Loan repayment means paying back the money you borrowed, usually in monthly payments. This includes the original amount (principal) and the interest. You can also pay off your loan early as a lump sum, but check with your lender first, as there might be an early repayment fee.

Missing payments can hurt your credit score and financial standing. Your repayment history is visible to banks and lenders.

If you're struggling to make payments, talk to your lender or financial advisor to discuss your options.