Yes, you can pay off a personal loan after a year, depending on your lender. At Creditspring, our small personal loans are designed to be paid off in 12 monthly instalments. But it can vary with other lenders. Depending on how much you borrow and what the provider’s terms are, you may have options to pay back what you borrow over different lengths of time. Therefore, it’s crucial that you understand the lender’s repayment terms before you enter into any credit contract.