No, you will not be penalized for paying off a personal loan early. In fact, doing so may actually save you money in the long run. By paying off your loan early, you'll avoid accruing additional interest charges on your balance. This can help you save money and reduce your overall debt burden. If you're considering paying off a personal loan early, be sure to check with your lender first to see if there are any prepayment penalties or other fees that could apply. But in general, paying off a personal loan ahead of schedule is a smart financial move.