News From Press Should you prepay your personal loan early?

Should you prepay your personal loan early?

Source: Moneycontrol Dec 23, 2016

A personal loan is a valuable option when you are in urgent need of money for a relatively short term. While the interest rates might be relatively high (because the loan is not secured by any collateral), there are no restrictions on its end-use. Unlike a housing loan or auto loan which can be used only to buy property and a vehicle respectively, there is no constraint on how you can use the money in a personal loan. As a result, the documentation required is also simpler.

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