Pitfalls to avoid in personal loan: #1 Prepayment Charges
Tuesday, May 23, 2017, 11:51 AM
Some lenders charge prepayment penalty for loan pre-closure. In such situation, you will be forced to drag the loan repayment. So never forget to ask your lender if any pre-payment penalty is charged. Pre-payment penalties may vary from lender to lender. Certain lenders may charge these penalties at a flat rate or as an interest of a certain number of months.