Your EMI will be Rs. 1,00,083 per month
Savings in EMI
Prepayment refers to the early repayment of a loan. It is an installment payment before its due date and usually a lumpsum amount. The minimum sum required to initiate the prepayment of your home loan with Bajaj Finserv is the equivalent of three of your EMIs. Since you pay a part of your dues before times, a prepayment can result in a reduced tenor or a reduction in your EMI amount.
Part pre-payment calculator is a calculator that shows the positive impact of early repayment of your loan.
All you need to do is simply enter your loan details and then enter the amount you wish to pre-pay. Do keep in mind that this amount will have to be minimum three times the calculated EMI.
You can move the sliders to your left or right to adjust the values or you can directly type the values for the following:
1.The loan amount
2.Tenor (In months)
3.Rate Of interest
4.The part pre-payment amount that you wish to pay After you enter these details, click on “Done”. You will be able to see two options.
After you enter these details, click “Done”. You will be able to see two options:
1. EMI saved: This table shows the reduction in your EMI and monthly savings in EMI post part pre-payment
2. Tenor saved: This table shows the reduction in your tenor post part pre-payment.