Is there a prepayment penalty? There is no prepayment penalty. You can pay the loan off at any point and only pay the interest that accrued until that point. 1 106 Related Knowledgebase How does Interest work on the personal loan? What is the difference between interest rate and annual percentage rate (APR)? What is the difference between a Secured and Unsecured Personal Loan? How is a Doc2Doc Personal Loan different than a credit card? What are the most common reasons to borrow from Doc2Doc?