No, there are no fees or penalties for prepayment.
To make an early repayment, go to My Loans > Loan Details > Repayment Schedule, as on the screenshot below. Click on Repay Early if you want to make full repayment.
Whether you decide to repay the loan early or stick to the set loan schedule, the loan principal must always be repaid in full.
Here's how you repay interest:
- The interest of short-term loans (7 - 30 days) should be repaid in full if a borrower repays their loan early.
- If a long-term loan (2 - 36 months) is already repaid for 50% of the total interest amount or more, a borrower pays no extra interest in the case of early repayment.
- If a long-term loan is repaid for less than 50% of the interest amount, paying off early, a borrower covers 50% of the total interest amount.