Home Loan Prepayment Calculator
Add a lump sum or a yearly extra payment and see the interest you save.
Your loan and prepayment
Interest you save
and you finish 3 years 4 months sooner
| Without | With prepayment | |
|---|---|---|
| Loan ends after | 20 years | 16 years 8 months |
| Monthly EMI | ₹39,066 | ₹39,066 |
| Total interest | ₹43,75,754 | ₹32,88,815 |
₹5 lakh prepaid in total on a ₹50 lakh loan at 7.1% p.a., with 18 years left today.
Paying a high rate? A lender may offer less.
Your balance, with and without
The gap between the lines is the interest you no longer pay.
- Without a prepayment
- With your prepayment
You save ₹10,86,939 in interest. and you finish 3 years 4 months sooner.
Two ways to use a prepayment
- Reduce the tenure. Keep paying the same EMI and finish sooner. This saves the most interest.
- Reduce the EMI. Keep the same end date and pay less each month. It eases your budget but saves less.
Charges to check first
Loans at a floating rate to individuals carry no prepayment charge. Fixed-rate loans can. Read your Key Fact Statement before you pay. This calculator ignores any fee, so subtract what you would pay from the interest saved.
When it saves the most
Early. Interest is charged on the outstanding balance, which is highest in the first years. A prepayment then removes a large balance that would have earned interest for a long time.
We are here to answer
all your questions
Reducing the tenure saves more interest, because you clear the balance sooner. Reducing the EMI eases your monthly budget but saves less. If you can carry the current EMI comfortably, reducing the tenure is usually the better use of the money.
Only what you can spare after keeping an emergency fund. If a loan costs more than your savings earn, prepaying wins, but not if it leaves you short and forces you to borrow again.
Most lenders keep the EMI and shorten the tenure by default. Some let you ask for a lower EMI instead. Ask your lender in writing how it treats a part-payment.
Yes. Use the yearly prepayment box to see what a regular top-up does. Small, regular prepayments often save more than people expect.
Many lenders set one, often a multiple of your EMI. Ask yours before you plan around a small amount.
Ready to see what you qualify for?
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