New Delhi, Sept. 2 -- Borrowers aspiring to seek a foreclosure on their personal loan offline can now benefit by following simple steps.

Foreclosure basically is the act of repaying the entire loan amount before the scheduled tenure ends. This helps borrowers reduce overall interest costs. While many lending institutions promote online closure due to the growth of digital technology, offline closure remains popular, especially for those who prefer face-to-face interactions and direct submission of required documents at the bank counter.

The most important step in offline foreclosure of personal loans is to visit the lending institution's nearest branch. You can locate the branch by searching on Google or through the lender's official we...