 
Newsgroups: uk.finance
Subject: Re: How to calculate outstanding balance on a personal loan ...
Date: Tue, 30 Nov 2004 11:54:43 +0000 (UTC)

> >"Neaco" wrote
> >> ... like any of the other banks, they give
> >>you diddly squat back in interest rebate, ...

They usually abide by the law - which gives them a minimum rebate that is
allowed, based on the 'Rule of 78'.
[There is something like a single or two- month interest "penalty" allowed,
but no more.]

"Neaco" wrote
> ... I once asked a loan company a settlement figure
> for a loan that still had 18 months to go until final
> repayment and the saving on interest was about £20.

Ah, I see - you are talking from (poor) knowledge of a single case, where
you didn't even understand the numbers at the time.
No wonder you've mis-understood the system!   :-(