Pay Off Your Personal Loan Faster: Smart Strategies to Save Money

• Personal loans are versatile, used for education, weddings, business, or emergencies, and don't require asset collateral.
• Review your finances, account for all expenses, and determine how much extra you can comfortably pay towards your loan.
• Round off your EMI payments to a higher figure or use bonuses/additional income to accelerate loan repayment.
• Consider consolidating multiple loans into a single EMI or transferring high-interest loans to a lower-interest bank.
• Be aware of early payment penalties (typically 2-5% of loan amount) and choose banks that offer flexibility or no penalties.