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What is prepayment of personal loan?

Tuesday, March 7, 2017, 10:30 AM

When you pay back your personal loan, entirely or in part before the due date, it is termed as prepayment of personal loan. After you avail a personal loan, you would be very anxious to repay it as soon as possible. Prepayment of loans will remove a heavy burden off your back. But before prepayment of personal loan you need to consider prepayment penalty.
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