Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 31 Personal Loan Preclosure Calculator

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.49% - 15.99% Fixed
    0.5%
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
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    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 14.49% Fixed
    0
    30L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 19.8% Fixed
    Up to 2% One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.49% - 21.00% Fixed
    0 One time fee
    20L Max
    1-6 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    13.99% - 16.99% Fixed
    0 One time fee
    20L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless Approval Option Available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    10.99% - 17.99% Fixed
    2.25% (min. ₹1499 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    12% - 18% Fixed
    Up to 1.5% One time fee
    15L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free INSTANT DECISION
    What you'll love
    Documents
    Perks
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    12% - 19% Fixed
    Up to ₹3000 One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.70% - 11.70% Floating
    0.5% One time fee
    50 K - 10 L
    1-5 Years
    Response Time Within 30 minutes
    Guarantor Required Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    14% - 33% Fixed
    1.5% to 6.0% One time fee
    15L Max
    1-4 Years
    Response Time Within 30 minutes
    Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    11% - 16.49% Fixed
    Up to 2.5%
    15L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.75% - 13.75% Fixed
    1% One time fee
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Personal Loan BYTES FROM OUR KITCHEN

    Preclosure Calculator for Personal Loans

    Many borrowers avail personal loans to get through a financial crisis. Personal loans come with a fixed payment plan. However, many borrowers do not wish to continue paying high interest rate for such long tenures. If a borrower wants to pay the loan in full after few months but before the end of the loan tenure, it is called loan preclosure. Prepaying your personal loan is very beneficial and economical. Listed below are few of the benefits of prepaying your personal loan.

    Benefits of paying off your loan in advance

    • It boosts your credit score.
    • It makes you eligible to avail other loans if needed.
    • It helps you save up a lot on the interest paid as you will be paying back the principal amount mostly and the interest rate you land up paying otherwise reduces.
    • It reduces your monthly financial obligation as it eliminates the burden of paying EMIs on a monthly basis.
    Personal Loan Offers

    How do you know the preclosure amount?

    Few decades ago customers used to walk into a bank to find out the preclosure amount that needs to be paid to close the personal loan account but these days one can calculate the preclosure amount online using the preclosure calculator.

    What is a preclosure calculator?

    A preclosure calculator is a tool helps you calculate the total sum amount that needs to be paid to close a personal loan account. This calculator is similar to the calculator used to calculate EMIs a borrower needs to pay.

    How to use the preclosure calculator?

    • Visit the bank’s website or use third-party websites that has a preclosure calculator.
    • Key in the details asked in the prepayment calculator. The calculator usually asks for few loan details like the tenure of the loan, interest rate, number of EMIs paid already, preclosure charges if any, total loan amount, foreclosure month, and if any part payment was made before.
    • Once you enter these details the calculator considers several factors and informs you the preclosure amount.

    Loan repayment calculator on BankBazaar Website

    You can also use the loan repayment calculator available on BankBazaar.com. BankBazaar is a neutral, third-party website that allows you to read about, compare and apply for various financial products available in the market. 

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