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Personal Loan Prepayment Calculator

Tools and Calculators

  • Pre-payment Calculator
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What is a Personal Loan Pre-Payment?

Pre-payment of personal loan is an option offered by Tata Capital wherein customers can repay their personal loans prior to completion of the loan’s tenure. We offer partial and total pre-payment of personal loans.

How to Use a Personal Loan Pre-Payment Calculator?

You can use the personal loan pre-payment calculator by following the steps mentioned below –

  • Step 1 – Use the ‘Loan Amount’ slider to set the principal loan amount.

  • Step 2 – Use the ‘Tenure’ slider to choose the loan tenure, either in months or ye

  • Step 3 – The next step is to use the ‘Rate of Interest’ slider to set the desired interest rate of your personal loan.

  • Step 4 – Using the next slider, choose the ‘Part Payment Amount.’

  • Step 5 – The next and final slider of the personal loan calculator will help you select the payment months, in months or years. The personal loan pre-closure calculator will automatically display the EMI and the Revised Tenure

Note - You can either use the ‘+’ or ‘-‘ symbols to increase or decrease the amount. Alternatively, you can even enter the amount manually in a box 

What are the Benefits of Pre-Paying Your Loan Amount?

Pre-payment of personal loan, both full and in part comes with several benefits, as mentioned below -

  • Become Debt-Free Faster – For a nominal pre-payment fee, repaying your personal loan before its due date whether in part or in full, allows you to become debt-free faster

  • Good Credit Score – Full Pre-payment of a personal loan will improve your credit rating in the long run. A part-prepayment will also boost your credit rating as the early repayment will allow you to pay off the outstanding principal amount in a timely manner, which will in turn show up on your credit history positively

  • Save on Interest Out-Go – Partial or full pre-payment of personal loan allows you to save on interest. 


What are the Pre-Payment Charges in a Personal Loan?

A part pre-payment amount of upto 25% of the principle outstanding is permitted. You will be levied part personal loan pre-payment charges as 2.5% + GST (on the amount over and above 25% of Principal outstanding).Note You can apply for part pre-payment of your personal loan only once a year. To know more about the pre-closure charges, visit our personal loan fees and charges page


By pre-payment of a personal loan, it is meant the partial or complete advance repayment of a personal loan due to availability of funds. It is either done for quicker repayment of personal loan as is the case with complete pre-payment or it is done to pay lower EMIs as is the case with partial pre-payment.

Yes, partial or complete personal loan pre-payment comes with pre-payment or foreclosure charges. Such charges are charged on both standard and flexible funding options (Cash Credit or Overdraft). Even pre-payment of top-ups involves foreclosure charges.

Tata Capital levies pre-payment charges on our personal loans as follows –

  • Standard Part Pre-Payment charges – 2.5% + GST (on amount over and above 25% of Principal outstanding)

  • Foreclosure Charges for Top-Up – 2.5% on the Future Principal outstanding on existing loan + GST (charged only if the new interest rate is lower than the old one)

  • Foreclosure Charges in CCOD Cases – 4.5% on the Dropped down limit amount + GST

To use a prepayment calculator, all you need to do is enter in the relevant details –

  • Loan Amount – This is the principal amount that you have borrowed as personal loan 

  • Loan Tenure – The fixed period for which the personal loan has been taken (in months or years)

  • Rate of Interest – The rate at which you need to pay your monthly EMIs over the loan tenure for repaying your personal loan 

  • Part Pre-Payment Amount – This is the amount that you wish to pre-pay or pay in advance 

  • Payment Months – This is the duration within which you wish to make your pre-payment 

Once entered, the calculator will automatically reveal to you the Revised EMI and the Revised Tenure.

Whether or not you should pre-pay your personal loan can be determined by considering the following factors –

  • Pre-Payment Charges – Before you decide on pre-paying your personal loan, it is important to compare the loan pre-payment charges with the amount you will be saving in terms of interest due to pre-payment. If the answer is not in your favour, it is better to opt out of pre-payment

  • Actual Savings – A lot of borrowers, especially those in later stages of their loan repayment feel that since they have paid a substantial number of EMIs, the interest component must be quite less and hence a loan pre-payment won’t be of much use. But, the truth is that since interest is calculated using the reducing balance method, it will remain the same for the unpaid principal amount. Hence, it is important to consider the personal loan interest rate and not the loan tenure while deciding about personal loan pre-payment 

To use Tata Capital’s personal loan pre-payment calculator, follow the following simple steps –

  • Step 1 – Using the first slider, set the Loan Amount. You can even use the ‘+’ and ‘-‘ symbols to increase or decrease the numbers or you can simply enter the amount in the box given 

  • Step 2 – Using the second slider, select the Loan Tenor in months or years. You can even use the ‘+’ and ‘-‘ symbols to increase or decrease the numbers or you can simply enter the amount in the box given 

  • Step 3 – Adjust the third slider to your personal loan Rate of Interest. You can even use the ‘+’ and ‘-‘ symbols to increase or decrease the numbers or you can simply enter the amount in the box given 

  • Step 4 – Now, use the fourth slider and choose the Part-Payment Amount. You can even use the ‘+’ and ‘-‘ symbols to increase or decrease the numbers or you can simply enter the amount in the box given 

  • Step 5 – Finally, using the fifth slider, select the Payment Months (in months or years) for your part-payment. You can even use the ‘+’ and ‘-‘ symbols to increase or decrease the numbers or you can simply enter the amount in the box given 

Once you have entered all the relevant details, the personal loan pre-payment calculator will automatically and almost instantaneously reveal to you the Revised EMI amount and the Revised Tenure of your personal loan.