Got a little extra cash and thinking of closing your loan early?
You’re not alone.
Many Vizzve users ask —
"Can I prepay my loan? Will I be charged for it? Or will it help me save interest?"
Let’s break it down.
What Is Loan Prepayment?
Loan prepayment means repaying your loan amount (partially or fully) before your loan tenure ends.
It comes in two forms:
Part-Prepayment – Paying a chunk to reduce your principal
Full Prepayment – Closing the loan completely before time
Does Vizzve Allow Loan Prepayment?
Yes.
Vizzve lets you prepay your loan early — and we encourage it when it fits your financial plan.
But let’s talk about charges and advantages.
Prepayment Charges: What to Expect
| Loan Type | Prepayment Charges |
|---|---|
| Personal Loan (Vizzve) | 0% to 3% (depends on loan plan) |
| Gold Loan | Often zero prepayment charge |
| Business Loan | Typically 2%–4% of outstanding principal |
| Education Loan | May be 0% if from NBFCs like Vizzve |
💡 Check your loan agreement — Vizzve offers flexible, low-prepayment terms for most products.
Benefits of Loan Prepayment
1️⃣ Save Interest
Paying early reduces the total interest outgo, especially if done in the early months.
2️⃣ Improve Credit Score
Finishing loans ahead of schedule boosts your repayment credibility.
3️⃣ Reduce Financial Burden
Fewer EMIs = More money in your monthly budget.
4️⃣ Mental Peace
No debt = No stress. You’re free to plan for new investments.
Things to Watch Out For
Charges: Some plans may have a nominal prepayment penalty
Lock-in Periods: Some loans restrict prepayment for the first 6–12 months
Opportunity Cost: Instead of prepaying, could the extra money be invested better?
Vizzve’s Smart Advice
If you’re in the first half of your loan tenure, prepaying can save you the most interest.
If you're near the end, focus on other financial goals unless there's no penalty.
How to Prepay Your Vizzve Loan
Login to your Vizzve dashboard
Choose “Prepay My Loan”
View outstanding balance and charges
Pay digitally via UPI, net banking, or wallet
Get confirmation and updated schedule instantly
❓FAQs
Q1: Is prepaying a loan always good?
Not always. It helps when interest outgo is still high or when you’re debt-focused.
Q2: Can I prepay anytime?
Yes, Vizzve offers flexible repayment, but some plans may have lock-in periods.
Q3: Will prepaying reduce my EMI?
Not automatically. It reduces the loan tenure, but you can also request to adjust the EMI.
Q4: Will there be charges?
It depends on the loan type — Vizzve keeps them minimal or 0% in many cases.
Final Word: Be Free, Be Smart
Prepaying a loan is like setting yourself free — faster.
Vizzve helps you do it with clarity and confidence.
💬 “You don’t have to wait 5 years to be debt-free. Prepay smart. Prepay with Vizzve.”
Published on : 28th July
Published by : SMITA
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RBI-Registered Loan Partner | 10 Lakh+ Customers | ₹600 Cr+ Disbursed