You can easily apply for a personal loan using Buddy Loan. It is one of the largest loan aggregators that help you get loans from top lenders in India. And once you have met all your financial obligations, you might want to close your loan account to reduce the debt burden. You can your personal loan account in 3 ways: Prepayment of Loan, Part Prepayment of Loan and Repay your loan amount till the completion of your tenure. Therefore, you need to know the procedures and essential things like penalties before closing your account. It is also necessary to clear all your records and have them updated in your credit report to improve your credibility.