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Personal Loan Part Payment Calculator

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Loan up to ₹5 Lakh
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Minimum Salary Required ₹15K
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Instant Approval
Calculate Personal Loan EMI

Monthly EMI

₹ 0

Interest Payable

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What is a Personal Loan Part Payment Calculator?

Personal Loans are the best funding options people commonly use to pay for their medical, education, wedding, home renovation, and travel bills. However, when they have extra funds to pay more than the EMI amount they chose earlier, they consider going for the option of part payment. 

A loan part payment calculator is an online tool that calculates the new EMIs and outstanding balances after making a part payment. Apart from that, an EMI part payment calculator also calculates vital aspects like savings made with the part payment and the revised tenure. Since doing these calculations manually is hectic and time-consuming, an online loan part prepayment calculator gives a head start in the right direction.
 

How Does Part Payment Calculator Work?

Part prepayment of a personal loan allows borrowers to pay off their loan sooner by making extra payments, reducing the outstanding balance and interest. A part payment calculator helps borrowers estimate the new EMI, outstanding balance, and repayment tenure after making a prepayment.
 

01

Choose a loan tenure based on income and financial obligations.
 

02

Salary increases or bonuses may lead to early repayment desires.
 

03

Part prepayment helps pay off the loan sooner.
 

04

A part payment calculator considers loan amount, interest rate, and repayment period.
 

05

Input details in the calculator for an updated EMI, balance, and tenure.
 

How to use a HerofinCorp Personal Loan Part Payment Calculator

The following steps will guide me to use the part payment calculator Personal Loan at Hero FinCorp. After entering all these variables, the EMI part payment calculator will display the accurate loan EMI amount on the screen, along with the revised EMI and tenure.

  • Entering the loan amount 
  • Filling in the loan tenure in years or months
  • Selecting the interest rate 
  • Entering the part payment amount
  • Filling in the payment months

Charges of Part Payment in Personal Loan

Many financial institutions charge part payment fees as a small percentage of the remaining loan balance. Borrowers must check these charges before prepaying a loan. Considering the part prepayment charges before prepaying is essential to ensure the savings are greater than the prepayment cost. At Hero FinCorp, there are no prepayment charges for loan amounts up to ₹ 20,000. However, they are 4% for loans above ₹ 20,000.
 

What Our Clients Say About Us

When my payment for my destination wedding was due, I turned to Hero FinCorp. Their instant personal loan process was unbelievably fast, with approval and disbursal! No long paperwork, no branch visits, just a few clicks on the app. I loved the flexible EMI option, which let me plan repayments comfortably. The entire journey felt professional and transparent. I got timely updates on every step through SMS and email. This kind of service is exactly what busy working professionals like me need. I’m a happy customer and will definitely use them again when needed.

Ankita Desai, Ahmedabad, Ahmedabad

I took a personal loan for my sister’s wedding, and the experience was excellent. The approval was instant, and everything was explained clearly, no hidden charges or last-minute surprises. The iOS app is smooth. I will confidently recommend them to anyone needing funds quickly without the stress of traditional bank loans.

Karan Mehta, Pune

When our car broke down unexpectedly, we needed funds quickly. Hero FinCorp’s instant personal loan was the perfect solution. The application process was 100% digital and very easy to follow. I chose a 24-month EMI plan that fits our household budget. The auto-debit feature works perfectly, so we never miss payments. It feels good to know there’s a reliable solution available when emergencies strike. It has made borrowing a completely stress-free experience for us.

Deepika Nair, Kochi

The app is very user-friendly and guides you through the process step by step. I borrowed Rs 3.5 lakh for a family trip, and everything, eligibility check, approval, disbursal, was completed digitally. When I had a question about EMI dates, customer support responded quickly. I now recommend the app to colleagues whenever they need quick, trustworthy financial assistance. It’s truly a modern, customer-first solution.

Nikhil Verma, Lucknow

This was the easiest loan process I’ve ever experienced. Hero FinCorp approved my Rs 5 lakh personal loan within minutes — no branch visits or paperwork required. I completed KYC digitally on the iOS app and got the funds the same day. The app also makes it easy to monitor my loan at any time. I’m very satisfied with the smooth and transparent experience.

Manisha Kulkarni, Nagpur

Frequently Asked Questions

Personal Loan prepayment helps save money by reducing the monthly EMIs and repayment tenure. Since a longer term means higher interest outgo, reducing the tenure with prepayment saves money on the interest cost.
A loan pre-closure works by paying more than the regular EMIs. As a result, the outstanding loan balance decreases, the interest outgo reduces, and the repayment tenure shortens to repay the debt sooner.
A Personal Loan part payment calculator helps calculate the potential savings by making multiple prepayments.
An EMI part payment calculator helps calculate prepayment amounts for fixed interest rate loans only. A floating interest rate loan keeps fluctuating, making it difficult to make the calculations.
Users can use a part payment calculator any number of times for free. So they can adjust the frequency of prepayments in the calculator online.