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Loan Prepayment Kya Hai? — Matlab, Definition & Example
Definition
Prepayment matlab loan ka kuch ya poora amount scheduled tenure se pehle pay karna. Floating rate home loan pe zero prepayment penalty hai (RBI rule).
💡 Real Example
On a ₹50L home loan at 8.5%/20 years, prepaying ₹5 lakh in year 3 saves ₹12+ lakh in total interest and reduces tenure by 3+ years.
🇬🇧 English Mein (Loan Prepayment / Foreclosure)
Prepayment means paying off part or all of a loan before the scheduled tenure. RBI mandates zero prepayment penalty for floating-rate home loans. Prepaying in early years saves maximum interest since interest component is highest then. Part-prepayment can significantly reduce total interest and tenure.
❓ Common Questions
Loan Prepayment kya hai simple words mein?
Prepayment matlab loan ka kuch ya poora amount scheduled tenure se pehle pay karna. Floating rate home loan pe zero prepayment penalty hai (RBI rule).
Loan Prepayment ka ek example do?
On a ₹50L home loan at 8.5%/20 years, prepaying ₹5 lakh in year 3 saves ₹12+ lakh in total interest and reduces tenure by 3+ years.
Loan Prepayment / Foreclosure ko English mein kya kehte hain?
English mein ise Loan Prepayment / Foreclosure kehte hain. Prepayment means paying off part or all of a loan before the scheduled tenure. RBI mandates zero prepayment penalty for floating-rate home loans. Prepaying in early years saves maximum interest since