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Personal Loan Foreclosure Calculator

Loan amount

INR
Tenor (in months)Months
Rate of InterestPercent

EMI's paid

EMI's
Month of foreclosureMonths

Rs. 1,85,520

is your EMI

Rs. 1,85,520

foreclosure amount

Interest Saved

Rs. 1,85,520

Interest Saved in Rs.

Rs. 1,85,520

Interest Saved in percent

Penalty Charges

Foreclosure Charges

  • 4%

Foreclosure Penalty Charges

  • Rs.6797

Net Outflow

(Foreclosure Amount + Penalty Charges)
  • Rs.1,76,688

What is loan foreclosure?

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 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.

How to use the foreclosure calculator?

It is very easy and quick to use. Just enter the following details:
a. Your loan amount (between Rs. 1 to 15 lakh)
b. Tenor (between 1 to 5 years)
c. Rate of interest
d. The number of EMIs that you have already paid
e. The month in which you would like to foreclose your loan

What is foreclosure month?

It is the month in which you repay the full loan amount in advance. For e.g. if the tenor of your 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 aforementioned 40th month) is your foreclosure month.

Is there any penalty charge for foreclosing my loan?

After payment of more than 1 EMI, 4% of your outstanding principle amount will be applicable as foreclosure charge.

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