there is a penalty. Although the relevant laws stipulate that if the borrower repays the loan in advance, the interest shall be calculated according to the actual loan period, unless otherwise agreed by the parties, that is to say, if the loan contract signed by the borrower stipulates the rules for collecting the liquidated damages for prepayment, then the repayment of the loan in advance shall be in accordance with the contract, and both the actual loan interest and the liquidated damages for prepayment shall be paid.

there are two common calculation rules for the liquidated damages for prepayment of loans, namely, paying the normal loan interest for several months, generally not exceeding 6 months at the maximum, and charging it according to a certain proportion of the principal amount of prepayment, and the range of the proportion is generally 1% to 3%.