Faqs - L&T Finance

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What is a Loan Against Property Foreclosure Calculator?

It is a digital tool designed to estimate the foreclosure charges and savings when you repay your Loan Against Property early.

How does a loan foreclosure calculator work?

It calculates charges and savings by using your loan details, outstanding balance and the foreclosure month you select.

What information do I need to use a Loan Against Property Foreclosure Calculator?

You’ll need details such as loan amount, tenure, interest rate, current balance and the number of EMIs paid.

How does one save on their interest outflow by foreclosing their loan?

Foreclosure reduces the remaining loan tenure, cutting down the total interest payable on the outstanding balance.

What is the foreclosure month?

It refers to the specific month in which you plan to repay the loan in full.

How is the foreclosure amount calculated?

The amount is calculated by adding the outstanding principal and applicable foreclosure charges.

Is it necessary to pay foreclosure charges?

Yes, it is necessary to pay foreclosure charges.

How to avoid personal loan foreclosure charges?

Check for lenders that offer loans without foreclosure penalties or negotiate with your lender.

Can I calculate my potential foreclosure costs using this calculator?

Yes, the calculator provides an accurate estimate of foreclosure costs.

What are the common fees associated with foreclosure on a Loan Against Property?

Fees may include foreclosure charges, administrative fees and applicable taxes.

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