Foreclosure Loans

Personal loan foreclosure is the process of full repayment of the balance loan amount in a single payment prior to the end of the loan tenure. The borrower can decide the number of equated monthly installment (EMIs) they wish to pay before foreclosing the loan. They can pre-plan loan foreclosures and decide the amount they want to pay at one go.

Among the most crucial aspects of personal loan foreclosures is a lock-in period on your loan account. Borrowers need to complete the lock-in period before they decide to settle their loan account and pay back the outstanding amount in full. Here are details you need to know before opting for a personal loan foreclosure.