But, at the same time, it also takes all your savings away which could be a problem during any financial emergency. Making prepayment surely reduces your interest burden. If allowed, you should also check if your bank is imposing any penalty for loan prepayment. That’s why it’s important to check the prepayment clause before you sign your home loan agreement. There are some lenders that do not allow prepayment as it may cause losses to them. Eligiblilty for Home Loan PrepaymentĪny individual can make full or partial prepayment against their outstanding loan, as long as the lender allows it. Once you enter these details, just click “Calculate” to view your interest savings from loan prepayment. All you need to do is enter a few details of the loan, including: The home loan prepayment calculator helps you determine how much you can save from prepayment. How does Home Loan Prepayment Calculator work?
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