Home Loan Part Pre Payment Calculator

Home Loan Part Payment Calculator



Minimum salary should be above Rs.35,000





Pre-payment Amount


EMI will be per month

Rs. 3,68,134

  • Revised EMI :


  • Savings in EMI :


  • EMI Saved :


  • OR

  • Revised Tenor:

    15 Months

What is Part Payment of Home Loan

Home loan prepayment is a repayment option that allows borrowers to make a lump sum payment towards the housing loan liability at any time before the tenure’s end. It is payable over and above the EMIs paid. Borrowers can either pay a substantial portion of the principal liability, as part payment of home loan or foreclose the loan account with a repayment of the total loan liability prior to the end of the tenure.

Since longer repayment tenures result in increased interest liabilities, part payment of home loan is a simple way to reduce interest outgo.

Borrowers must also know about prepayment charges before going for the repayment option. If the part payment of a home loan exceeds a certain limit, some lenders levy additional charges as prepayment penalties. Bajaj Housing Finance Limited ensures borrower affordability and convenience by eliminating any additional fee during part payment transactions.

What is a Housing Loan Part Payment Calculator?

A home loan part payment calculator is a dedicated online tool provided by Bajaj Housing Finance Limited to help borrowers determine the suitability of the prepayment option. Enter only a few essential details, i.e. the loan amount, interest rate, tenure, and the part payment amount, to calculate your savings with the part payment option.

This home loan advance payment calculator allows borrowers to determine four crucial aspects of housing credit after prepayment completion, i.e., the revised instalment amount, the percentage of EMI saved, tenure reduction, due and the savings with each EMI payment. Utilise the calculator to determine whether prepayment is particularly beneficial or not before opting for the repayment type.

Manual calculation of these changes in home loan EMI amount can be complex, while also being time-consuming. The Bajaj Housing Finance Limited home loan part payment calculator simplifies these computations.

Thus, opt to part pay towards your home loan outstanding with due consideration of the savings made.

Benefits of Home Loan Part Payment Calculator

Part payment of home loan lowers the principal outstanding amount significantly. The reduced principal amount also results in lower interest liabilities and EMI reduction subsequently. A part payment limits liabilities when opted for at just the right time. The home loan part payment calculator from Bajaj Housing Finance Limited enables borrowers to decide the profitability of this advance payment made against your housing loan liability.

Part payment of home loan also helps in improving the borrowers’ credit score after closure of the total due amount. Selecting the prepayment option ensures easier repayment of the principal and keeps interest accrual in check. Borrowers can also determine the total savings made with the help of a home loan part payment calculator.

A borrower must access funds in a lump-sum amount to initiate a part payment of the home loan. Bajaj Housing Finance Limited allows such part payment equal to at least three EMIs. Thus, if a borrower’s EMIs are Rs.20,000, the part payment amount has to be at least Rs.60,000.

How to Use the Home Loan Part Prepayment Calculator?

The home loan part payment calculator is a free online tool, which helps individuals assess profitability from such advance payment. Enter only a few required values to ascertain whether such a transaction helps in saving a considerable amount on the total interest outgo. To use the home loan advance payment calculator, principal outstanding, loan tenure remaining, interest rate and the prepayment amount are essential.

Principal outstanding is not the total home loan principal, but only the amount, which is remaining to be serviced. Thus, after repaying the principal amount of Rs.2 lakh out of the total principal of Rs.10 lakh, the outstanding would be equal to Rs.8 lakh. Remaining loan tenure is the period available until the closure of the housing loan as sanctioned initially. It is another essential input required to assess prepayment affordability when using a home loan part payment calculator.

The interest rate is the applicable lending rate at which a lender extends a housing loan to a borrower. The prepayment amount is the lump-sum payment to be made advance. The steps to use a home loan advance payment calculator are as follows –

  • Step 1: Under the ‘Home Loan’ section, click on ‘Part Prepayment Calculator’.
  • Step 2: Enter the outstanding home loan principal.
  • Step 3: Next, provide the interest rate applicable.
  • Step 4: Enter the remaining repayment tenure.
  • Step 5: Select the part payment amount.

What are the Home Loan Part Payment Rules?

Borrowers must know about the home loan part payment rules before prepaying a home loan. These rules help understand the instances when the prepayment penalties are applicable and help borrowers time their repayment decisions. Individuals need to pay such charges in the following cases –

  • If borrowers avail housing credit under a Dual Rate Home Loan scheme, part payment may incur a penalty. In such a scheme, the interest rate on home loan , remains fixed in the initial years of repayment but changes to a floating system in the later years.
  • When opting for a home loan balance transfer facility with a new lender, individuals need to bear the prepayment charges.
  • As per home loan part payment rules, HFCs are free to levy these penalties to non-individual entities.

Lenders cannot charge a fee against the part payment of home loans under the following condition –

  • If the Dual Rate Home Loan credit is shifted to floating interest rate during prepayment, no penalty is applicable.
  • Individuals do not need to bear such charges when servicing floating interest rate housing loans.
  • If borrowers use their own money to finance a part payment, no charges are levied on such transactions. 

The part payment amount also needs to be equal to at least three EMIs to qualify as prepayment. Time your part payment of home loan as per the rules mentioned to make the most of this repayment facility.