Can the borrower settle the loan early? Is there any early settlement charge?

During the first year, full or partial settlement is subject to a penalty of 3% of the settled amount, plus $10 or ៛40,000 administrative fee. After one year, the borrower may settle Auto Loan by giving notice to the bank one month in advance for partial settlement, and three months in advance for full settlement, subject to $10 or ៛40,000 administrative fee.

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