Personal Loan

What is Part Prepayment of a Loan

What is Part Prepayment of a Loan?

If you have a large sum of money and you use it to repay your loan early, it would result in either a reduction of your EMI amount or reduction in tenure.

Repaying your loan early is termed as personal loan pre-payment or personal loan part pre-payment.
Usually, the pre-payment amount must be at least three times of your EMI amount.

There is no maximum limit for repayment amount, subject to you clearing of your first EMI.
Use the Bajaj Finserv Personal Loan Part Pre-payment Calculator to calculate the impact of your part pre-payment on your loan tenor or EMI.