Minimum salary should be above Rs.35,000
Loan foreclosure is the full repayment of the remaining loan amount in one single payment instead of paying it back in multiple EMIs.
It is an existing part of your personal 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 in which you want to foreclose your loan. This will help you calculate the foreclosure amount.
Enter the following details and calculate the foreclosure amount:
• Your loan amount (between Rs. 1 to 15 lakh)
• Tenor (between 1 to 5 years)
• Rate of interest
• The number of EMIs that you have already paid
• The month in which you would like to foreclose your loan
After you pay more than one EMI, 4% of your outstanding principal amount will be applicable as foreclosure charges.
Disclaimer :The EMI calculator is an indicative tool and the results may vary based on actual interest rates and the period between disbursal date and the first EMI date. Calculation results are approximate and for information purposes only.