Minimum salary should be above Rs.35,000
Prepayment is early loan repayment. Simply put, it is an EMI installment payment before its due date and is usually a big amount. If you have a large sum of money, then you can give this amount to your lender, to repay part of your personal loan. This results in either a reduction in the EMI amount for the remaining tenor, or reduction in tenor with the same EMI amount. The prepayment amount must be at least three times your regular EMI emount.
You can use the Bajaj Finserv Part Pre-Payment Calculator to determine the impact of early repayment of your loan.
Move the sliders to enter the following details:
• Loan amount
• Tenor (in months)
• Rate of interest
• Part pre-payment amount that you wish to pay
On entering these details, you will see your revised EMI, your EMI savings, EMI saved in percent and the revised tenor.
A part pre-payment calculator works on the following factors:
• The loan amount
• Tenor in months
• Rate of interest
• Pre-payment amount
Once you enter these details, the calculator tells you how much money you will save on EMIs after the part-prepayment.
Disclaimer :Calculator is an indicative tool to check personal loan eligibility and assist the user to calculate the loan amount that the user will be eligible to borrow. Calculation results are approximations and for information purposes only and interest rates quoted are indicative. Actual interest rates and loan eligibility amount will vary. To check eligibility for Personal Loan and know the actual eligibility amount, the user should share his complete and accurate details by clicking on the ‘apply now’ tab and provide additional information/ documents required for assessment of user’s application. Calculation results are not intended to substitute professional advice which the user is advised to seek. Loan terms and conditions apply.