Reduces Total Interest Outgo
Lowering the principal reduces the interest base for all future EMIs.
Personal Loan Part Payment Calculator
Use the Hero FinCorp Part Payment Calculator to check if part payment is a good option for you.
Approval in 10 Minutes
No Collateral Required
Paperless Documentation
Calculate Personal Loan EMI
What Is a Personal Loan Part Payment Calculator?
A personal loan part payment calculator is a free online tool that calculates the financial impact of making a lump-sum payment toward your outstanding personal loan beyond your regular monthly EMI. When you make a part payment, your outstanding principal reduces, which in turn reduces the interest charged on future EMIs.
The part payment calculator for a personal loan shows you: the revised outstanding loan balance after your part payment, the updated EMI or shortened tenure, and the total interest saved as a direct result of the prepayment.
How Does Part Prepayment Work?
When you make a part payment on your personal loan, the extra amount is applied directly to the outstanding principal not the interest. This reduces the base on which future interest is calculated. Depending on your lender's policy, this reduction either lowers your EMI amount (same tenure) or shortens your remaining repayment period (same EMI). Either way, you pay less interest overall.
How to Use the Hero FinCorp Part Payment Calculator
- Enter the Original Loan Amount: Input the principal amount you originally borrowed.
- Fill in the Loan Tenure: Enter the repayment period in months or years.
- Select the Interest Rate: Input 18% p.a. or the rate at which your loan was sanctioned.
- Enter the Part Payment Amount: Input the lump-sum amount you wish to prepay.
- Select the Payment Month: Indicate the EMI month in which you plan to make the part payment.
The calculator instantly displays your revised EMI, updated outstanding balance, revised remaining tenure, and total interest savings from the prepayment.
Charges for Part Payment on Hero FinCorp Personal Loans
| Outstanding Loan Amount | Part Payment / Foreclosure Charges |
| Up to Rs 20,000 | Nil |
| Above Rs 20,000 | 4% of the outstanding principal amount |
Important: Always compare your potential interest savings against the applicable part payment fee to confirm the prepayment is financially beneficial.
Benefits of Making a Part Payment on Your Personal Loan
Is Prepayment of Personal Loans Beneficial?
Yes, for most borrowers, prepayment makes strong financial sense. Since personal loans use reducing balance interest, the earlier you prepay, the more interest you save. Use the part payment calculator to model different prepayment scenarios and identify the optimal amount and timing for maximum savings.
What Our Customers Say About Us
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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
★★★★★
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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
★★★★★
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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
★★★★★
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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
★★★★★
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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
★★★★★
personal loan part payment calculator
Frequently Asked Questions
Part payment is a lump-sum payment made over and above your regular EMI, reducing the outstanding principal without closing the loan. Foreclosure means paying off the entire outstanding balance in one payment, closing the loan before the original tenure ends.
Pre-closure involves paying the full outstanding principal plus applicable foreclosure charges in a single payment. This eliminates all future EMIs, reduces your DTI ratio, and saves on remaining interest.
Yes. The Hero FinCorp Personal Loan Part Payment Calculator allows you to model multiple prepayment scenarios independently to estimate cumulative savings.
The calculator is designed for fixed interest rate loans, which apply to all Hero FinCorp personal loans. Floating-rate loans are subject to benchmark changes that make forward projections less precise.
Positively. Making timely part payments demonstrates responsible credit behaviour, which can improve your CIBIL score over time.