It’s no secret that taking out a personal loan can be a great way to finance a large purchase or consolidate debt. But what’s the best way to pay off a personal loan? If you’re looking to pay off your loan as quickly as possible, there are a few things you can do to make that happen.
How to pay off your personal loan faster.
5 strategies for early loan repayment
- Pay every two weeks. Make half-payments toward your loan every two weeks rather than monthly payments.
- Your monthly payments should be rounded up.
- Make one more payment every year.
- Loan refinancing.
- Increase your salary and pay the loan off with all extra funds.