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Prepayment Penalty

by | Oct 20, 2025 | Uncategorized

A prepayment penalty is a fee that a borrower must pay if they pay off their loan before the scheduled term. This penalty is meant to compensate the lender for lost interest income. It is important for borrowers to check for such clauses before taking a loan.

Repayment Schedule

by | Oct 17, 2025 | Uncategorized

A repayment schedule is a structured plan that details when and how the borrower will repay the loan. Loan apps typically offer flexible schedules based on the loan term and borrower’s preferences.