5 Factors To Consider While Closing Your Loan Account: While closing your loan account, you must consider various factors carefully, like prepayment penalties, credit score, etc., to ensure that it goes without a hitch. Says Ashish Tiwari, chief marketing officer of Home Credit India, a Non-Banking Financial Company (NBFC) : “During a loan closure, customers tend to miss out on crucial details that may cause issues when trying to take another loan.”