Calculator
Weigh the interest you'd save by foreclosing now against any foreclosure charge — and see the balance chart either way.
No foreclosure charge applies — RBI prohibits it on floating-rate loans to individual borrowers.
How do you know your remaining tenure?
Rate type
Foreclosure Charge
₹0
Interest If You Continue
₹3,68,252
Net Savings
₹3,68,252
Not on a floating-rate loan to an individual borrower — RBI has prohibited foreclosure and prepayment charges on these since 2014. Fixed-rate loans, and loans to non-individual borrowers (companies, firms), can still carry a charge — check your loan agreement.
Only if the interest you'd save exceeds any foreclosure charge and what you could otherwise earn investing that money. If your loan rate is lower than your expected investment return, keeping the loan running and investing the money instead can work out better — this is a personal finance trade-off, not just an arithmetic one.
No — closing a loan in good standing (whether on schedule or early) is reported as 'closed, no dues' and is generally neutral to positive for your credit history, unlike a default or settlement.
RBI prohibits banks and NBFCs from charging a foreclosure or prepayment fee on floating-rate loans to individual borrowers — so if your loan is floating, foreclosing costs you nothing extra beyond the outstanding principal. Fixed-rate loans are not covered by this rule, and lenders commonly charge 2-5% of the outstanding balance to foreclose one early.
Considering foreclosing to switch lenders instead? Compare current rates on our loans hub, or use our Home Loan Balance Transfer calculator for the full switching-cost picture.
Disclaimer:This is an illustrative calculation. Confirm your loan's exact foreclosure terms with your lender before acting.
Need more calculators? Browse all calculators →