What is Home Loan pre-payment?

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Home Loan Prepayment Benefits
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What is Home Loan pre-payment?
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What is Home Loan pre-payment?
Pre-payment is early loan repayment. Pre-payment
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 pay this amount back
to repay part of your loan. This results in
either a reduction in the EMIs for the remaining
tenure or reduction in tenure with the same EMI.
The pre-payment amount must be at least three
times your EMI.
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What is Home Loan part pre-payment calculator?
Part pre-payment calculator is a calculator that
shows the positive impact of an early repayment
of your loan.
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How to use Home Loan part pre-payment calculator?
All you need to do is simply enter your loan
details and then enter the amount you wish to
pre-pay. Do keep in mind that this amount will
have to be minimum three times the calculated EMI.
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You can move the sliders to your left or right to
adjust the values or you can directly type the
values for the following
The Loan Amount Tenor (In Months) Rate of
Interest
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Home Loan Prepayment Benefits How a Home Loan
part pre-payment calculator works? The part
pre-payment calculator works on four main
variables The Loan amount Tenor in
months Rate of interest Pre-payment Amount
https//www.bajajfinserv.in/finance/home-loan/home
-loan-part-pre-payment-calculator.aspx
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For more details about Home Loan Prepayment
Benefits Visit below link
https//www.hdfc.com/blog/prepaying-home-loan-thin
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