Sat, March 22, 2025
[ Sat, Mar 22nd 2025 ]: YourStory
SheSparks 2025 brings together women at the forefront of innovation, leadership, advocacy
[ Sat, Mar 22nd 2025 ]: Fortune
Fired by Elon Musk's DOGE, then reinstated by a j .. thousands of federal workers are living in limbo
[ Sat, Mar 22nd 2025 ]: Kiplinger
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[ Sat, Mar 22nd 2025 ]: Metro
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[ Sat, Mar 22nd 2025 ]: Insider
Accenture CEO says DOGE's cost-cutting drive is hitting business, as worry spreads among staff
[ Sat, Mar 22nd 2025 ]: Kiplinger
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[ Sat, Mar 22nd 2025 ]: Metro
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[ Sat, Mar 22nd 2025 ]: Insider
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[ Sat, Mar 22nd 2025 ]: Moneycontrol
FOIR Calculation: Impact of FOIR on personal loan eligibility and tips to improve it
[ Sat, Mar 22nd 2025 ]: PCMag
1min.AI Is Your Creative Sidekick and It's On Sale Now
[ Sat, Mar 22nd 2025 ]: WZZM13
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Fri, March 21, 2025
[ Fri, Mar 21st 2025 ]: MarketWatch
Trump's plan to move student loans to the Small B .. ciation would be 'incredibly messy,' experts warn
[ Fri, Mar 21st 2025 ]: People
Margo Price and Husband Jeremy Ivey 'Have Somehow Beaten All the Odds': 'We Made It'
[ Fri, Mar 21st 2025 ]: CNBC
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[ Fri, Mar 21st 2025 ]: Yahoo
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[ Fri, Mar 21st 2025 ]: Newsweek
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[ Fri, Mar 21st 2025 ]: CCN
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[ Fri, Mar 21st 2025 ]: Variety
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[ Fri, Mar 21st 2025 ]: MARCA
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[ Fri, Mar 21st 2025 ]: MoneyWeek
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[ Fri, Mar 21st 2025 ]: WTOP
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[ Fri, Mar 21st 2025 ]: Cryptopolitan
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[ Fri, Mar 21st 2025 ]: AOL
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[ Fri, Mar 21st 2025 ]: Mint
Is pre-closing your personal loan a smart move? Pros and cons explained
[ Fri, Mar 21st 2025 ]: Kiplinger
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[ Fri, Mar 21st 2025 ]: Fortune
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[ Fri, Mar 21st 2025 ]: Forbes
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[ Fri, Mar 21st 2025 ]: Reuters
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[ Fri, Mar 21st 2025 ]: Insider
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[ Fri, Mar 21st 2025 ]: CoinTelegraph
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[ Fri, Mar 21st 2025 ]: Tuko
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[ Fri, Mar 21st 2025 ]: Moneycontrol
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[ Fri, Mar 21st 2025 ]: cnbctv18
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Thu, March 20, 2025
[ Thu, Mar 20th 2025 ]: TipRanks
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[ Thu, Mar 20th 2025 ]: WSAW
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[ Thu, Mar 20th 2025 ]: Insider
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[ Thu, Mar 20th 2025 ]: Reuters
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[ Thu, Mar 20th 2025 ]: Forbes
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[ Thu, Mar 20th 2025 ]: Fortune
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[ Thu, Mar 20th 2025 ]: MoneyWeek
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[ Thu, Mar 20th 2025 ]: MSNBC
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[ Thu, Mar 20th 2025 ]: Investopedia
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[ Thu, Mar 20th 2025 ]: jacobin
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[ Thu, Mar 20th 2025 ]: GlobalData
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[ Thu, Mar 20th 2025 ]: Week99er
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[ Thu, Mar 20th 2025 ]: Variety
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[ Thu, Mar 20th 2025 ]: CNBC
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[ Thu, Mar 20th 2025 ]: Moneycontrol
Bain Capital-Manappuram Finance deal likely to be announced soon

Is pre-closing your personal loan a smart move? Pros and cons explained

Pre-closing a personal loan can save interest and improve credit scores, but it may involve pre-closure charges, liquidity issues, and opportunity costs. New RBI guidelines on floating-rate loan prepayment charges may offer relief going ahead.
The article from MSN discusses the considerations of pre-closing a personal loan, detailing both the advantages and disadvantages. Pros include saving on interest payments since you stop the interest from accruing on the remaining loan amount, improving your credit score by reducing your debt-to-income ratio, and gaining financial freedom by eliminating monthly loan payments. However, cons involve potential prepayment penalties or fees which could offset some of the savings, the opportunity cost of using the money to pay off the loan instead of investing it elsewhere, and the loss of tax benefits if the loan was for a purpose that allowed for tax deductions. The article advises weighing these factors against one's financial situation, future income stability, and investment opportunities before deciding to pre-close a personal loan.

Read the Full Mint Article at:
[ https://www.msn.com/en-in/money/news/is-pre-closing-your-personal-loan-a-smart-move-pros-and-cons-explained/ar-AA1BnEiQ ]