Loan Prepayment Calculator
Discover what an extra payment each month could save you. Enter your loan amount, rate, tenure and top-up amount to see the interest saved and how many months you cut off your loan.
How to use the Loan Prepayment Calculator
Enter your outstanding loan amount and the annual interest rate you pay.
Set the original tenure of the loan in years.
Type the extra amount you can pay each month on top of your regular EMI.
See how many months you save and how much interest the prepayment removes.
Frequently asked questions
How does prepayment reduce my loan?
Every extra rupee you pay goes straight towards the principal. A smaller principal means less interest accrues each month, so the loan closes sooner and you pay less interest overall.
Should I prepay my loan or invest the money?
Prepaying is effectively a risk-free return equal to your loan's interest rate. If you can earn a higher post-tax return elsewhere, investing may work out better; otherwise prepayment usually wins.
Are there charges for prepaying a loan?
Floating-rate home loans to individuals have no prepayment penalty in India. Some fixed-rate or personal loans may charge a fee, so check your loan agreement.