5 Ways to Pay Off Personal Loans Faster

If you have a personal loan, here's how to pay it off faster.

Firstly, use any extra money, like a bonus, to make a big payment.

Secondly, pay a little extra each month.

Thirdly, combine your debts into one loan with a lower interest rate.

Fourthly, see if you can transfer your loan to get a better rate.

Lastly, talk to your bank, they may help.

Doing this can save you money on interest and help you get out of debt sooner.

The RBI has advised banks not to charge extra fees if you pay off a floating-rate loan early.