# Which bank offers zero foreclosure charges on personal loans: Quick comparison | Brand Stories (HT Tech) > Foreclosure charges impact early repayment of personal loans. Some banks impose fees after a set number of EMIs, while others may waive them. # Which bank offers zero foreclosure charges on personal loans: Quick comparison ## Foreclosure charges impact early repayment of personal loans. Some banks impose fees after a set number of EMIs, while others may waive them. Sept 07 2026, 12:13 IST ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook.png) ![Follow on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/follow-us-facebook-hover.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Share.png) ![Share](https://images.hindustantimes.com/tech/static/revamp/images/png/Shareclicked.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp.png) ![Share on WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/whatsapp-hover.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter.png) ![Share on Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/twitter-hover.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook.png) ![Share on Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/facebook-hover.png) ![Bookmark](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmark.png) ![Bookmarked](https://images.hindustantimes.com/tech/static/revamp/images/png/Bookmarked.png) ![IDFC FIRST Bank offers zero charges on its FIRSTmoney loan, making it a flexible option for borrowers planning early repayment.](https://images.hindustantimes.com/tech/img/2026/09/07/1600x900/zero_1788763406173_ee9a8718-b058-4334-8f1a-ac4f09c090bf_1788763406410_57446fcf-36e3-4840-8682-df9ef774e6f7_06f448f5-210f-4694-b553-584c0c3bbd7c_9e598cf9-95fe-4903-aea9-68f2bcb4c301.jpg) IDFC FIRST Bank offers zero charges on its FIRSTmoney loan, making it a flexible option for borrowers planning early repayment. ![Author Photo](https://images.hindustantimes.com/tech/static/revamp/images/png/HTTech-new-circle-logo.png) ### By HT TECH Foreclosure charges can make a meaningful difference if you plan to repay a personal loan before its scheduled tenure ends. Some banks waive these charges only after a specified number of EMIs, while others apply for a fee based on the outstanding principal and repayment period. If early repayment flexibility matters to you, comparing foreclosure terms alongside the personal loan interest rate, processing fees and tenure can help you identify the option that offers better overall value. ## What are foreclosure charges on a personal loan? Foreclosure charges are fees that may apply when you repay the outstanding balance of a personal loan in full before the scheduled tenure ends. The charge may be calculated as a percentage of the outstanding principal. Some banks may also specify a minimum number of EMIs that must be paid before foreclosure becomes charge-free. This means that "zero foreclosure charges" should always be understood in the context of the specific product and its applicable terms. A bank may offer zero charges after a particular repayment period rather than from the beginning of the loan. ## How do foreclosure charges compare across banks? Banks use different approaches to early repayment. For example, some banks state that its personal loan has no foreclosure charges after 12 EMI payments, while its published terms indicate that foreclosure before that point can attract applicable charges. Banks like IDFC FIRST Bank offers zero foreclosure charges on their digital personal loans like FIRSTmoney. Here is a table for quick comparison of foreclosure charges levied by the banks. | Bank | Foreclosure position | Key consideration | | --- | --- | --- | | IDFC FIRST Bank | Zero foreclosure charges | IDFC FIRST Bank's FIRSTmoney Personal Loan allows borrowers to close their loan with zero foreclosure charges and with no lock-in period. | | ICICI Bank | No foreclosure charges after 12 EMIs | Charges may apply before the specified period | | HDFC Bank | Charges based on repayment period | Percentage of principal outstanding plus applicable GST | The comparison shows why the phrase "zero foreclosure" needs context. A charge-free option from the beginning can provide more flexibility than one that becomes charge-free only after several months of repayment. ## Why does zero foreclosure on personal loan matter? A foreclosure charge can reduce the financial benefit of repaying a loan early. If a bank charges a percentage of the outstanding principal, the amount can become significant, particularly when the balance is still relatively high. Zero foreclosure charges can therefore provide greater flexibility when: - You expect your income to increase - You may receive a bonus or other lump sum - You plan to use future savings to clear the loan - You want the option to repay earlier without an additional foreclosure fee However, zero foreclosure charges do not automatically make a personal loan the cheapest option. The personal loan interest rate, processing fee and other charges still affect the overall borrowing cost. ## Does the personal loan interest rate still matter? A borrower may save on foreclosure charges but still pay more interest if the personal loan interest rate is higher or the loan remains outstanding for longer. When comparing offers, consider: - Personal loan interest rate - Processing fee - Repayment tenure - EMI amount - Foreclosure charges - Part-payment conditions - Late-payment charges - Total repayment amount IDFC FIRST Bank offers interest rates starting at 9.99% p.a., with its FIRSTmoney personal loan which is calculated on a reducing balance basis. This makes FIRSTmoney particularly relevant for borrowers who want to evaluate both the cost of borrowing and the flexibility to repay early. ## Conclusion Zero foreclosure charges can provide valuable flexibility, particularly if you expect to repay a personal loan before its scheduled tenure ends. While some banks remove foreclosure charges after a specified number of EMIs, IDFC FIRST Bank's FIRSTmoney personal loan currently offers zero foreclosure charges, alongside interest rates starting at 9.99% p.a., and flexible loan amounts up ₹15 lakh for eligible borrowers. When comparing options, however, zero foreclosure should not be viewed in isolation. Consider the personal loan interest rate, processing fee, EMI, tenure and total repayment to determine the overall cost. On the specific question of early repayment flexibility, FIRSTmoney comes out particularly strongly because borrowers do not have to wait for a specified number of EMIs to access a zero-foreclosure benefit, subject to the applicable terms. ### FAQs Which bank offers zero foreclosure charges on a personal loan? IDFC FIRST Bank currently lists NIL foreclosure charges for its FIRSTmoney personal loan and states that borrowers can easily foreclose their loan via Bank app or website. Is zero foreclosure more important than the personal loan interest rate? Not necessarily. Zero foreclosure charges provide flexibility, but the personal loan interest rate, processing fee, tenure and total repayment also determine the overall cost. Why might FIRSTmoney personal loan be a good option for early repayment? FIRSTmoney currently offers zero foreclosure charges, allowing eligible borrowers to close the loan early without an additional foreclosure fee. It also lists interest rates starting at 9.99% p.a. or 0.83% p.m. and tenures from 9 to 60 months. ## Note to the Reader: This article is part of HT Tech's promotional consumer connect initiative and is independently created by the brand. HT Tech assumes no editorial responsibility for the content. ## The content may be for information and awareness purposes and does not constitute any financial advice. Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel. 07 Sept, 12:13 IST ### Related Stories 29 Sept 2026 71,788,763,192,955 NEXT ARTICLE BEGINS ![View all](https://images.hindustantimes.com/tech/static/revamp/images/png/view-all-icon.png) ## Tips & Tricks ![Ghibli-style art](https://images.hindustantimes.com/tech/img/2025/03/28/414x233/ChatGPT_Ghibli_style_images_1743161814450_1743161814596.jpg) ### How to turn your photos into Ghibli-style art with ChatGPT for free: Step-by-step guide ![How to create an invitation using iPhone’s new Apple Invites app- Step-by-step guide](https://images.hindustantimes.com/tech/img/2025/02/14/414x233/invites_1738728829564_1739543695649.png) ### How to create an invitation using iPhone’s new Apple Invites app- Step-by-step guide ![Apple TV app arrives on Android phones and tablets: What you get and how to install it](https://images.hindustantimes.com/tech/img/2025/02/13/414x233/unnamed_1739426557335_1739426567634.jpg) ### Apple TV app arrives on Android phones and tablets: What you get and how to install it ![Vodafone Idea OTT plans](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Vodafone Idea users can now stream 17 OTT apps with one subscription: Here's how ![Android data transfer methods](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### How to transfer data from one Android to another using Google backup, USB-C cable, and more ## Editor’s Pick ![iPhone 16e launched with A18 chip, Apple AI—bringing flagship power on a budget: Check specs, price](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### iPhone 16e launched in India: All details about the new budget mobile from Apple ![DeepSeek was founded in China with only a fraction of the budget of the top AI companies in the US.](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### DeepSeek AI: How it works, who’s behind it, how it’s different from ChatGPT, and its big US market impact explained ![iPhone 17 Air likely to get this feature that iPhone 17 Pro models may miss out on](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### iPhone 17 Air likely to get this feature that iPhone 17 Pro models may miss out on ![Google Whisk AI explained: How remixing works, availability, and how it differs from Gemini](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Google Whisk AI explained: How remixing works, availability, and how it differs from Gemini ![iOS 18.4 beta arriving soon: Know why it is the biggest iPhone update](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### iOS 18.4 beta arriving soon: Know why it is the biggest iPhone update ## Trending Stories ![Airtel 5G SIM card will now be delivered in 10 minutes with Blinkit- How to order](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Airtel 5G SIM card will now be delivered in 10 minutes with Blinkit- How to order ![Infinix Note 50s 5G+](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Infinix Note 50s 5G+ set to launch in India with 64MP camera and MediaTek Dimensity 7300 SoC ![Xiaomi X Pro QLED Series sale starts in India: Check price, availability, and more](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Xiaomi X Pro QLED Series sale starts in India: Check price, availability, and more ![Apple Intelligence AI training](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Apple plans to train AI using your on-device data without accessing personal content or emails: Report ![CMF Buds 2](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### CMF Buds 2 key features and price revealed ahead of April 28 launch: Details inside keep up with tech ![Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/tech-facebook.png) ![Twitter](https://images.hindustantimes.com/tech/static/revamp/images/png/tech-twitter.png) ![WhatsApp](https://images.hindustantimes.com/tech/static/revamp/images/png/tech-whatsApp.png) ![Facebook](https://images.hindustantimes.com/tech/static/revamp/images/png/tech-facebook.png) ## Gaming ![Check out these five gaming monitors under ₹20,000,](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Top 5 gaming monitors under ₹20000 you should consider ![gaming consoles](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Grab gaming consoles at discounted rates during Amazon Great Indian Festival: Up to 72% off ![Pokémon GO Wild Area 2025](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Pokémon GO Wild Area 2025 to bring Grimmsnarl family, Shiny Hatenna, and global challenges ![Shade Silver](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Shade Silver free on Steam for a limited time: Here’s how to get it ![Call of duty](https://images.hindustantimes.com/tech/static/revamp/images/png/ht-tech-bg-img-90-66.png) ### Call of Duty: Black Ops 7 skips Switch 2 at launch, release date and price leak ![View all](https://images.hindustantimes.com/tech/static/revamp/images/png/view-all-icon.png) ## Trending News ### Airtel 5G SIM card will now be delivered in 10 minutes with Blinkit- How to order ![Airtel 5G SIM card will now be delivered in 10 minutes with Blinkit- How to order](https://images.livemint.com/static/static/1x1_img.gif) ### Infinix Note 50s 5G+ set to launch in India with 64MP camera and MediaTek Dimensity 7300 SoC ![Infinix Note 50s 5G+](https://images.livemint.com/static/static/1x1_img.gif) ### Xiaomi X Pro QLED Series sale starts in India: Check price, availability, and more ![Xiaomi X Pro QLED Series sale starts in India: Check price, availability, and more](https://images.livemint.com/static/static/1x1_img.gif) ### Apple plans to train AI using your on-device data without accessing personal content or emails: Report ![Apple Intelligence AI training](https://images.livemint.com/static/static/1x1_img.gif) ### CMF Buds 2 key features and price revealed ahead of April 28 launch: Details inside ![CMF Buds 2](https://images.livemint.com/static/static/1x1_img.gif) ## Trending Gadgets Mobiles Laptops Tablets ![HT Tech](https://images.hindustantimes.com/tech/static/revamp/images/png/HT_tech-new.gif) - https://tech.hindustantimes.com/brand-stories/which-bank-offers-zero-foreclosure-charges-on-personal-loans-quick-comparison-71788763192955.html