I have taken a loan from them and when I wanted to make overpayment they told me I still need to pay interest for the time I have reduced my term. So my term is 4 years and if I want to make one off payment (half of the amount I own them ) the term will be reduced in half to 2 years but I will still have to pay interest for 4 years . I have taken other loans in the past and every time I was making overpayments I was getting interest rebate. I was tricked by the low fixed interest rate of M&S but now I will end up paying more. In future I will stick with Admiral or Tesco bank !