Faqs - L&T Finance

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What is a Loan Against Property Prepayment Calculator?

It is an online tool designed to calculate the impact of prepaying your loan, showing potential savings and tenure reduction.

How does prepaying my loan reduce interest?

Prepayment reduces the principal amount, which lowers the interest calculated on the remaining balance.

Are there any prepayment charges on my loan?

Some lenders may charge prepayment fees based on their terms. It’s best to check your loan agreement.

Is it better to prepay a loan partially or fully?

Partial prepayment helps reduce the principal and interest, while full prepayment clears the loan entirely. Choose based on your financial capacity.

How often can I make prepayments?

The frequency depends on your lender’s policies. Many lenders allow annual or one-time prepayments.

How does prepaying my Loan Against Property affect my EMIs?

Depending on your preference, prepaying can reduce your EMIs or shorten the loan tenure.

Are there any prepayment charges for Loan Against Property?

Prepayment charges vary by lender and are often calculated as a percentage of the outstanding principal.

How frequently can I make prepayments for my Loan Against Property?

This depends on your lender's terms, but many allow multiple prepayments during the loan tenure.

How much should I prepay to see a noticeable impact on my loan?

Significant prepayment amounts (e.g., 10-20% of the outstanding principal) can result in noticeable savings.

Is it better to partially or fully prepay my Loan Against Property?

If your finances allow, full repayment eliminates debt. Otherwise, partial repayment helps reduce interest and tenure.

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