Personal Loan Foreclosure Calculator 2026

Loan amount

₹

₹10K ₹15L

Interest rate (p.a.)

p.a.

9% 36%

Tenure

Months

6 60

Months Already Paid (Till now)

Months

0 35

Close your loan for

Foreclosure fees Outstanding Principal

Other bank's
~(3.5%)

Check your Personal Loan Eligibility

Disclaimer: The information provided is not guaranteed to be accurate or complete and is indicative and tentative in nature.

Calculate Your Loan Foreclosure Savings

Planning to repay a personal loan before the end of its tenure? A foreclosure calculator can help you understand how much of your loan is still outstanding and estimate the foreclosure charges you may save.

With the IDFC FIRST Bank FIRSTmoney personal loan, zero foreclosure charges mean you can foreclose your eligible loan without a fee. The calculator below helps you compare the potential cost against a 3.5% foreclosure charge used as the industry-average comparison in this tool.

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What is loan foreclosure?

Loan foreclosure is the process of repaying the outstanding amount on a loan before the scheduled end of its tenure. When you foreclose a personal loan, you pay the remaining principal, along with any applicable interest or other charges, as per the lender's terms. Once the required amount is paid and the lender completes the foreclosure process, the loan account is closed.

If you have some extra funds available, you may consider foreclosing your loan to reduce your outstanding debt. Before doing so, learn how much you still need to repay and whether any foreclosure charges apply. A loan foreclosure calculator can give you a quick estimate of the outstanding amount and help you understand the possible savings from repaying the loan early.

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What is a foreclosure charge on a personal loan?

A foreclosure charge is a fee a lender may levy when a borrower chooses to close the loan before the scheduled tenure ends. It is usually worked out as a percentage of the outstanding principal, but the charges and conditions may vary depending on the lender and loan terms.

IDFC FIRST Bank FIRSTmoney has zero foreclosure charges, subject to the applicable product terms.

Check your foreclosure savings below

The EMI foreclosure calculator estimates your outstanding principal and helps you understand the potential financial impact of closing the loan early.

For example, consider a ₹5 lakh personal loan at 9.99% p.a. for 36 months, with 12 EMIs already paid:

Details	Example
Original loan amount	₹5,00,000
Rate of interest	9.99% p.a.
Original tenure	36 months
Monthly EMI	₹16,131
Months already paid	12
Estimated outstanding principal	₹3,49,613
Estimated remaining interest	₹37,537
FIRSTmoney foreclosure fee	₹0
Potential interest saving on foreclosure	₹37,537

These are illustrative figures only. Actual outstanding amounts depend on the loan amount, interest rate, tenure, repayment history and applicable terms. Use the calculator for an estimate, not as a final foreclosure statement.

With zero foreclosure charges on FIRSTmoney, closing the loan at this stage may also help avoid approximately ₹37,537 in future interest that would otherwise be payable over the remaining tenure.

The key number to look at is the outstanding principal. Once this amount is known, the calculator can show what a 3.5% foreclosure fee would mean in rupee terms. With zero foreclosure charges on FIRSTmoney, the corresponding fee is ₹0.

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How to use the foreclosure calculator?

A foreclosure calculator for a personal loan is useful when you want a quick estimate without working through the repayment formula yourself.

➤ The calculator shows the estimated outstanding balance and compares a 3.5% foreclosure charge with the zero-foreclosure charge applicable to FIRSTmoney, based on the tool's comparison.

➤ The result gives you a clearer view of the potential saving before you decide whether early repayment fits your financial plans.

Step 1:

Enter the loan amount

Step 2:

Enter the interest rate, tenure and months already paid.

Step 3:

Compare the foreclosure charges.

How is Personal Loan EMI Calculated?

The personal loan EMI calculator factors in the following three parameters to determine the monthly EMI.

P = Principal loan amount
R = Rate of interest
N = Loan tenure in months

Personal loan EMI calculator, based on these inputs, applies the following mathematical formula to compute the monthly instalment:

EMI = [P × R × (1+R)^N] / [(1+R)^N - 1]

For instance, if you avail a ₹5,00,000 personal loan at 9.99% p.a for 5 years, you will have an EMI of about ₹10,621.

After you enter your loan details: loan amount, rate of interest, and tenure of the loan, the personal loan calculator will provide you with the total repayment breakdown along with the interest portion, the outstanding amount, and payment so far in the amortisation schedule.

The IDFC FIRST Bank personal loan EMI calculator helps you get an tentative estimate of your EMI and avoid the hassle of manual calculations.

No penalty for prepaying

With zero foreclosure charges, there is no separate foreclosure fee to add to the outstanding principal when you choose to close the loan early, subject to applicable terms.

Repay anytime

If you have some additional funds available, you have the option to pay off your loan earlier without worrying about a foreclosure fee. This gives you the flexibility to review your outstanding balance and decide whether early repayment works for you.

Genuine savings versus the comparison rate

The saving becomes easier to see when expressed in rupees. For example, a 3.5% charge on an outstanding principal of ₹3 lakh would amount to ₹10,500. With a 0% foreclosure charge, that fee would be ₹0

When can zero foreclosure be useful?

It can be particularly helpful if you are:

• A salaried professional using a bonus or incentive to repay the loan.
• A small business owner with a temporary cash surplus.
• An employee relocating for a new job and looking to reduce existing liabilities.
• A borrower consolidating finances and closing an existing loan as part of a broader repayment plan.

Other Bank vs FIRSTmoney personal loans

If early repayment flexibility is important for your situation, it can help to compare foreclosure charges and other key loan terms before applying for a personal loan.

Feature	Other banks*	FIRSTmoney personal loans
Foreclosure charges	~3.5% of outstanding principal	Zero
Processing fee	Up to ~5% + applicable taxes	Starts at 0% for select loan amounts; up to 3.5% incl. GST
Interest rate	9.99%–24% p.a.	9.99% p.a.
Loan amount	Typically, ₹50,000–₹40 lakh+	Up to ₹15 lakh
Tenure	Typically, 12–84 months	Up to 60 months
Application	Digital or branch-based	100% digital

*Fees, charges, rates and terms vary by lender, product and customer profile. Check the latest applicable terms before making a financial decision.

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Should you foreclose your personal loan early?

Foreclosing a personal loan is recommended if the savings and added financial flexibility outweigh the benefits of keeping the loan. Before proceeding, consider the following:

Interest savings

Early closure can lower the total interest you pay.

Available funds

Ensure repayment does not significantly deplete your emergency savings or cash reserves.

Foreclosure charges

Confirm if your lender imposes a fee for early repayment.

Other financial priorities

Assess whether using the funds for foreclosure is preferable to paying off higher-interest debt or covering upcoming expenses.

Remaining tenure

Interest savings are greater if a substantial portion of the loan term remains.

Frequently asked questions

What is foreclosure in a personal loan?

Foreclosure refers to the early repayment and closure of a personal loan before the end of the scheduled tenure. The applicable outstanding amount as determined by the lender needs to be paid off.

Is there a penalty for foreclosing my personal loan?

Some lenders may charge a foreclosure fee when a personal loan is closed early. For FIRSTmoney personal loans, the foreclosure charge is zero, subject to applicable product terms.

Can I foreclose my FIRSTmoney personal loan anytime?

Yes, FIRSTmoney offers zero foreclosure charges with no lock-in period, giving you the flexibility to close your loan anytime.

What is the foreclosure charge on personal loans in India?

Foreclosure charges vary by lender and loan product, while FIRSTmoney personal loans by IDFC FIRST Bank offers zero foreclosure charges.

How is my outstanding foreclosure amount calculated?

The outstanding amount is based on factors, such as the original loan amount, interest rate, tenure and number of EMIs already paid. The calculator uses these details to estimate the remaining principal. The final foreclosure amount should be confirmed with the lender.

More FAQ

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Personal Loan Foreclosure Calculator 2026

Calculate Your Loan Foreclosure Savings

What is loan foreclosure?

What is a foreclosure charge on a personal loan?

How to use the foreclosure calculator?

Step 1:

Step 2:

Step 3:

How is Personal Loan EMI Calculated?

Benefits of zero foreclosure with FIRSTmoney

No penalty for prepaying

Repay anytime

Genuine savings versus the comparison rate

When can zero foreclosure be useful?

Other Bank vs FIRSTmoney personal loans

Should you foreclose your personal loan early?

Interest savings

Available funds

Foreclosure charges

Other financial priorities

Remaining tenure

Frequently asked questions

What is foreclosure in a personal loan?

Is there a penalty for foreclosing my personal loan?

Can I foreclose my FIRSTmoney personal loan anytime?

What is the foreclosure charge on personal loans in India?

How is my outstanding foreclosure amount calculated?

Explore More Personal Loan Calculators by FIRSTmoney

Personal Loan EMI Calculator

Personal Loan Eligibility Calculator

EMI Calculator

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Should You Choose Minimum or Maximum Tenure for Your Personal Loan?

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What are Personal Loan Prepayment Charges?

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