Early Loan Repayment: Does it Hurt Your Credit Score? Know Before You Foreclose!

• Foreclosure means repaying a loan before its scheduled term, saving future interest.
• Banks provide a 'foreclosure statement'; personal loans may have fees, floating rate home loans usually don't.
• Early loan closure generally does not harm your credit score if EMIs were paid on time.
• Credit score primarily depends on timely payment behavior; past delays remain on record.
• Foreclosure is beneficial for high-interest loans or reducing EMI burden, but check fees vs. interest savings.