Loan Foreclosure Calculator
Should you close your loan early? Compare total cost of foreclosing now (with charges) vs continuing regular EMIs till the end.
📋 Loan Details
24 of 60 months paid (40% complete)
💰 Foreclosure Charges
Most banks charge 2-4% on outstanding principal. Floating rate home loans (post 2014) have 0% charges for individuals.
Processing fee, documentation charges, etc.
Current Loan Status
Monthly EMI
₹21,002
Outstanding Principal
₹6,55,633
Interest Paid So Far
₹1,59,678
Remaining EMIs
36
🔐 Foreclosure Now
Outstanding Principal₹6,55,633
Foreclosure Charge (2%)+₹13,113
Total to Close Now₹6,68,746
📅 Continue Normal EMIs
Remaining EMIs36 × ₹21,002
Total Remaining Payments₹7,56,067
Remaining Interest₹1,00,434
Total to Pay (Normal)₹7,56,067
📊 Cost Comparison
Foreclose
₹6,68,746
Normal EMI
₹7,56,067
You save by foreclosing
✓ ₹87,321
Closing now saves you ₹87,321 in interest even after paying 2% charges.
📋 Detailed Comparison
| Foreclose Now | Normal Flow | |
|---|---|---|
| Principal Payoff | ₹6,55,633 | ₹6,55,633 |
| Interest to Pay | ₹0 | ₹1,00,434 |
| Foreclosure Charges | ₹13,113 | ₹0 |
| Total Outflow | ₹6,68,746 | ₹7,56,067 |
| Savings | +₹87,321 | — |
Overall Loan Cost (if foreclosed now)
EMIs already paid₹5,04,045
Foreclosure payout₹6,68,746
Total cost of loan₹11,72,790
vs full tenure cost₹12,60,112