Lump sum is the single payment of money made over time. Making a big chunk of payment can save time on your repayments by months or years, since much large payment goes towards your home loan rather than interest.
When should you use Lump Sum Repayment Calculator?
Use this calculator to find out how much interest you need to save by making a lump sum repayment. It will also give you an insight on how much time you can save and how much it affect the overall loan duration.
TIP: Use this calculator to manage your current loan better, and figure out your repayment options when looking for a new loan.