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A prepayment calculator is a financial tool (usually online, on a lender’s website or financial marketplace) that helps you estimate the savings and impact of repaying your loan early, either in part (partial prepayment) or in full (foreclosure).
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Voucher on disbursalCheck Personal Loan Offers Online
Customer Rating
2839 Reviews
Wide Choice
Curated offers from 30+ lenders
Quick Disbursal
Money in your account instantly
SmartMatch
Offers ranked according to eligibility
Digital Process
Hassle-free & paperless
Compare & Choose the Best Offer
Pre-approved Offers with Instant Disbursals
Know Your Chances of Approval
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Get up to ₹40 Lakh in 5 Simple Steps
Step 1: Enter your mobile number in the application form
Step 2: Provide your personal details
Step 3: Enter OTP to verify your mobile number
Step 4: Select the loan purpose and loan amount
Step 5: Compare offers and apply for the best-suited loan
Loan repayment refers to the act of paying back your loan, either in part or in full, before the conclusion of your loan tenure. By repaying in advance, you reduce your interest outgo on your personal loan and can be debt-free sooner.
A personal loan repayment calculator calculates:
Also Read: How to Ease Your Personal Loan Repayment
A loan prepayment charge refers to a fee that lenders impose if you pay off your loan before the agreed-upon tenure. When it comes to personal loans, the prepayment fees typically fall between 1% and 5% of the amount that is still owed.
However, there are lenders who waive prepayment charges after a specified number of EMIs.
To be aware of the charges that apply, make sure to read your loan agreement carefully.
| Bank / NBFC | Prepayment Charges |
|---|---|
| SBI | 3% on the prepaid amount. |
| Kotak Mahindra Bank | Up to 3 years - 4% + taxes on outstanding principal/part payment amount
After 3 years - 2% + taxes on outstanding principal/part payment amount |
| Yes Bank | 2–4% of principal due |
| HDFC Bank | 2–4% of outstanding principal |
| IndusInd Bank | 4% of principal due |
| ICICI Bank | 3–5% of principal |
| Axis Bank | 2–5% |
Partial Prepayment
Full Prepayment (Foreclosure)
Get up to ₹40 Lakh in 5 Simple Steps
Step 1: Enter your mobile number in the application form
Step 2: Provide your personal details
Step 3: Enter OTP to verify your mobile number
Step 4: Select the loan purpose and loan amount
Step 5: Compare offers and apply for the best-suited loan
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Last updated: 5 September, 2025
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