Which term refers closure of the loan account prior to the tenure fixed for the account? A. Pre Approved B. Pre Closure C. Personal Disposable D. None of the Above

Which term refers closure of the loan account prior to the tenure fixed for the account? A. Pre Approved B. Pre Closure  C. Personal Disposable D. None of the Above
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B. Pre Closure Explanation: Prepayment or pre-closure of a loan implies to the early repayment of a loan, in part or in full. Prepayment is done to reduce the tenure of the loan as well as the interest.
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