Reviewed by: David Chen, CFA
David Chen is a Certified Financial Analyst with expertise in finance.
David Chen is a Certified Financial Analyst with expertise in finance.
This tool calculates the LIC HFL part payment tenure based on user input. It allows you to input any three variables to calculate the fourth.
LIC HFL Part Payment Tenure Calculator 2020
Not calculated yet.
LIC HFL Part Payment Tenure 2020 Formula
Formula: Q = (F – P) / (V)
Formula Source: Investopedia
- F: Loan Amount
- P: Part Payment
- V: Interest Rate
- Q: Tenure
Related Calculators
What is LIC HFL Part Payment Tenure?
LIC HFL part payment tenure refers to the period over which the outstanding loan balance is repaid after making a part payment. This calculation helps in determining how part payments affect loan tenure.
How to Calculate LIC HFL Part Payment Tenure (Example)
- Step 1: Enter the loan amount, part payment, interest rate, and tenure.
- Step 2: Click “Calculate” to determine the new tenure based on part payment.
Frequently Asked Questions (FAQ)
What is part payment in a home loan? Part payment refers to an additional payment made towards your loan, reducing the outstanding principal.
Can part payment reduce loan tenure? Yes, part payments reduce the overall loan principal, thus reducing the tenure for repayment.