New Delhi, July 11 -- While paying debt off totally or in part often makes sense financially, would this affect your credit score? When making smart decisions, it is important to know in what way partial repayments will affect your credit health. This guide outlines what partial repayment means, the potential benefits, and how it may impact your credit score.

When you pay your EMI greater than your monthly EMI but less than the full amount you owe on a loan, this is called a partial-pay or partial prepayment.

"Part-payment of a loan, when done along with regular EMI payments, is a smart way to reduce your overall debt and ease your financial load. It can even give a boost to your credit score over time. But the part-payment must be plan...