New Delhi, Feb. 4 -- It can be a smart financial decision to repay a personal loan early for saving interest costs and obtaining the independence of debt earlier. Here we will take you through the foreclosure procedure in case you have an Axis Bank personal loan and think about it. It will make this process simple to understand and follow.

A personal loan is considered one of the various types of unsecured loans offered for specific reasons, among them debt consolidation, home remodelling, traveling, schooling, or for medical expense purposes.

In this scenario, the premature pay-off of all your remaining loan amount dues prior to the end of the loan term is known as foreclosure. Lenders such as Axis Bank may levy a foreclosure charge al...