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- Prepayment refers to paying off a debt before it is due, while repayment refers to the act of paying back money that has been borrowed1. Prepayment is used when a borrower prepays part of the loan before the end of the term, whereas foreclosure is used when a borrower repays the entire loan before the end of the tenure2. Prepayment means repaying a part or the full loan before the end of a loan tenure, while pre-closure means repaying the full loan amount in a single instalment before the end of the loan tenure3.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Prepayment refers to paying off a debt before it is due. This could be a loan, a mortgage, or any other type of debt. Repayment, on the other hand, refers to the act of paying back money that has been borrowed. This could be done in installments over time, or in a lump sum at the end of a loan term.thecontentauthority.com/blog/prepayment-vs-repay…The term prepayment is used when a borrower prepays part of the loan before the end of the term, whereas the term foreclosure is used when a borrower repays the entire loan before the end of the tenure.poonawallafincorp.com/blogs/difference-between-p…Prepayment means repaying a part or the full loan before the end of a loan tenure Pre-closure means repaying the full loan amount in a single instalment before the end of the loan tenurewww.fibe.in/blogs/what-is-prepayment-preclosure-a…
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Prepayment: Definition, How It Works, Types, and Penalties
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Prepayment vs Repayment: Meaning And Differences
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