Home Loan Foreclosure Calculator

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Home Loan Foreclosure Calculator

Loan amount

INR
Tenor (in months)Months
Rate of InterestPercent

EMI's paid

Months
Month of foreclosureMonths
Your EMI is

Rs. 20,251

Month
Your foreclosure amount is

Rs. 80,166

Month

Interest Saved

837

Interest Saved in Rs.

67

Interest Saved in percent

Penalty Charges

Foreclosure Charges

  • 0%
  • 1%
  • 2%
  • 3%
  • 4%

Foreclosure Penalty Charges

  • Rs.0
  • Rs.1699
  • Rs.3398
  • Rs.5097
  • Rs.6797

Net Outflow

(Foreclosure Amount + Penalty Charges)
  • Rs.1,69,892
  • Rs.1,71,591
  • Rs.1,73,290
  • Rs.1,74,989
  • Rs.1,76,688

What does Home Loan Repayment or foreclosure mean?

Housing Loan repayment is the full repayment of the remaining loan amount in one single payment instead of paying in EMIs. It is an existing part of your home loan process in which you can repay the loan before your scheduled EMI period. You can select the number of EMIs that you have already paid and the month on which you want to foreclose your loan. This will help you calculate the foreclosure amount.

How to use the Home Loan Repayment calculator?

Using this calculator is very easy. Just enter the following details:
1. Your loan amount (between Rs.1 lakh to Rs.50 lakh)
2. Tenor (between 1 to 20 years)
3. Rate of interest
4. The number of EMIs that you have already paid
5. The month on which you would like to foreclose your loan

What is foreclosure month?

It is the month in your loan tenor in which you repay the full loan amount in advance. For e.g. if your tenor of the loan is 5 years (60 months) and you plan to repay the total loan left after 3 years 4 months (40th month), then that month (the 40th) is your foreclosure month.

What is the interest amount saved on foreclosure?

Many banks and financial institutions charge between 1% to 4% of amount you are paying, as foreclosure charges. We, at Bajaj Finserv do not charge for foreclosure prepayment. Your entire loan amount is paid back as combination of principle and interest without any charges. Thus, the interest amount saved, tells you the amount you will save by availing our services.

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