^ This. Make sure when you do part-prepayments, the payments go towards principal and not towards interest. Although, I have dealt with a couple of banks who refused to do that. But, generally, bankers want to get paid. Also, remember that depending on where you live, prepayment may or may not cost you money. Finding out helps, but make sure that you don't consider it a barrier to financial freedom. These things can be negotiated. If not, even then, its better to pay the loan off. Because, as you will see, banks will play every trick in the book to keep you from prepaying loans.