Repaying a LakeShore Loans loan is straightforward, with most payments automatically deducted from the borrower’s bank account according to the agreed schedule. For added flexibility, borrowers can log into the customer portal on the website to make additional payments or manage their account. This setup provides a convenient way to stay on top of repayments without requiring a separate app, streamlining the loan repayment process.
Make Payments Online Through the Bank Account
Access the Customer Portal. Visit theLakeShore Loans website and click on the "Customer Portal" link.
Log In. Enter your registered email address and password to access your account.
Navigate to Payments. Once logged in, go to the payments section.
Make a Payment. Follow the prompts to complete your payment.
Make Payments Through a Different Bank
Obtain Payment Details. Gather all necessary information, including your loan account number and the LakeShore Loans account details where the payment should be sent.
Log in to Your Bank Account. Access your bank’s online banking portal by logging in with your credentials.
Set Up a New Payee. Navigate to the bill pay or transfer section of your bank's website. Select the option to add a new payee and enter the LakeShore Loans payment details, including the bank account number and routing number.
Schedule the Payment. Choose the payment date and enter the amount you wish to pay. Confirm the details and schedule the payment. You can choose to make a one-time payment or set up recurring payments if your bank supports this feature.
Confirm and Track the Payment. After scheduling the payment, confirm the transaction. Keep an eye on your bank account to ensure the payment is processed and funds are deducted.
Via ATM
Locate an ATM. Find an ATM that supports loan payments. Some banks and financial institutions offer this service.
Insert Your Debit Card. Insert the debit card linked to your bank account into the ATM.
Select the Payment Option. Navigate through the ATM menu and select the option for making bill payments.
Enter Payment Details. Provide the necessary details, such as your LakeShore Loans account number. You might also need to enter the amount you wish to pay.
Confirm and Complete the Transaction. Review the payment details for accuracy. Confirm the transaction to complete your payment.
Can I make an early repayment on my LakeShore Loans loan?
Yes, LakeShore Loans allows early repayments without any prepayment penalties, so you can pay off your loan ahead of schedule if desired.
What happens if I miss a payment on my LakeShore Loans loan?
If you miss a payment, you may incur a late fee. It’s best to contact customer service if you’re unable to make a payment on time to discuss potential options.
Are there any fees associated with repaying my LakeShore Loans loan?
While there are no fees for early repayment, a late payment fee may apply if your payment is more than three days overdue. Returned payments may also incur a fee.
