Borrowers may spread their repayments over one month up to 60 months by making equal monthly payments. Consider the repercussions of not repaying your loans. Extra interest may accumulate if you cannot repay your loan on time. Furthermore, your credit rating would be lowered, impairing your ability to get a loan in the future. If you like, you may always pay off your loan early. If you do, you’ll be able to save money in the long run.