Can I get a personal loan and pay it back right away?
That depends on the terms of the loan. It will differ from lender to lender, and it will depend on the type of loan. So when you take out the loan, if you’re intending to repay it early or you think that you may need to do that, check with the lender, and check on the early repayment terms.
Sometimes, there will be an early repayment penalty. But that’s not always the case. So check out with your lender and ask them what happens if I pay it back in two weeks, tomorrow or six months? Are there any penalties?
In a lot of cases, it won’t be an issue, but you have to check.