Does my future monthly installments change if I prepay?

If you make payments that are larger than your monthly installment, this will go towards your principal and will reduce your overall loan balance. 

When you make payments that are slightly higher than your monthly installment, these payments are applied toward your remaining principal. This will help you save money on future interest. 

For e.g., if you make a payment $10 higher than your monthly installment, this $10 will be applied to your outstanding principal and will reduce your loan balance and the amount of interest you will have to pay overall. 

*We don't charge any prepayment fee and make it fast and easy to pay off the loan with just 1 click.