Loan Prepayment Calculator
See how much interest you save by prepaying part of a home or other loan, and how much sooner it ends or how much lower the EMI falls.
How to use the Loan Prepayment Calculator
Enter the loan, its rate and tenure, then the prepayment and the month you make it. Add an amount if you also pay extra every month.
Choose whether the bank should cut your tenure (you keep paying the same EMI and finish early) or cut your EMI (you finish on the same date). Cutting the tenure saves more interest.
Frequently asked questions
Is there a penalty for prepaying a home loan?
Banks in India may not charge a prepayment penalty on floating-rate home loans taken by individuals. Fixed-rate loans can carry a charge; check your loan agreement.
When is the best time to prepay?
Early in the loan, when most of each EMI is interest. The same prepayment saves much more in year 2 than in year 15.
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