Foreclosure of a personal loan means paying off the loan completely before the end of its tenure. Whereas, when you pay an amount in excess of the actual EMI amount it is known as partial prepayment. The following table gives the charges associated with Money View personal loan foreclosure and pre-payment:
| Particulars | Charges |
| Foreclosure charges | Nil* |
| Part Prepayment Charges | As per the prevailing policy of Money View** |
| Processing Fees | -Dynamically calculated according to Money View Algorithms.
-Does not have to be paid separately. It is deducted from your sanctioned loan amount before Money View transfers the funds to your bank account. |
*Foreclosure allowed only if your EMI repayment period is longer than 6 months and once you have made at least 3 EMI payments.
** Part payment of monthly EMIs is not allowed. As per the terms of the loan, you are required to pay the full EMI on the due date. However, in case you want to pre-pay a part of the entire loan amount, you can get in touch with the customer care to know applicable terms and conditions.
