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How to use Loan Prepayment Calculator

Enter your loan balance, interest rate, current EMI and the extra monthly payment. The calculator shows the interest saved and months cut from your tenure.

Frequently asked questions

How does prepayment save interest?

Extra payments go straight to principal, so the outstanding balance falls faster. Since interest is charged on the balance, less principal means far less total interest.

Does prepayment reduce EMI or tenure?

This tool keeps the EMI the same and shortens the tenure, which usually saves the most interest. Some lenders instead lower the EMI while keeping the tenure.

Are there prepayment charges?

Floating-rate home loans in India generally have no prepayment penalty, but fixed-rate or other loans may. Check your loan terms before prepaying.

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