Is there a penalty to paying my loan in full early?

 Windmill Microlending is committed to providing a borrower-friendly loan experience. Here’s a summary of the key benefits of our microloan products and how you can make additional payments:

Key Benefits of Windmill Loans

  • No Fees: Windmill does not charge any fees on its microloan products, ensuring that you receive full value from the loan amount without additional costs.
  • No Early Payment Penalties: You can pay off your microloan early without any penalties. This flexibility allows you to manage your finances without the worry of incurring extra costs.
  • No Penalties for Missed Payments: While consistent payment is encouraged for maintaining a healthy credit score, we understand that sometimes life gets in the way. Windmill does not penalize you for missing a payment.
  • Competitive Interest Rates: Our loans come with low and competitive interest rates, making them an affordable option compared to many other credit products.

Making Lump Sum Payments or Paying Off Your Loan

  • Flexibility: You are free to make lump sum deposits or pay off your loan in full at any time, allowing you greater control over your financial obligations.
  • How to Make a Deposit:
    • Online Payments: If Windmill offers an online payment portal, you can usually log in to your account and make payments directly.
    • Bank Transfer: You can also arrange to make payments via direct bank transfer. You might need to set up Windmill as a payee in your online banking platform.
    • By Check: If you prefer, you can mail a check to the designated Windmill address. 

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